To meet the growing need for marketing solutions targeting wealthy buyers, Excel Performance Media, among other providers, are exploring new visibility solutions powered by next-gen marketing strategies.
-- Despite the turmoil in the global economy, the luxury yacht market is still projected to nearly double in size in the next 5 years, according to Global Market Insights. A 2024 report by Yacht Style goes even further, valuing the current super yacht market at over $33 billion USD. However, this growth obfuscates a shortcoming, one which Excel Performance Media suggests could stymie the market: a complete lack of marketing infrastructure for many companies now driving that growth.
Indeed, one broker, TBJ Super Yachts, reported that it takes, on average, 6 months to a year to secure a buyer for most new stock, due in large part to deficiencies in the marketing ecosystem.
Forbes explains this problem in greater detail, highlighting the unique challenges that arise when marketing to highly wealthy individuals. Not only, they claim, is it difficult to reach these individuals in the first place given their often-busy schedules and penchant for avoiding traditional social media channels, but the rise of the so-called “new billionaire”, individuals who built their fortunes from scratch, requires an entirely different type of outreach and framing for marketers looking to sell luxury goods.
Excel Performance Media details their own strategy for targeting wealthy customers, which relies primarily on specificity and visibility. Ultra-luxury markets like super yacht sales are often narrow, with a limited amount of stock available at any given time, with most buyers entering the market already interested in a specific niche. With that in mind, marketers are developing new ways to ensure that yacht dealers can maintain an expansive digital presence, all in the interest of increasing organic traffic.
That same Forbes report also highlights the fact that digital marketing is only half the battle when marketing to the ultra-wealthy. It is contingent on businesses to establish a professional physical presence as well; the author shares an anecdote about a sales process that took over 14 months of near-daily interaction, which further corroborates the 12-month estimate shared by TBJ Super Yachts.
By combining organic digital marketing efforts, patience, and professionalism, Excel Performance Media and others like them hope to be able to support the luxury yacht market as it continues to grow and evolve in the years to come.
Contact Info:
Name: Alexander Muller-Kurzwelly
Email: Send Email
Organization: Excel Performance Media
Address: Edificio D2C Apto 221, Sotogrande, Andalusia 11310, Spain
Website: https://excelperformancemedia.com
Source: NewsNetwork
Release ID: 89168553
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