The Challenge
At the time of engagement, the economy was struggling, and yacht sales and services were on a decline forcing many global brands to reduce mass production or even stop it in some cases. TGYG Senior management understood these challenges, coupled with an outdated brand and position, little to no proactive public relations or social media presence, and sales and marketing plans that did not integrate or connect appropriately. Multiple boat shows and limited team members added additional stress to the execution of organized marketing tactics and essentially hurting sales and even retention.
The Solution
HCP Associates was engaged to offer initial market research studies and a complete revamp of the brand, position, and A to Z marketing strategies, both traditional and digital. HCP analyzed the high–end luxury yacht industry to compare and contrast where the industry was headed and how best to achieve growth and exposure for the brand. After a deep dive into global competitors and numerous niche vertical markets, HCP provided senior leadership with a gap analysis and strategic marketing plan to aggressively increase sales revenue, simultaneously engaging existing clientele with a more robust retention strategy to increase customer loyalty in their future buying decisions.
Tom George Yacht Group (TGYG) is a prestigious full-service yacht brokerage firm headquartered in Dunedin, Florida, with showrooms in Fort Lauderdale and Miami. TGYG provides new construction from 20’ up to 200’, charter and construction yacht management. TGYG is an authorized dealer for Marquis Yachts, Carver Yachts, EdgeWater Boats, Everglades Boats, Cobalt Boats, and Invincible Boats, as well as being an authorized service dealer for Yamaha, Volvo, Mercury, and MerCruiser boat motors.
After research and planning were completed, implementing a refreshed brand and positioning platform took this Florida-based competitor and positioned them as a global force of excellence and service. HCP launched a new website, digital media kit, corporate identity package, sales collateral, print/digital advertisements, branded social media channels, enhanced industry-based content, proactive public relations, social media tactics, planned media buys, additional boat shows, and various other grassroots marketing tactics.
TGYG launched its new brand, position, and new yacht manufacturers’ lines during Tampa’s largest international boat show. HCP continued to evaluate multiple lines of tactics to expand the proactive public relations and social media campaigns. The revenue growth, global brand equity, expansion of new brands/manufacturers, and successful customer loyalty programs are all testament to a senior leadership team working closely with HCP to take TGYG to another level of global dominance.
TGYG eventually hired a professional in-house marketing team, and HCP continues to support the group on an as–needed basis. This in-house team was the end goal of senior leadership: to enhance the brand, position, equity, and customer loyalty, with minor support from an outside consulting firm. Mission accomplished!