The Motorcycle market has experienced 12 straight years of growth!
Are you seeing your share?
 
Think about your business and consider these recent statistics from the Motorcycle Industry Council (MIC)
- Since 1998, there has been a 34 percent increase in the number of motorcycles use in the US

- Female motorcycle ownership is up to nearly 10% of the total motorcycle owner population.

- Median household income of motorcycle owners exceeds that of the U.S. population as a whole.

- 43% were purchased new, up from 33% in 1998. - The median age of today’s rider is 42, up from 38 in 1998.

- 29% of today’s riders have college degrees, compared to 23% in 1998. 
Tapping into emerging trends and market growth requires thorough planning and coordinated execution. Your Go-To-Market plans must address trends before they are tapped out, growing revenue and improving profitability while increasing market share.
 
Easier said than done? It is all in your approach.
For example – take the first trend listed above:
 
 
Since 1998, there has been a 34 percent increase in the number of motorcycles use in the US 
    Are you a Dealer or part of a Dealer group? For you the questions might be: 
    - Does this number reflect your unit sales growth?
    - If not, WHY? Location? Brand Preference? Ineffective Marketing or Selling?
    - Do you know?
    - If you know, what steps have you taken to address the situation?
    - How are you teacking results against those steps?
    - Do your Manufacturers make success easier to attain?
    - Is service proactive in using winter to get customers in?
    - Do you methodically suggest new models to customers every few years?
    - Is your showroom a destination for local riders?
    - Lowered the bar to entry by blending MSF courses into the sales model?
    - Ceded a large percentage of Total Customer Value to on-line competitors?
 
 
The median age of today’s rider is 42, up from 38 in 1998 
    What do Manufacturer’s what do you think about this?
    - Sure 42 year olds have more disposable income – but is this the future?
    - Where are the waves of younger riders coming into the market?
 
It could be argued that the current cruiser obsession marks a nostalgic moment when machines and price points captured the literal heart of the Baby Boom market   (post WWII through the 60’s). Is today’s cruiser buyer is motivated as much by the connection with their youth as their love of motorcycling – could be and there is certainly nothing wrong with that – BUT – the Baby Boom story doesn’t necessarily resonate with other generations.
 
Chasing an aging demographic can be risky business, just ask Cadillac.
Who is going to capture the youthful hearts of today?
This trend in the demographic suggests that no one has yet
– this is a WIDE OPEN category.
Anyone interested?
 
 
The median household income of motorcycle owners exceeds that of the U.S. population as a whole. 
    Are Aftermarket Manufacturers & Services Providers maximizing access to this income?
    - Are you simply a commodity wholesaler? Or are you really different?
    - Do your distributors really know how to sell your product?
    - Do you team with your distributors to be great at capturing TCV?
    - Do you help distributors understand outfitting a rider with your equipment?
    - Do you have a direct relationship with your rider customers?
    - Do you provide excellent support, exceeding customer expectations?
    - Are you manufacturing products designed specifically for Women riders?
    - Do you methodically suggest customers upsell from older equipment?
 
Regardless of where you fit into the Industry chain – Bikes, helmets, jackets, gloves, boots, bags, parts, goggles, hats, t-shirts, magazine subscriptions, tours, etc, etc, etc… Success in a growing market is all about planning and execution – not dumb luck. However, it is often surprising to see the number of companies willing to be one of the pack - their success largely tied to trends beyond their control.
 
Of course, we cannot control everything, but true market leaders more often than not emerge once they decide on a distinct course of action or strategy – execute without wavering against that strategy and do not let roadblocks stand in their way. Are you one of those companies?
 
Growth markets are a great place to make your own success.
Good markets or bad, the best succeed through rigorous planning and execution –is that you?
 
Keep ‘em rolling