If your family is anything like mine, the countdown to summer begins when the calendar flips to May. End of school, warmer weather, and the Memorial Day holiday prompt thoughts of weekends on the water. I bet you – and your marine and personal watercraft customers feel the same way. But nothing ruins the outing more than a boat or jet ski that won’t run or dies in the middle of the lake! As a dealer, what are you doing to ensure your customers enjoy hours of fun cutting waves instead of cutting checks for expensive repairs? More specifically, are you generating revenue from value-based protection products that will keep those recreational units in the water versus on the dock?
As I’m sure you’re aware, the U.S. watersports market is doing quite well. Based on market research from Statista, the watersports equipment market will experience annual growth rate of 4.34 percent from 2024 to 2028. According to the US Bureau of Economic Analysis (BEA), around 100 million Americans go boating each year. Outdoor recreation makes up 2.1 percent of our country’s GDP, generating USD $788 billion in real gross output. Boating and fishing are the largest outdoor recreation activities in the country, totaling nearly USD $23.6 billion. While that’s great news, these numbers don’t put dollars on your balance sheet or customers on your doorstep.
What does reach customers, and tangentially your bank account, is building a strong transactional relationship with current and new customers. Recognize that your customers may be planning for that summer getaway without considering the functionality of the toys they plan to take with them. Make it your job to protect their vacation and their marine and personal watercraft vehicles.
