The money that is spent on the Discover Boating advertising part of the Grow Boating campaign is primarily derived from a set percentage of new boat and engine sales. It will come as no surprise therefore that the planned media spend for 2008 has been reduced by 20%. Nevertheless, the results of this year’s campaign are surprisingly good and there is still a month to go.
The NMMA states that as of September 16 Discover Boating has generated more than 15,000 hot prospects (prospects that give permission to pass their names on to manufacturers and dealers) and that more than 75,000 ‘Get Started in Boating’ DVDs have been sent to consumers this year. This surpasses their goal of 65,000 and is approximately 18,000 more than last year’s total. These numbers are interesting because NMMA research shows that just over 5,000 people who received the same DVD in the period March ’06 to January “08 bought a boat after receiving the DVD. (It should be noted that there were other people who got into boating for the first time who did not get the DVD)
In April 2008, Michigan State University, at the request of Grow Boating Inc., was asked to determine the lifetime value of a single new boater to the industry. Their preliminary findings were that: The average boater has purchased 4.1 boats (new and used) and that the average value of each boat/engine was U$32,084 excluding finance & insurance. This does not seem like a lot of money until you do the math. Each new boater will spend a minimum of U$131,544 over their boating lifetime. 5,000 new people getting into boating a year will spend U$657 million. 5,000 people a year for 10 years will generate some U$6.57 billion. That seems like real money!
Posted by: James
Categories:
Marine Industry