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Bruce Van Wagoner

TM. Bruce Van Wagoner. GE Commercial Distribution Finance Marine Group – President. Why GE?. GE Legacy – 50 Years. Manufacturer / Dealer Relationships. Long Term / Leading Market Position. Expanding Commitment (Retail, Real Estate, Leasing). Six Sigma / ACFC. Dealer Council.

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Bruce Van Wagoner

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  1. TM

  2. Bruce Van Wagoner GE Commercial Distribution Finance Marine Group – President

  3. Why GE? • GE Legacy – 50 Years • Manufacturer / Dealer Relationships • Long Term / Leading Market Position • Expanding Commitment (Retail, Real Estate, Leasing) • Six Sigma / ACFC • Dealer Council • GE – Growth • Grow Boating Initiative • Leadership Challenged to Attend

  4. Registered Boats 1990 – 2003 Millionsof Boats 14 12.9 12.9 12.8 12.8 12.7 13 12.6 12.3 12.1 11.7 12 11.4 11.3 11.1 11.1 11 11 10 9 8 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 Source: USCG

  5. People Participating in Recreational Boating 1990 – 2004 Source: NSGA / NMMA

  6. October 7-8 2003 • NMMA Support • Manufacturers Challenged • Facilitator Coordinated • Brunswick–Genmar–Yamaha–Over 20 Others • Attendees Desired Outcomes • Outside Presentations • Helping Forces • Hindering Forces • Prioritization • Commitment

  7. Grow Boating Challenge “To formulate and execute initiatives that will increase boating participation and will ultimately lead to increases in sales of marine products and services.”

  8. TASK FORCES • Timely and Accurate Retail Sales Statistics • Product Standards & Quality • Dealer Standards & Quality • Marketing Communications and Research • Funding Model • Access to Water • Improved Dealer/Manufacturer Agreements

  9. GE Contributions • Initiative • Prodding • Facilitator • Service • $’s • Commitment • Resources

  10. Thom Dammrich President National Marine Manufacturers Association

  11. STRATEGIC OBJECTIVES A. Increase interest in boating. B. Motivate interested prospects to become boat owners sooner than later. C. Keep current boaters in boating. D. Support and provide oversight of the Grow Boating Initiative.

  12. Marketing Communications “BRING THEM IN” Not Interested Interested “KEEP THEM IN” Marketing Dealer Sales & Service “MIGRATE THEM DOWN” Considering Shopping Shopping Production Quality Water Access Dealer Sales & Service $$$ Purchase Governance & Funding Timely & Accurate Sales Statistics THE GROW BOATING CHALLENGE

  13. “BRING THEM IN” • Advertising • Public Relations • Events • Promotions • Research “BRING THEM IN” Not Interested Interested Considering Shopping Shopping $$$ Purchase

  14. “BRING THEM IN” STRATEGY: Deliver positive messages of the boating lifestyle through an integrated marketing strategy grounded in research.

  15. Target Audience Common Traits of Prospective 1st Time Boat Buyers… • Tend to be “youngish” • 95% purchase 1st boat by age 45 • Moderate to upper income ($50K+) • Concentrated in town / rural / suburban areas • index of 157 • Have had a recent boating experience • Two-thirds participated at least once during past year

  16. US Households That Best Fit Demographic & Geographic Profile Approx: 22,000,000 Current Boat Owners(19% of Target) 4,200,000 Prior Boat Owners(15% of Target) 3,300,000 Never Owned Boat(66% of Target) 14,500,000 How Many Are There???

  17. % of Non Owners Households 100% 14,500,000 69.3% 10,000,000 20.4% 3,000,000 9.3% 1,350,000 1.0% 150,000 30.7% 4,500,000 Current Interest Level(Non Boat Owners) Stage in Buying Funnel… No interest Interest Consideration Shopping $$$Purchase

  18. Why Interested ??? Three primary need segments…

  19. What Is Getting in the Way??? Perception of affordability and other financial priorities are the main barriers Let’s explore the “time” issue further

  20. Recreational Value Boating is competing for one to three weeks of discretionary time Minimum Number of Usesto Justify Owning Boat 24% 22% 20% Median: 15 Uses 11% 9% 7% 7% 0-5 6-10 11-15 16-20 21-25 26-30 31+ Base: Those interested but never owned a boat.

