Selling superyachts: the latest technological trends in superyacht marketing
The superyacht market is becoming increasingly competitive, with the new build and charter sectors continuing to boom. So, how are industry players supposed to stay ahead of the curve?
Yachting is slowly becoming a breeding ground for innovative ideas, emerging technology, and fresh perspectives, but things tend to lag in comparison with other industries. It’s ironic: the wealth and power of the UHNWIs suggest they would be at the forefront of the latest tech, yet, the industry is still antiquated, especially when it comes to how it’s marketed.
The hush-hush nature of the superyacht world is becoming less too. People are intrigued and they want to know more about the experience… and how to get on board, pun intended. In such a technology-driven world, players need more effective marketing strategies to replace traditional marketing techniques with technologically superior ones.
So, what are these trends?
Virtually, anything goes.
The virtual world is no longer associated with science fiction and futuristic concepts; it is very much present today and is a powerful tool for marketing campaigns. The blend of Virtual Reality (VR), Augmented Reality (AR), and 360/3D virtual tours are now essential to use in superyacht marketing. The 'try before you buy' concept has caught on massively since we were all under global lockdowns and couldn't 'try' in person. Post-pandemic, this increasingly immersive and engaging way of presenting products and services is an effective way to reach prospective clients, especially if said clients are based in halfway across the world from the yacht they want to view.
While nothing can take away from reality or a client physically walking around a yacht for a viewing, these virtual tools are powerful in marketing and are becoming more popular, especially for younger generations who will soon be driving the industry forward.
Be Social
Social platforms aren't new, but the way they are being used is. They are in a constant state of flux, from the way the industry is using the platforms to how clients are responding to them. Social media provides the perfect methods to showcase the industry's unique lifestyle, for brands to tell their stories, and to inspire followers with alluring superyacht content.
In recent years there has been a significant shift in influencer marketing. The latter part of this year has seen a rise in genuinfluencers, as the traditional influencer model becomes tiresome - particularly for luxury brands and industries. Traditional influencers lack the guarantee that the target audience will be their followers. In contrast, genuinfluencers are on the rise - those interested in sharing truthful information and advice on the brands they promote, sharing their knowledge and opinion. This model is effective for luxury brands, as it increases authenticity, a key value, specifically for the yachting industry, that relies on reputation. Not only do customers want genuine advertising, i.e. the genuinfluencers, but they also want authentic communication using their existing methods. Builders and marine brands should be prepared to engage and answer via social media, or even SMS. Lastly, when it comes to content types, video is leading the charge. TikTok and Instagram Reels should be incorporated into a marketing strategy to keep up with the latest trends in content consumption.
Summary of sales tactics via social media:
User-generated content; people want to see real people on yachts.
Be authentic; use genuninfluencers in marketing
Allow for communication; inbound leads now come in through social media or SMS
Utilize the new; TikTok & Instagram reels
Targeting you, only
The power of personalization is huge. Brands like Netflix and Amazon have focused on this concept for a while. Those brands and companies not focusing on improving personalization and prioritizing tailored experiences risk falling behind. In a content-saturated world, brands must personalize the client journey from start to end.
In such a niche industry as yachting, this personalization should be done in a way that the company is able to explain to a potential client, “why pick us,” based on the client's unique digital persona. For example, if they know a client owns a dog, companies should focus on targeting them with relevant content. Think of messaging that reads, “puppy-proof your power yacht.” Creepy? Yes. Effective? Definitely. The data is out there and as companies, you can create automated segmentation. If your business isn’t doing this, it should start in order to gain an emotional connection with prospective clients.
When it comes to increasingly sophisticated Artificial Intelligence (AI), using data in real time can also help companies understand the client’s intentions. AI-driven tools such as recommendation engines and chatbots can enable companies to tailor conversations to clients’ needs and deliver personalized services. Note: for yachting, these technologies must be adopted subtly to preserve the service quality that UHNWIs are accustomed to.
New ways to pay
When it comes to competitive advantages and adding value to potential clients, technological developments such as the harnessing of blockchain technology and cryptocurrencies are vital in a company's marketing efforts. Cryptocurrencies are a form of blockchain technology. There are several out there already, some more popular than others. Enter: Bitcoin and Ethereum. This technology is already impacting how the yachting industry is making purchases. Companies such as Denison Yachting, Camper & Nicolson, TJB superyachts, and Ocean Independence have jumped onto this crypto bandwagon already.A visual asset revival
A glossy brochure is no longer enough for superyacht marketing. You need more — more engaging, high-quality visuals. Static images are a thing of the past. Today, creating enticing videography content is increasingly desired. Video marketing has become more relevant with the popularity of the social platforms, cough cough, Instagram Reels and TikTok, with the opportunity for content to go viral. As mentioned above, UHNWIs are engaging more with social media platforms… especially the younger generation. Drone footage also takes up a vast proportion of video content, especially in yachting.
As a company, being able to offer high-quality content creation is not only key for marketing, but can also be beneficial in the later stages of client journeys. For example, if you’re a charter broker, being able to offer charter guests an option to document their vacation could set you apart from the masses.
