Marketing for Play OR Profit?
There is nothing wrong with either - as long as you have a well conceived marketing plan.
Problems arise when you don't have a plan.
Or are confused about your objectives.
You can't have it both ways.
Fun and profit.
That is almost impossible.
Sooner or later, the IRS will see to that.
Eventually your true colours are revealed.
Or your good intentions misunderstood.
Interpreted in the most negative light possible.
Is your marketing consistent with your objectives?
Some "marketing" may actually be counter productive.
Now you can, and should have fun while making a profit (actually we proffer that making a profit is a lot more fun than not). However the marketing efforts will be drastically different depending on the actual objectives.
If you are only marketing for fun or to recover some hobby costs or lifestyle expenses, you can be more casual. But if you have a business and claim business tax deductions, prudence and the IRS require you to be more diligent.
That starts with your marketing plan as part of your business plan. One that clearly identifies the desired destination and specific route to take, the objectives and specifically enumerates the procedures to implement to achieve your financial success.
The lack of a quality detailed marketing plan demonstrates that you don't care about the signals you are sending. You have no way to evaluate the messages you are sending, or what others are or are not sending on your behalf, to whom, by what means, and if the messages are being received by the proper parties, how they are interpreting your message?
However even without a proper marketing plan, or any thought at all, you and maybe others are still probably sending out messages - of one type or another -about your boating lifestyle.
So without a marketing plan and diligent implementation and oversight, what signals might you actually be sending about you and your boating endeavors?
That you are a magnificent maritime merchant - or a muddled mess of marketing mistakes and misfortune?
That you are a legitimate business with a true profit motive- or just a hobbyist cloaking the recoupment of some of your luxury lifestyle expense, only masquerading as a business trying to pirate some illegal tax benefits?
Do your marketing efforts present you as professionally promoting a business, a hobby, or maybe only an ego? Or maybe you are just inviting an IRS tax audit by inconsistent messaging.
Perhaps you are not intentionally promoting anything? Maybe you don't have a marketing plan at all? Or have not changed your marketing plan in years?
In which case, like many in the charter boat "industry" it would seem you are only marketing for fun, with no intention or even attempting to actually make a profit.
In the marine industry and especially for the owners of charter yachts, there is a plethora of “marketing services” and magazines, producers of web sites, brochures, videos, yacht shows, social media and a wide range of “experts” of all types that promise much but often disappoint. Even many yacht brokers and yacht charter brokers are now offering what they represent as “marketing services”.
This is how the industry has evolved. Brokers sell boats by convincing buyers to place the boat under the brokers' charter management to help defray the operational costs. This works reasonably well for the casual and the hobby owner, but seldom does it produce consistent long term net profits for yacht professionals.
Corpen Communications doesn't replace traditional forms of yacht management and marketing. but builds upon it. For those yacht owners that would like to make the yachting lifestyle more affordable as well as those professionals actually interested in enhancing the bottom line of their boating business.
Corpen signals a new direction for yacht owners and marine professionals that expect their marketing efforts to actually enhance their bottom line net profitability. Following Corpen’s new direction can also signal to the IRS a yacht owner with a legitimate profit motive willing to make a change in search of greater profitability and not just a yacht owner with a hobby, content with annul losses as just part of the expense of enjoying the yachting lifestyle.