  21. Need To Forge Emotional Connection Personal Relevance Product Relevance

  22. Focus Groups Let’s hear from our target

  23. Perception Current Desired Main message Reason to believe Success Executional must haves There are a lot of limitations, demands and rules on my personal time. I can’t focus on what matters most to me – spending time with family and friends. There needs to be a better way to make the most of that precious time. In a boat I’m free to go where I want. It is the ultimate way to spend quality time with family and friends. On a boat we can make the most of our time with family and friends. It is the best way to bring us together. Boating helps you connect with the people you care about. Boating is the ultimate way for family and friends to reconnect and build relationships in a busy stressful world. Getting away from it all. Boating is fun – memories are made on a boat. Favorable funnel metrics Logo, website, call-to-action. The Strategy Brief

  24. ADVERTISING  Cable Television  Magazine  Internet

  25. Magazine Ads  Stop them  Hook them  Reward them

  26. Magazine Ads  Stop the uninterested!  Hook them--with a desired, relevant benefit  Reward them—with a reason to become interested in learning more about the reconnection benefits of recreational boating

  27. PUBLIC RELATIONS  Lifestyle  Business  Product Placements

  28. SUMMER 2005 PR RESULTS

  29. DISCOVER BOATING EVENTS

  30. “MIGRATE • THEM DOWN” • Website • Direct Marketing • Collateral/Fulfillment • Dealer Certification Roll-Out MARKETING Not Interested Interested Considering Shopping Shopping $$$ Purchase

  31. “CONVERT THEM – On-line and On-site” STRATEGY: Qualify prospects and provide them with meaningful information that will help them decide which boat is right for them. STRATEGY: Improve the sales and service experience through dealer standards and certification.

  32. On-Line

  33. DiscoverBoating.com  Provide content geared to overcome barriers and simplify purchasers’ decisions.  Capture and disseminate qualified leads.  Distribute DVDs on “How To Get Started in Boating”  “Warm Prospects Up” via direct marketing efforts (e-mail).

  34. On-Site

  35. Certification Requirements Footprint CUSTOMER SATISFACTION SCORESCONSUMER BILL OF RIGHTS EMPLOYEE TRAINING FACILITY • Job Descriptions • Performance Evaluations • Annual Employee Satisfaction Survey • Technicians • Management • Product training (Sales & Service) • Competitive for the marketplace • Appearance SALES PROCESS SERVICE & PARTS PROCESS • Approach sales in an organized and professional manner • Inventory = Customers • Product Knowledge • Inspection, demonstration and delivery • Principle provider of service • Technicians = Customers • Timely access to parts, tools, test equipment and service information • Quality Assurance • - On-time delivery • - Repair progress - Explanation of repairs - Comeback Log ProcessFeedback • 100% Sales and Service CUSTOMER FOLLOW-UP PROCESS • Track and trend results

  36. Why Certification? • Certification is a competitive advantage that helps dealerships provide a consistent, positive retail experience to every customer every time • Certification guidelines are tools for continuous improvement and a process for meeting and exceeding customer needs

  37. Program Goal • Provide a consistent process for conducting business that leads to: • Increased customer and employee satisfaction • More efficient and effective Dealerships • Increased profits for Manufacturers and Dealerships • Drive consumers to buy boats and accessories from certified dealers resulting in increased: • Boat and accessory sales • Sales and service profitability • Customer retention • Consistent, quality retail experience • New boating participation

  38. Preparing for Certification

  39. Certification Process 4 1 2 3 Schedule a Certification Inspection Attend Launch Workshop Schedule a Pre-Certification Inspection Get Your Dealership Ready • Review Start Up Kit to understand requirements • Perform a self-review to determine readiness PROCESS GUIDEPage 3

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