A fascinating question — is it better to sell price or cost? Meanwhile, something’s that definitely better is our national Discover Boating campaign’s launch of a new Spanish website.
One of my favorite business and motivational best-selling authors and bloggers is Seth Godin. His daily variety of thought-provoking observations is something I look forward to reading.
He recently blogged on “Price vs. Cost,” and he raised something worth thinking about by every salesperson in our boat dealerships. When selling a boat, is it better to focus on price or cost? Should cost even be part of the selling equation?
Godin contends that price is nothing more than a simple number. Prospects merely have to consider how much money they need to hand over to you to get the boat. Cost, on the other hand, is more relevant, more real and a lot more complicated.
For the prospects, cost covers all they have to give up to get the boat. Cost is how much to feed it, take care of it, maintain it, troubleshoot it, store it and more. In Godin’s view, then: “Cost is the externalities, the effluent, the side effects.”
He goes on to point out that in most cases cost actually matters more than price. So cost may be the hidden impact and shopping for price, then, is really a trap. In fact, National Marine Manufacturers Association president Thom Dammrich made just that point at the Miami International Boat Show in February. Only 2 percent of people who research the purchase of a boat pull the trigger, and that’s in part due to “a lack of transparency of what the real cost of boating is.” The people who are frightened away from making a purchase aren’t put off by the extra costs, but are repelled by the fact that they’re hidden. “This is a challenge we’re going to need to deal with,” Dammrich said.
If Godin is right, it begs consideration of whether a salesperson would be smart to address cost when working with a prospect. Are there positive selling points in the cost of buying the boat from you and doing subsequent business with your dealership? It seems logical that a salesperson who focuses on only price and gets the deal may be leading customers down a short path to disenchantment when they see the cost of the new boat. If that happens, it’s not likely that such customers will be loyally blowing air kisses to you in the future.
Selling price vs. cost, then, is something each salesperson must decide. But subscribing to Godin’s daily blog is an easier decision.
New Spanish Discover Boating
Discover Boating, our industry’s national consumer promotion, recently launched a new Spanish-language microsite to provide a resource for Hispanics looking for more information about getting started in boating — see es.discoverboating.com.
We’ve talked in this blog before about the growing Hispanic population and its impact on boating’s future. For the record, the Census Bureau estimates that the Hispanic population will reach a record 58.6 million this year and that it accounted for more than half of total U.S. population growth last year.
The new website encompasses Spanish-language versions of the most popular resources and information from DiscoverBoating.com, including the popular Boat Selector Tool, Marina Finder and 23 recently updated boat detail pages. Site visitors can also order the Spanish-language version of the Beginner's Guide to Boating.
The DB team worked closely with the Recreational Boating and Fishing Foundation during the website development period. Indeed, DB has continued its strong partnership with the RBFF’s highly successful “Take Me Fishing” campaign, which includes the RBFF’s Spanish-language version, “Vamos A Pescar.” And, notably, DB’s new Spanish language Boat Selector Tool has also been integrated on the RBFF’s successful VamosAPescar.org.
The increase in Hispanic families continues to be the fastest-growing segment of our U.S. population. You can learn more from the RBFF’s excellent Hispanic market research by clicking here, and specifically on Hispanics and boating by clicking here.