Earlier this year, Jeff Merrill joined Merrill Charette in conversation on Charette’s ShipShape podcast. In addition to his podcast, Merrill pens the MarineBiz Insider weekly newsletter on LinkedIn for professionals who steer through the dynamic seas of the Marine Industry.
On Jeff’s episode of the podcast, one of the topics of conversation was his specialty as a trawler broker, and how being an expert in the trawler market has shaped his success and credibility.
After the podcast aired, Charette wrote the following article about his conversation with Jeff – emphasizing the importance of specialization in achieving success in this highly competitive field.
Thank you Merrill!
To listen to Jeff’s episode of the ShipShape podcast, click here.
To subscribe to Merrill’s MarineBiz Insider, click here.
Connect with Merrill on LinkedIn, where he shares regular marine marketing content!
The Art of Specialization in Yacht Sales – Merrill Charette
Fractional Marine Marketer – B2C and B2B Marine Marketing | Marine Marketers of America | SuperYacht Steering Council | Business of Boating Podcast
Published Aug 8, 2024
One could say that the boating industry is a niche in itself, but within this market are micro-niches such as sailing, center consoles, and trawlers.
When you look at the landscape of brokerages, many try to pick up as many boats as they can, becoming a master of none. However, there are a select few that focus on one specific niche in the market. This specialization makes them the go-to resource when buyers start searching for who to work with.
Specializing in a niche market can be a game-changer, as an example of this specialization is Jeff Merrill, CPYB who’s focus is on trawlers.
By concentrating on trawlers, Jeff has become an unrivaled expert, which not only enriches his relationship with clients but also positions him as a trusted authority in the market.
This targeted expertise enables him to offer unparalleled insights and advice, ensuring his clients receive tailored support for their unique needs and preferences.
So lets dive into some insights I gathered from a discussion with him.
Leveraging Technology for Sales
Video is undeniably key in yacht sales. Jeff, for example, has created a YouTube channel with tens of thousands of followers, focusing exclusively on trawlers. As a result, anyone in the market for a trawler is highly likely to come across one of his videos.
In the modern era, leveraging technology is paramount, and video marketing is at the forefront. Videos, especially 360-degree tours, offer potential customers an immersive experience, allowing them to explore yacht details from the comfort of their homes.
Jeff has fully embraced this approach, using videos not only to showcase listings but also to educate his clients.
His personal and genuine demeanor in videos helps build a connection, making potential buyers feel more comfortable and informed.
By niching down and specializing in trawlers, Jeff has become a trusted resource in that specific market, illustrating the benefits of focusing on a particular niche.
Importance of Personal Brand
In Jeff’s videos and content, his face is clearly visible to the audience.
When you consume enough content from a person, you start to build a relationship with them. By consistently putting himself out there, Jeff has built a strong personal brand.
Trust and authenticity are the cornerstones of Yacht Sales. Building a robust personal brand can’t be overstated; long-term relationships and client referrals are vital for sustained success.
Through his videos, Jeff has cultivated a personal connection with his audience. This connection fosters trust and loyalty, making clients more likely to choose him when they need a trusted resource in the trawler market.
Evolving Industry Practices
When you are very focused on what you do, you don’t need to rely on third-party support.
The marine industry is shifting away from relying solely on MLS (Multiple Listing Service) sites (primarily because of price) and moving towards (or attempting) direct marketing and search engines like Google and Bing.
Investing in one’s website and creating unique, high-quality content offers a more sustainable marketing approach compared to depending on third-party platforms.
Jeff’s minimal reliance on MLS sites, focusing instead on his website, is a progressive move that aligns marketing control directly with his business. This strategy ensures that he maintains direct control over his brand and customer interactions, leading to more personalized and effective marketing efforts.
Relationship-Based Sales
Maintaining personal relationships is crucial, especially in high-value transaction industries like yacht sales.
Jeff emphasizes spending quality time with clients face-to-face, reinforcing trust and loyalty. Technology and screens can never fully replicate the value of personal interaction, making relationship-building an irreplaceable part of the sales process.
Insights for New Entrants
For young professionals aspiring to enter the yacht brokerage business, Jeff’s advice is invaluable: find a product you love, seek mentorship, and align your career with your personal interests. This approach not only fosters motivation but also helps build knowledgeable and passionate professionals.
Conclusion
Jeff Merrill’s success with niching down has proven to be the driver of his business. The market, in many regards, is still open for experts to come in and focus on a specific boat type.
Got any questions, reach out to me at mcharette@boatsquarterly.com
