Dominion Marine Media Study Evaluates More Than 2 Million Customer Leads … – SYS


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Dominion Marine Media (DMM), the division of Dominion Enterprises that
operates YachtWorld,
Boat
Trader
, boats.com
and Cosas De Barcos, has announced the findings from its in-depth
analysis of U.S. data across three of its sites. The data revealed the
growing trend of customers buying new boats rather than pre-owned boats
over the past three years.

InfoLink Technologies, Inc., a respected research firm in the marine
industry, conducted the lead analysis for DMM to identify consumer
purchase behaviors and provide overall market intelligence. The firm
evaluated more than 2.3 million customer leads generated across DMM’s
sites between October 2010 and September 2013. It discovered that DMM
communicated directly by telephone or email with around 13% of all new
boat buyers. The study also revealed that in almost 300,000 transactions
in the U.S., people requested information from one or more of DMM’s
portals, representing a conversion rate of 12.4%.

Strikingly, around 28% of DMM leads were new boat purchases compared to
72% pre-owned. This is greatly ahead of the 2013 average for the total
boat market of 18% new versus 82% pre-owned, suggesting that DMM’s
website leads point to a significantly higher propensity to purchase new
boats.

“Though portals such as Boat Trader and YachtWorld have been known as
predominantly pre-owned boat marketplaces, it is encouraging to see that
consumers are using them more frequently to find new boats,” commented
Ian Atkins, president of DMM. “We feel that by supporting an
increasingly healthy used boat market, our portals are contributing to
the growth in the new boat market resulting from the general buoyancy in
the sector. Across the wider market, new boat sales are now approaching
double what they were in the depths of the downturn in 2010, and are
returning to the pre-recession levels seen in 2004-05.”

The trend toward buying new boats was even stronger among market
segments that are recovering more quickly. An example is the pontoon
segment where around 46% of boats purchased through DMM leads were new
compared to 54% pre-owned.

There was some variation across DMM’s marine portals, with boats.com
showing the strongest new versus used split of 33% vs 67%, and Boat
Trader only slightly behind with a split of 29% versus 71%. YachtWorld
showed a lower split of 20% versus 80% that, while still above the
industry average, reflects its expansive volume of sales in the brokered
boat segments, which are more likely to be pre-owned.

Courtney Chalmers, vice president of marketing for DMM, remarked: “After
many months of analyzing this data, we are pleased to share our initial
findings with the market. Of course, we’re encouraged by the figures on
DMM’s own lead conversion rate, but more importantly the data on new
versus used boat purchases gives a strong insight into customer behavior
in the marine sector as a whole. The data shows that consumers may start
their search for used boats but ultimately purchase new, underlining the
importance for dealers and OEMs of capturing this audience quickly and
effectively.”

Peter Houseworth, director of client services at Info-Link, noted,
“These results illustrate the fact that the DMM websites are an
important focal point for consumers who are gathering information and
actively considering a boat purchase. What was surprising is that
consumers visiting DMM sites are far more likely to buy new or later
model-year boats when compared to the general market, suggesting that
DMM is attracting a significant number of prospective buyers looking for
newer boats.”

Dominion Marine Media and Info-Link will be publishing further results
and insights from the analysis in the coming months.

About Dominion Marine Media

Dominion Marine Media (DMM) is the Internet partner of choice for the
recreational marine industry and operates the three market leading web
portals – boats.com, yachtworld.com and boattrader.com. DMM is a
division of Dominion Enterprises, a leading marketing services and
publishing company that provides businesses with a comprehensive suite
of technology-based marketing solutions including Internet advertising,
lead generation, CRM, website design and hosting and data management
services. DMM has offices in North America (Norfolk, Virginia; Seattle,
Washington; and Vancouver, British Columbia) as well as in Europe
(United Kingdom, Germany and Italy) and Australia. The company employs
180 people, has customers in 106 countries and advertises boats for sale
in 166 countries. In 2013, over 52 million unique visitors spent time
researching products on DMM web and mobile sites, apps and social media
outlets. DMM’s global reach includes 23 localized web portals which are
translated into 13 languages.

About Info-Link Technologies, Inc.

Info-Link Technologies, Inc., based in Miami, Florida, is the premier
provider of market intelligence services to the recreational boating
industry. The company maintains a National Boat Registration Database
that contains information on virtually every boat registered in the U.S.
since the mid-1990s. With this information at its disposal, Info-Link
provides clients with valuable insights into the overall size, structure
and key dynamics of the U.S. boating market while also monitoring the
consumer purchase patterns and behaviors that shape the industry. For
the past 19 years, Info-Link has worked with stakeholders throughout the
industry including boat and engine manufacturers, retailers, marinas,
finance and insurance companies, and industry associations as well as
federal, state and local government agencies.


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