Monaco opt-outs spotlight quest for ‘client centricity’
Heesen and Feadship's decision to opt out of the Monaco Yacht Show suggests growing trend for 'client centricity'.
If you’re short of a buzzword, try chucking “client-centric” into a few conversations.
It’s certainly à la mode in marketing and was cited as the reason for Heesen opting to go without a stand at the Monaco Yacht Show and Fort Lauderdale International Boat Show this year.
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The Dutch shipyard is not the prime disruptor in this regard – Feadship declined to take a stand at Monaco last year – but it said this “pivotal move” is a chance “to better serve its global client base”.
“This bold decision underscores a commitment to a more client-centric presence, placing the spotlight firmly on its magnificent yachts and the delivery of an unparalleled ‘Heesen experience’,” said the company in a statement.
Rational decision
Fellow Dutch yacht builder Feadship’s decision to pass on a stand at Monaco in its 75th anniversary year caused ripples across the industry. It will do the same this year.
“For us, that was a moment based on a very rational decision,” said Feadship’s chief marketing officer Farouk Nefzi, speaking at our Superyacht investor London conference in March.
“It is simply the point when you look at your ROI [return on investment] … because we are there to sell, not to buy and we’re spending.”
Instead, Feadship laid on exclusive hospitality at the Wine Palace in Monaco, and on the eve of the show hosted a “fairy tale” client event at La Colle Noire, the villa of fashion icon Christian Dior north west of Cannes. Nefzi described it as a “totally immersive experience”. Guests went home clutching Dior goody bags, which became the talk of the show, he said.
“It’s not about being different, it’s about how do we resonate and become closely connected to the target audiences that we are reaching out for?” Nefzi added.
READ: ‘Turn right when others turn left’ – disrupting yachting
Dan Mundy, head of global operations, Ocean Alexander told Superyacht Investor the decision to exhibit is “very personal” to shipyards.
“When you build product for availability, you certainly must participate or that is simply lost opportunities,” he said. “The parallel view is for branding for those that only build upon a contract needing to continually keep their brand in sight.
“It is a high cost to participate, and I can see how it may be hard to find quantitative results to justify. Ultimately, it comes back to where they choose to invest marketing dollars.”
‘Chest beating’
According to Tim Davis, chief marketing officer, Burgess, the industry has to work harder to become “client-centric”.
“We’re very good at customer service, but I’m not sure that as an industry we’re client-centric,” he said, speaking on the same panel as Nefzi in London. “I’m not sure we build our experiences or our brands around our clients.”
Using Burgess as an example, Davis suggested exhibitor stands at boat shows often see more business-to-business (B2B) meetings than client meetings.
“There is a bit of chest-beating at the end of the dock,” he said. “I think we have to continue to look at it. I would argue that cramming 10,000 people onto a dock and asking them to buy a superyacht is probably not the right way to be doing it.”
READ: Kicking fenders amid Monaco madness
Gaëlle Tallarida, MD, Monaco Yacht Show explained that the event welcomes about 550 exhibitors every year, including 54 shipyards this year. Any ripples from Feadship and now Heesen will remain small, she said.
“Not all shipyards have a stand at the show, and some have chosen to give priority to exhibiting their new yachts, but don’t issue a press release to justify it,” she told us.
“This has been the daily business of MYS since its inception and is by no means a growing trend.”
Powerful marketing
Heesen maintains the shows are “unparalleled platforms” which it “deeply respects”, adding it will continue to show yachts and designs at the show. But it insists its more “refined approach” will lean towards client and partner “experiences” on yachts it has on display, such as the recently delivered 55m Solemates which is set to be at the 2025 MYS.
“The shipyard will proudly have its yachts on display, in the best possible positions, ensuring they are the centre of attention,” it added.
For Davis, the key to client centricity is by engaging a new generation.
“Let’s understand what they want and let’s give it to them because word of mouth is the most powerful form of marketing,” he said. “It doesn’t matter how much I spend on the Monaco Yacht Show or on advertising in and around Monaco.
“If our owner, our charterer is recommending us or recommending the experience, then everybody wins.”
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