The Importance of Boat Shows Explained, From Malta to London

Boat shows are the prime marketing platform for the yachting industry, where the display of the latest superyachts along the megayacht marinas and carpeted quaysides gives the manifestation a taste of luxury and prestige.

Yacht equipment manufacturers, shipyards, service providers, naval architects, brokers, luxury brands, and refit and repair entities make the main line of businesses represented at such shows which also attract marine publications and various nautical interrelated marine organizations.

Malta’s yachting industry knows its origin way back in the 1960s which brought in its wake the setting up of a number of companies offering various services to this “new” style of pleasure boating. The island was well geared in handling naval vessels and commercial ships, from repair yards to electronic navigational aids, electrical engineers, and chandlery, but yachting definitely required a more tasteful approach, which became more demanding and refined as years went by.

Being an ex-British colony the first foreign yachtsmen making Malta their regular port of call or winter base were British, possibly many of whom were ex-navy officers who must have served on the island at one time or other during their service years. Thus, it was very natural that when the yachting business community started to experience the need to “go abroad” and promote their services and facilities the London Boat Show, possibly the best such show in Europe at the time, was looked upon as the best promotion opportunity to reach their customers.

And indeed the sound working relationship between the local yachting business community and the organizers of the London Boat Show was so superb that in 1989, Malta was the main feature of the show then held at the Earls Court Exhibition Center. In fact that year’s edition was officially inaugurated by Dr Eddie Fenech Adami, Prime Minister of Malta. A special edition of Yachting in Malta was published for the occasion – a much younger “yours truly” is seen here presenting a copy to the Prime Minister.

As the yachting industry evolved and visiting yachtsmen to Malta became cosmopolitan the trade expanded its promotion horizons and further to London the Genoa International Boat Show was included in their marketing strategy.

The yachting industry, well, like everything else in life, has experienced impressive changes and new opportunities came about where in the case of boat shows fresh destinations excelled and established exceptional standards and achievements.

In a study commissioned by the National Marine Manufacturers Association (NMMA) in 2010 three of the conclusions reached recognized the fact that for consumers who attended a boat show, the boat show had the most influence on their decision to buy a boat (57%) – ranking above experience at a dealership (54%) and the Internet (47%); secondly buyers ranked boat shows as the marketing channel with the most influence during the interest/consideration phase of the purchase process; and thirdly 70% of buyers who had attended a boat show purchased a new boat within three months of attending the show.

But with the local scenario in mind, are boat shows influential marketing channels when customers are to decide upon (i) the flag registration, (ii) their permanent marina, and (iii) the repair and refit yard?

Re the flag registration, Dr Stanley Portelli LL.D, CEO, Transport Malta observes that, “A consistent presence in the main international boat shows during the last few years was essential for Transport Malta to become more visible to the yacht and superyacht industry. Our participation has yielded very encouraging results in registration but more importantly it has given us the opportunity to promote the whole package offered by Maritime Malta by providing a platform for the local service providers to promote their respective services. It also allows our officers to meet existing and potential clients and network with influential decision makers and industry leaders”.

Re their permanent marina, Ben Stuart, general manager, Grand Harbour Marina remarks that, “Grand Harbour Marina and Camper & Nicholsons Marinas have a stand at three main boat dhows; Monaco, Fort Lauderdale and Dusseldorf. We also attend the charter shows of Genoa, Antibes and London. We consider attendance at all of the above to be an important part of our marketing and serves to reinforce the Camper & Nicholsons’ image and brand. This has the effect of establishing and reinforcing our presence within the international yachting world. Grand Harbour Marina is part of the larger Camper & Nicholsons Marinas with marinas in America, Europe the Middle East and the Far East. In that sense yes, boat shows are influential marketing channels and are indeed productive”.

