Why an accreditation model - I already attend boat shows?

Why an accreditation model - I already attend boat shows?

It's all about differentiation and vetting against a common standard.

Assuming there are 100 brokers at a boat show, and they are all "vetting" boats according to 100 different methods and personal opinions, this model is clearly not the most efficient or effective. And let's be honest, many brokers will always first market boats within their own portfolio, but if they have no options, they will market any boat, whether they have seen it or not. This is why star gradings work so well.

Take into consideration the benefits of incurring the costs of attending boat shows and ask yourself whether there is sufficient tangible value? What is the real cost of a boat show against your return, especially when taking into consideration your "opportunity costs" for not being on charter during this time? We do accept that there is value to be had; however, until now there has not been an alternative.

What does boat show attendance mean to the consumer, compared to an internationally recognised star-grading? Very little.
Accreditation means that vessels can now be vetted in an organized fashion, using a standard methodology. With all vessels being vetted by the exact same criteria, by the same company with software designed to remove subjectivity and bias (as far as possible) and for far less than most boat show attendance costs. Accreditation can and will add an immense amount of value not only to the industry, but to the boat as well.

Having a star-grading shows the consumer that vessels have been independently vetted. Every consumer understands the star grading concept, which also offers peace of mind as perceived risk is minimizing. Sure, brokers explain that vessels have been checked by them at boat shows, but without a standard to ensure that all brokers are as astute as each other, the result is that vessels can only be marketed by a handful of brokers. Alternatively, brokers end up marketing vessels that they have not personally vetted and herein lies the problem. Given the choice, we can guarantee that consumers would feel a greater level of comfort with an accredited vessel. Wouldn’t you? Of course. And this is especially true for first timers.

Charters aside, owners would have greater peace of mind that vessels are in top shape and maintain this year on year. Doesn’t that offer a greater deal of comfort?

Where is the feedback on your crew? You’re told they are doing a great job; however, hear it straight from guests via an electronic survey form. Want to improve your number of repeat charters? This critical feedback would help.

It’s a fact consumers like to minimize risk; accreditation does just that.

In this already competitive industry, all boats are all looking to get the edge. While some vessels will take advantage of the new star grading initiative, others may not. Surely, you don’t want to remain unaccredited, while your competitors are proudly displaying their star grading on marketing collateral like brochures and 3rd party websites?

Questions owners should be asking:
• What does it mean in real terms if the vessel attends a boat show?
• Are all boat shows deemed as equal?
• Do the same brokers attend all boat shows?
• Do all the brokers vet the vessels to the same standard?
• Is this information freely shared among all brokers to the advantage of the consumer and betterment of the industry as a whole?