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SmokerCraft Dealer's Meeting - 08 / 2012

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Slides from a one-hour presentation to dealers of SmokerCraft boats. Some content on boat buyers, lots on how to sell to the different generations and how they buy.

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SmokerCraft Dealer's Meeting - 08 / 2012

  1. 1. Selling Acrossthe Generations - Smoker Craft 1
  2. 2. For more info: Cam Marston Generational Insights 251.479.1990 cam@generationalinsights.com www.generationalinsights.com Find us on Facebook: Generational Insight and on Twitter: GenInsight Copyright 2012, Generational Insight 2 2
  3. 3. Available onAmazon.com 3 3
  4. 4. 34 4
  5. 5. Generations:•Matures > 67 yo•Baby Boomers 48 to 63-66 yo•Gen X 33 to 47 yo•Millennials!! < 32 yo 5 5
  6. 6. Quick Stats: Fishing• The majority of fisherman today are white, college educated males who make more than $100,000 per year and are over 45 years old.• Nearly 20% of adults with children take their children fishing.• New participants join the ranks of those that “fish” at 18% a year. However fishing loses participants at a rate of 19% a year.• The majority of “lost” fishermen are Generation X’ers. 6 6
  7. 7. Quick Stats: Boating• 7% of the population own boats and the majority of those boats are bass boats.• 55% of those that bought boats in 2010 purchased their boat new.• Millennials bought a lot of the new boats (64%) and about half of them financed it.• The Matures bought the second most number of boats (59%) and only 9% of them financed it.• Gen X bought the fewest boats (40%), followed by the Boomers (53%). 7 7
  8. 8. 2002 - 2010 Boating Participation #s & Mean AgeYear Participants Mean Age - Male2002 26,626 36.12003 24,192 36.42004 22,773 36.32005 27,539 35.62006 29,258 36.62007 31,854 36.22008 27,816 37.02009 23,959 37.72010 20,081 38.9 8 8
  9. 9. What seems to matter to themMatures & Boomers:•History of organization•Name recognition of organization•Tenure in the marketplace•Historical & Perceived Quality 9
  10. 10. What seems to matter to themGen X & The Millennials:•The Individual, the Ego•How things will affect their lives•How things will make them distinct•How you’ll impact their future•How they’re different. 10 10
  11. 11. Matures 11
  12. 12. Matures (Born prior to 1946)•Dedication, sacrifice.•Experience will always be the best teacher.•Conformity, blending, unity – “We First”. Team•Hard, hard times then prosperity – still value moderation.•Deference 12
  13. 13. Matures (Born prior to 1946)To sell to Matures:• Let their experiences lead you...• Ask for the “rules of engagement.” •Ex: What can we do to earn this business from you? Are there some things we must do?• Testimonials & institutions (government, companies, people). 13
  14. 14. Matures (Born prior to 1946)To sell to Matures:•Quality is important – they’ll measure it through their own experiences. Remember, your measure of quality and theirs may be different.•NEVER mention a product is good for their age group.•Standard and prepackaged is good•Quality is king. Speak to it. 14
  15. 15. Baby Boomers (1946 - 1964) 9 15 15
  16. 16. Baby Boomers (apprx: 47 to 65 yrs old)•Workaholics•Competitive•Success is largely visible - trophies, plaques, certificates, etc.•Defined by their work•We are the world, We are the children 16
  17. 17. Baby Boomers (1946 - 1964) 1970 2012Killer weed Weed killerAcid rock Acid refluxHoping for a BMW Hoping for a BMRolling Stones Kidney StonesTrying to look Trying NOT to looklike Liz Taylor or like Liz Taylor orMarlon Brando Marlon BrandoLong hair Longing for hair 17 17
  18. 18. Baby Boomers (1946 - 1964)Connecting with the Boomers:• Talk to them about how you’ll save them time.• Talk to them about how you’ll make the purchase and financing easy. –BUT be very careful of too many technology solutions. 18 18
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  20. 20. Baby Boomers (1946 - 1964)Connecting with the Boomers:•Help them feel victorious. Visible gifts.•Become a member of their team. Not exclusively internal – can include vendors. –Ex: “To me, this is not just about selling you a boat, its about becoming a sort of teammate.”•Two overriding themes: Forever young. Rebellious. (Example – Cadillac, Harley Davidson.) 20 20
  21. 21. Baby Boomers (1946 - 1964) 21 21
  22. 22. Baby Boomers (1946 - 1964)Communicating with the Boomers:1) Face to face is number one. Relax. Fluid sentences. Have fun. They’re an optimistic group!2) Telephone. Follow same rules.3) Email - Full sentences. Few abbreviations. Opening and Closing.4) Via Web - maybe / maybe not5) Texting - depends on the person. Often OK for kids but not for vendors. 22 22
  23. 23. Generation X (1965 – 1979) 23 23
  24. 24. Gen X: 33 to 47 yrs• Question authorities• No shared heroes. Their heroes are people they’ve met & know.• Watched the days of lifelong employment end. Don’t believe it will happen to them.• Shorter time horizons than other generations• Time is a currency.• Carpe diem - Seize the day! If you’re not enjoying it, don’t do it.• “Prove it to me.” 24 24
