The value of building brand awareness

by Richard Broughton – 26th May 2010

The 2009 Monaco Yacht Show, the 19th in its history, always promised to be a slightly different affair to those which had gone before it. Standing at the show almost two years ago, just as news of Lehman Brothers’ collapse was sinking in and the world’s financial markets were starting to slow, I pondered if things were going to change over the then coming 12 months.  The answer was yes.

But onto today… the marine market is a different place to 2009 and I think everyone is expecting a far more upbeat show in a few months. Buoyed by emerging markets and long lead times, several yards I have spoken to recently are already starting to see some genuine green shoots of recovery and hold little concern over future orders. Vitters, for example, has four on the go at the moment and Pendennis is looking to increase its workforce by up to 20% this year. However, that is not to say everyone is fairing so well. So how is the market responding and what is 2011 going to bring?

Monitoring the markets and our other clients in the marine arena, there are still people with the ability to order a superyacht,  a few 60 metre plus orders I heard about are clear signs of that but many are looking much harder for a great deal. One magazine editor spoke of new technology coming to market quicker and a general raising of the game from many companies; as they realise the value in how their brand is positioned within their potential markets. A message I agreed with wholeheartedly!

So how visible are you?

When a market slows, many businesses cut budgets but others see harder times as an opportunity to gain market share, it is these who often fare better in the long run. As the industry looks harder at its suppliers, and potential owners take a more calculated approach to their purchase, it is those who are more visible and stand out from the crowd who benefit. Marketing certainly plays a large part and can make a real difference to a company’s fortunes in more challenging times. Improved presence at events, regular public relations and good communications may seem like simple ideas but they do make all the difference.

Our agency Merchant Technology Marketing Ltd offers best-in-class marketing, public relations, digital and production support. With many years experience in the marine sector, we have a clear understanding of your global market, have strong contacts with the relevant media and our publicity solutions help clients achieve a leading global presence.

If you would like to get the most out of your events and improve the way you are perceived, give us a call and find out what we can do for you.