Unless you have been living in a cave the last decade or so, you are well aware of the power of social media, and particularly Facebook in disseminating news, building a following, and creating brand awareness.

For most successful businesses today, “social media marketing,” is an integral part of their overall advertising and marketing strategy. However, the yachting industry has been a little slower than most, to really leverage the power of Facebook. At the recently concluded Superyacht Forum in Amsterdam, it was suggested that our industry can take a few lessons from the social media giant, specifically, a few pages, from their “Little Red Book.”

However, in his talk at the Forum, Paul Kemp-Robertson, of Contagious Communications, was not there to talk about how to use Facebook in your marketing efforts per se, but, more to examine how they, as a company, grow and remain relevant in a rapidly changing environment. They use a strategy that involves the company’s “Little Red Book.” According to Kemp-Robertson, as discussed in column by Rachel Rowney in SuperyachtNews, “When a new employee joins [Facebook], they are given a ‘Little Red Book’. Within its pages are various mottos, mantras and ideas, but one is especially striking: “If we don’t create the thing that kills Facebook, someone else will.”

The book continues: “Embracing change isn’t enough. It has to be so hardwired into who we are that even talking about it seems redundant. The internet is not a friendly place. Things that don’t stay relevant don’t even get the luxury of leaving ruins. They disappear.” According to Kemp-Robertson, each Facebook employee is encouraged to dedicate time looking at the flaws of the company – indeed, their own product – and to try and make it obsolete.

Embracing change as business strategy is not a groundbreaking concept. What intrigued Kemp-Robertson most about Facebook’s strategy, is the idea that employees are instructed to find ways to actually destroy the company. It is kind of like the ultimate in preventive maintenance, find every way possible to sink your ship, and you will be well prepared to weather any crisis!

Ben Barry is a designer, who created the “Little Red Book,” during his time at Facebook, he has created a website, where you can get a glimpse at some the pages in the book, if you want to see the whole thing, you will just have to get a job at Facebook!

Courtesy Superyacht Forum 2017

Why Does the Yachting Industry Need to Evolve Now?

Why should any of this matter? Why is it so important that we, as an industry, need to start doing things differently, and soon? According to Kemp-Robertson and other experts from other industries, it is because we are about to experience, “the largest transition of wealth in history; over $4 trillion between generations. This will occur when the baby boomers will leave their vast amounts of wealth to their descendants, many of whom are millennials.” This will create a marketplace of high-net worth individuals, with values, needs, and desires that are vastly different from those of their parents and grandparents. They will need to be marketed to, in very different ways that appeal to their unique values and sensibilities.  Kemp-Robertson says that an industry like yachting, rooted in doing the same things the same way for generations, cannot attract that new generation of buyers, without some serious self-examination. Facebook’s “Little Red Book,” strategy presents an excellent model for self-refection and evolution.

In the Market for a Makeover?

How we in the yachting industry market ourselves to our clientele, may not be the only thing on the water in need of a little makeover. If it is time for you to upgrade, or refit your yacht, keep watching these pages, as we bring you news of some of the world’s most amazing yacht transformations. And, if you are ready for a refit or upgrade of your own, remember, our refit specialists are here for you. We can modernize all of your yacht’s critical systems, from the electronics to her engines, as well as make any interior or exterior repairs, making her as good, if not better, than the day you bought her!

Operating a motor yacht can be costly. You can reduce your expenses, and avoid costly repairs by keeping her well maintained. On Demand yachting from FYM can help. If you would like to learn more, or if you have any questions or comments about this blog post, do not hesitate to contact our Yacht Management specialists, or call us at (954) 900-9968.

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