  25. 25. Gen X (apprx. 33 to 47 yrs old)Selling Gen X•List all the available products, services, options, etc. Everything.•Emphasize the short term solutions – Carpe Diem.•Show back up plans… B, C, and D.•They’ll use the technology available to double check what you’re telling them. Anticipate it. 25 25
  26. 26. Gen X (apprx. 33 to 47 yrs old)• Distrust anything too promotional, sales-y, or marketing-y. –Sell the steak, they’ll see right through the sizzle.• Data and information. More is better.• NO vanity advertising. NO photos of you.• Where to go for more information - websites, referral sources, product / service reviews, etc. 26 26
  27. 27. Communicating with Gen X• Probably will prefer email updates.• Likely let your calls go to voice mail and then check the message to see how important it is and how quickly they need to call you back.• Texting is OK if content is 1) a request or 2) information: Call me when you can. Or: Just got your msg. Can I call tomorrow to ask some q’s?• Face to face: Your clients will not want to make hard and fast decisions face to face. Let them think about it and do their research. 27 27
  28. 28. Millennials (1980 ~ 2000 28 28
  29. 29. Millennials: (apprx. 32 yrs old & less)• Individuals w/ a group orientation (team?)• Optimistic• Well looked after.• Hard time focusing.• More altruistic other generations at a younger age.• Busy & stressed at a young age.• Raised as their parent’s friends.• Are not adults. Are not adolescents. “Adultolescent” phase.• “Future” is very short term.• Huge goals. Clueless on the execution. 29 29
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  33. 33. Q: What do their messages have in common?A: A strong sense of individuality. You’re special already. 33 33
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  37. 37. Then vsNow 37 37
  38. 38. Audie Murphy• Medal of Honor• Distinguished Service Cross• Silver Star• Legion of Merit• Bronze Star• Purple Heart• US Army Outstanding Civilian Service Medal• Good Conduct Medal• Distinguished Unit Emblem• American Campaign Medal• European-African-Middle Eastern Campaign Medal• World War II Victory Medal• Army of Occupation• Armed Forces Reserve Medal• Combat Infantryman Badge• Marksman Badge with Rifle Bar• Expert Badge with Bayonet Bar• French Fourragere• French Legion of Honor, Grade of Chevalier• French Croix de Guerre• French Croix de Guerre with Palm• Medal of Liberated France• Belgian Croix de Guerre 1940 Palm 38 38
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  40. 40. Millennials Today (apprx. 31 yrs old & less)Connecting with the Millennials•Advice must have an immediate application to them.•Must be unique to them.•Want what their friends have and what their friends are doing with a unique twist. 40 40
  41. 41. Millennials Today (apprx. 31 yrs old & less)Connecting with the Millennials•Spend time. Answer questions. Become a non-stressful provider of information. Be consultative.•“Sensitive to my needs.”•Individual relevance – “Why is this important to me?” 41 41
  42. 42. Millennials Today (apprx. 31 yrs old & less)Communicating:•Texting is OK. Preferred! Do it.•You must be present on the social technologies.•Recognize individuality and uniqueness. Very important.•Parents! Don’t forget about them. They’ll want to talk toyou, too.•Printed: Simple. Sleek. Modern.• Be authentic. Be genuine. Be helpful. Don’t try to fake“cool.” 42 42
  43. 43. Selling Acrossthe Generations 43
  44. 44. Exceptions to the rule:•Oldest children. Or a child born five years after their older sibling.•Military• Raised on a farm• Immigrants from non-Western nations ‣And their kids, sometimes…•From a culture with a rigorous shared Rite of Passage 44
  45. 45. Top 4 Take Aways:• With Gen X & Millennials - No more “let me tell you about my company.” Now it must be “Tell me about you” and “Let me tell you about you.” Teach, don’t sell. (This will work in attracting new employees, too.)• With Boomers and Matures - Your history - company, brand, personal - give you the right to ask for the business. Ask for it.• It will help if your salesforce looks like your targeted customers.• Same life stages will happen at older ages. Therefore expect your products to be sold to more savvy buyers. 45
  46. 46. Points to Ponder:• The Millennials are buying and financing their purchases. Large pool of potential customer. And may inherit some money.• They will soon hit the next life stage and I expect their purchasing power to decrease as kids take over.• The typical boaters - wealthy white males - are thinning out. Not replacing themselves. Smaller families, less money, etc...• The Gen X boater is a tough customer.• But if I’m in a family owned boating business and I’m the next generation, the Gen X customer is a MUST for me. They have the kids that will build your business for the future. 46
  47. 47. Points to Ponder:• For the younger generations of boaters, your story is less important than their story- its about them, not you.• The Gen X SuperParent is obsessed with their children’s experiences, so take the family on a test ride. Do everything possible to make sure the kids have fun.• Ask your Boomer customers about their children. Listen for opportunities to meet the kids. Make a connection with the kids but don’t try to fake cool - its an agonizing thing to watch.• With the Matures: You’ve earned this. Go. Enjoy yourself. 47
  48. 48. Selling Acrossthe Generations 48