Social Media in Budget Marine’s Future: To Boldly Go Where Budget Marine Hasn’t Gone Before

Budget Marine Facebook

Located in the Caribbean and spread out among many island nations, Budget Marine has a reputation for being a leader in the region’s marine industry.

Budget Marine embraced social media as a sales and marketing tool over a decade ago.  It also implemented a social-media based intranet to encourage internal communications (Koerner-Gifford, Katherine (2017), Employee Involvement Key to Budget Marine’s Success, University of Waterloo Archive, May 17, 2017).

As for the future?  To quote company founder, Robbie Ferron, “There is no turning back.  Period.”  (Kroon, Els, Robbie Ferron A Dynamic Driving Force for Thirty Years, All at Sea Magazine, March 1 2010)

By means of this course, Budget Marine has been exposed to the ways in which it can better utilize social media to enhance business performance.

Supply Chain Management

Angus Hodge, Supply Chain Manager, quickly identified the potential benefits of using social media as a business tool (Koerner-Gifford, Katherine (2017), Budget Marine sees Bright Future for Social Media in Supply Chain Management, University of Waterloo Archive, June 5, 2017):

1. Shipping – Shippers can use social media to inform Budget Marine of shipping delays, allowing them to manage product availability expectations.  Also, Head Office at Budget Marine can use social media to inform the locations of shipping schedules so that they can anticipate product availability.
2. Expanding the Talent Pool – Budget Marine can use social media to connect with local students studying abroad and entice them to include Budget Marine in their future career plans.

Social Media Metrics

Budget Marine can use social media metrics more effectively to analyze customer activity.  For instance, the significance of getting 100 hits per page changes when you discover that 25 were in-house.  Better analysis of social media metrics will result in better business decisions.

Marketing

Budget Marine’s Facebook presence shows that they’re committed to the yachting community and its customers.  Their posts engage customers through product promotions and by sharing event news and sponsorships.  Most recently, Budget Marine posted its sponsorship of Antiguan Olympic sailor, Karl James, in this year’s Caribbean Laser Championships; solidifying their commitment to the sport, to local sailors, and to youth sailing programmes.

Lessons for Others

As Robbie Ferron says, “There is no turning back.”  As customers’ and supply chain partners’ use of social media evolves, so Budget Marine’s use of social media will expand to bold new frontiers.

If you have concerns as to the accuracy of anything posted on this site, please send your concerns to Peter Carr, Program Director, Social Media for Business Performance.

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