Marine Industry
Previous experience
Developed and implemented a new commercial and dealer strategy to meet company growth aspirations and develop the growing markets in the Americas and Asia Pacific. Successfully launched two new award winning yachts at international yacht shows and achieved significant sales. Restructured the sales and marketing team to provide dedicated focus on product groups and key markets. The business has subsequently been purchased by a Private Equity Company with good long term prospects. During his tenure, the Fairline Yachts team won numerous awards with the Targa 45 Open, Squadron 68, and the prestigious “2020 Powerboat of the Year” award for the highly acclaimed F//Line 33!
Best practices
Sales & marketing strategy
The sales & marketing strategy is key to realise the company vision, business plan, budget, and growth aspirations. Often this plan becomes more tactical than strategic due to short term goals and shareholder pressure. A medium to long term strategy with help to differentiate you from the competition, have clarity to customers what you stand for, and how you will compete in this crowded market space. It should allow for creativity and bold thinking, with unequivocal buy in from the senior leadership team and shareholders. A well thought through and executed sales & marketing strategy will support premium retail pricing and margin realisation.
Market & competitor analysis
Before embarking on grand plans of new product development, attending expensive boat shows, and that inspirational digital media campaign, is to thoroughly understand what the customers wants, what you or your dealer network will be able to sell, and what the value proposition is. Performing quantitative and qualitative market analysis is one of the best investments you will make. There is good data available such as Phil Draper’s excellent quarterly market data reports. Usually the issue is lack of resource and time. Roos Strategic Partners has the expertise to perform a comprehensive market study to support your strategy and growth aspirations.
Dealer blueprint tool
As the business grows and you expand the dealer network across the world, is your route to market strategy supporting your future businesses objectives? Do you keep selling through a dealer network or decide to go direct? Do you give a dealer exclusivity for the region or sign them up on a “point of sale” basis. What are the legal implications?
A dealer blueprint is a hugely effective tool used by large automotive corporates to answer these questions. Adapted to the marine industry, It ensures you have the right dealer partner, with the right businesses plan, and in the right location. It will also include important KPI’s, minimum dealer standards, and market opportunity.
New product development and long range planning
Unlike automotive product cycles that usually last 7-9 years, the marine industry and particularly customers demand constant new products. This places significant pressures on yacht manufacturers to drive aggressive new product development programs with huge capital expenditure requirements. Thoroughly understanding the market (see market and competitor analysis column) is vital to asses the opportunity prior to gateway one and signing off investment budgets. There is an increasing consumer demand for the use of more recyclable hull materials and green propulsion systems. Also using recycled materials for the interior design.
Annual Operating Plan and Pipeline Process
The annual operating plan (AOP) is the sales target that supports the company business plan and production gantt. The internal target can be divided by region or sales person. The AOP process also creates a sales target for each dealer. We suggest to have formal dealer target reviews every quarter as a minimum. Linked with the AOP, is the pipeline process to manage future sales opportunities. A good CRM system that allows factoring and one that is linked to the supply chain process, will help with forecasting parts supply.
Dealer Agreement, KYC, anti-bribery & money laundering
As businesses develop and grow over time, dealer Agreements can have different iterations and updates. This means that you have dealers on different contracts with different expectations. Mitigating these in the future can be time consuming, expensive, and could have legal consequences. With recent UK legislation changes and the Brexit impact, it’s now more important than ever to have a dealer Agreement template that supports your business objectives. It also should incorporate KYC (know your customer), anti-bribery, and anti-money laundering policies and procedures. This is crucial from a risk mitigation perspective and supports the due diligence process when you are seeking extra funding or are looking to sell the business.
Market analysis
Dennis grew up in the family marine business who manufactured commercial rapid response vessels for harbour patrol and marine rescue services across the world. With a deep interest in the maritime industry, he enjoyed being on the water whenever possible with the family. Whether it was on the family sailing yacht or motor cruiser on the North Sea. When the opportunity was presented, he cherished the chance to work for a luxury yacht manufacturer when joining Fairline Yachts as their Commercial Director and Director of Fairline Yachts Design Studios.
Dennis is now looking to expand his career as an interim manager and consultant to the wider marine industry. He has a unique combination of skills gained in the automotive and manufacturing industry that he can apply to luxury yacht manufacturers and the supply chain to support strategic and tactical projects
“I have a real passion for the marine industry and in particular innovations that promote sustainability and green energy for future generations to enjoy responsible boating”