Issue link: https://read.dmtmag.com/i/173871
Photo by Michael Thoney Photography "I've been an advocate … that you have to have people that mirror the demographic you're looking to pursue." shift was an important part of the company's strategy, Sandoval said. "I've been an advocate … that you have to have people that mirror the demographic you're looking to pursue," he said. "When we bought the business we were in our late 30s and a lot of the people we were talking to in our circles were in similar life situations to us – recently married, one – Lou Sandoval, Co-Founder or two children – so we really started promoting that use of the boat as a family getaway spot." At shows and in other marketing, the Karma team emphasized that a Beneteau wasn't someLeadership Council and other groups. thing someone had to wait to own, focusing on The company won Beneteau's Dealer of affordable monthly payments and talking about the Year award in 2011 and has won multiple making it a part of family life. Beneteau President's Awards At the same time, Sandofor sales and service. Karma val was pushing Beneteau to has sold more Beneteau 36.7s include a more diverse pool than any other dealer in North of models in their photograAmerica and owns a 38 percent phy, showing more women market share – up from 25 perat the helm and more families cent in 2002. » Average Karma Yacht on the boat. Perhaps most impressively, Sales buyer age, down The same rules apply to the Karma team has lowered from 58 before Sandoval attracting other ethnicities to the average buyer age from 58 purchased the company boating, he said. to 52 over the last decade. That 52 www.BoatingIndustry.com P14x20-BI13OCT-MoversRoch.indd 21 "People like to do business with people they can relate to – the more diverse pool you have in service and sales, the better," he said. "Like attracts like." Karma has been focusing on tapping the Hispanic business owner market by partnering with local business networks in Chicago and hosting an event for the U.S. Hispanic Chamber of Commerce. Hispanic media has also picked up on Sandoval's story, generating positive coverage for him and the company. While minority groups offer significant untapped potential, the industry needs to be thinking about all potential customers. "Our growth has to come from expanding awareness of boating, period," he said. "It's really easy and simple to continue doing what we've always done and that's not working." That's why Sandoval thinks it is so important to participate in efforts like the Growth Summit and Recreational Boating Leadership Council. "I was raised to be very conscious of not only making a living but trying to create something better," he said. "If we grow the exposure of the industry, it grows the opportunity for everyone." October 2013 | Boating Industry | 21 9/5/13 11:37 AM