Re the repair and refit yard, David Mifsud, general manager, Manoel Island Yacht Yard explains that, “Part of our development strategy is directly linked to government’s strategy to develop Malta into a hub for maritime activity in the Mediterranean and a maritime centre of excellence. Manoel Island Yacht Yard is being developed into a leading Mediterranean yacht yard and the participation and attendance at prestigious shows such as Monaco are important marketing opportunities that cannot be overlooked as we target superyacht business for further growth”.

The London Boat Show and the Genoa International Boat Show, now in their 54th and 51st editions, respectively, are possibly the most familiar marketing vehicles to the local yachting commercial community. However, in the past two decades other marine expositions have emerged and established their exclusive trademark, such as; the Dubai International Boat Show (19 editions) – the focus of the Middle East’s marine business and now one of the five largest international boat shows in the world – and the Monaco Yacht Show (20 editions), where qualified buyers and sellers of superyachts walk the docks to discover 100 exclusive superyachts. Do service providers still give priority to this type of marketing exercise and how difficulty is it to decide on “the” shows to join?

Pierre Balzan, director, Melita Marine Group points out that “certainly our presence in selected international boat shows ranks top on our marketing agenda and with a variety of shows on offer one has to be discerning. For the past 20 years we have always been exhibiting in the Monaco Yacht Show, definitely a key showcase of the industry. Our participation and attendance at such exciting gatherings is not only meant to uphold our range of services and facilities, meeting major trade icons and potential clientele as well as strengthen our international representation, but we take pride in projecting Malta as ‘the’ destination for the yachting industry particularly the superyacht sector”.

Gino Cutajar, managing director, Cutrico Marine, and president, Super Yacht Industry Network – Malta recounts that, “Super Yacht Industry Network Malta was set up in 2007 and the importance of participating in boat shows was immediately recognized. The Monaco Yacht Show was clearly identified as the show to patronize; definitely an exclusive platform to introduce and promote our products to the optimum clientele of the super yachts industry. We have been regularly exhibiting at the MYS since 2008 and likewise this year our name features again in the show’s 21st edition. I feel boat shows are crucial to the industry, the most effective marketing medium, definitely an elite niche where to do business with a clientele that matters”.

Roland Darmanin Kissaun, CEO, S&D Yachts believes that, “International boat shows are certainly important promotional events which form part of our marketing strategy. S&D Yachts offer an array of services to the international yachting industry and the shows that we attend will need to be effective media to reach our target customers for the services that we offer. The Malta package features prominently at the shows that we participate in especially the Genova charter show and Monaco yacht show”.

An iconic personality in the superyacht industry is Peter Lürssen of Lürssen Yachts who during this year’s Dubai International Boat Show was a visitor to the Maritime Malta (Transport Malta) pavilion. On the occasion a copy of the current edition of Yachting in Malta was presented to Mr Lürssen by Dr Ann Fenech, the consultant to the directory’s maritime law given information. Present on the occasion was also Charles Axisa, Marketing manager Transport Malta.

In 1964 the International Federation of Boat Show Organisers (IFBSO) was set up by a group of leading European boat shows. One of its main undertakings was “to help the development of boat shows and marine trade exhibitions worldwide”. Today the organization hosts some 38 quality shows and exhibitions across the globe with two new boat shows – the Korea International Boat Show and the Eurasia Boat Show in Turkey – just admitted to the “club” at the last IFBSO Congress in June.

But today, 47 years after its foundation, is IFBSO attaining its objectives, and is this result contributing to the yachting industry’s success?

Tom Willis, secretary general of the Federation, comments that throughout the world, the wider recreational boating industry has been through decidedly rough waters since the credit crunch, and most of the developed boating markets are only now beginning to emerge from recession. Boat shows remain the most popular and successful method of marketing not just boats, but boating itself – selling dreams that continue to attract people in their millions to this great pastime.

The coming months will see the boat shows programme going into full swing where it is hoped that the global economic crisis will not cause any too severe tremors to give all on board the exciting world of yachting a pleasant journey.

Source: The Malta Business Weekly