Denison Makes Sales Through Social Media [In The News]

Superyacht group Denison Yachting has revealed at least nine of its transactions have been made after engaging buyers on social media.

This article was featured on BoatInternational.com in September 2021 and was written by Nic Robinson.

Superyacht group Denison Yachting has revealed at least nine of its transactions have been made after engaging buyers on social media.
Speaking at last week’s Monaco Yacht Show, president Bob Denison said the business had focused on a new generation of buyers through social media, and also by carrying out transactions using cryptocurrency.

“Social media gives us the opportunity to meet and engage with new people and lets our owners know we’re introducing a new audience,” said Denison.

The business was able to track its customer journeys more easily through social and could utilise this information alongside more traditional selling techniques such as boat shows, he explained.

“Social media also relates to a younger audience and this year we did a study and we’re up to nine transactions from people we met or engaged with on social,” Denison continued.

“Sometimes people think it’s [social] is not important, but when you engage [with new customers] it’s important to be active.”

As well as focusing more on social media, the business had completed 18 transactions using cryptocurrency, including a handful of charters.

Several of those sales had values of more than $10M, with all transactions completed using Bitcoin, “but we accept most cryptocurrencies”.

Although the number of sales using cryptocurrency were rising, Denison acknowledged that not all owners wanted to use the format and said, in such cases, the business converted these finances into preferred currencies.

The revelation followed Denison’s plans to expand into Europe earlier this month, which wiould be a big focus for the group over the coming years.

“Our Europe goals are to take better care of clients who will have better appreciation to do business with us this way,” said Denison.

“Part of that process is attracting new business, and I don’t think you can be a credible broker without a foothold in Europe.”

Last year the business increased sales by 35% on the previous year and so far this year it had completed 75 superyacht transactions, an increase if 15% on 2020 and up 56% on 2019.

For charter, the business had seen the total number of weeks booked rise by 65% this year compared with the same period in 2020, with a 75% rise in total charter fees.

“All of this underpins reasoning and strategy for Denison’s move into Europe – Denison Yachting’s success and sales activity highlighted is predominantly US based,” a statement read.

“As we track the trends in the marketplace and over the period of the pandemic, we have seen a sharp uptick in US buyers, particularly in the large yacht sector.

“With that comes an increase in clients looking to enter yachts into the charter program, crew placement increases and Denison’s operation yacht management services expand.”