How do we leverage data to boost wine sales and refine marketing strategies? How do we collect and use data to enrich the consumer experience? How do we use trend data for strategic planning and forecasting? These were among the questions addressed in a panel session at last week’s Wine Industry Sales Symposium (WISS) in Santa Rosa, hosted by the Wine Industry Network (WIN).
Moderated by Susan DeMatei from WineGlass Marketing, “Data in the C-Suite: Leading from the Top,” framed discussions among wine executives and data leaders around two levels of data to which wineries are exposed. The first is industry data, collected by external entities, analyzed as macro trends, and disseminated through market reports. The second type is microdata, or consumer data collected during sales and visits, captured in a Customer Relationship Management (CRM) system.
Utilizing Wine Industry Trends
Panelists discussed their winery’s use of industry data often shared in reports by groups like Silicon Valley Bank or the Wine Market Council. Debi Leal from Knights Bridge Winery talked about how macro data informs upper management decisions. To interpret these trends effectively, wineries need to understand their position in the industry and assess how trends align with their goals and objectives. Another panelist emphasized utilizing trend data for forecasting and optimizing advertising and promotions.
Seamless Data Collection
Lindsey Eddy-Cort from Distinguished Vineyards suggested implementing QR codes at tastings and events to gather consumer information effectively and early in the process. She also stressed fostering a data culture within organizations, ensuring everyone is involved in data processes, from input to cleaning and extraction. Ridgely Evers from DaVero Farms & Winery emphasized the importance of developing and establishing systems that yield exceptional data through regular business activities.
Critical Analysis and Measurements
Lindsey highlighted the importance of evaluating the performance of new wine experiences or products to gauge their success and return on investment. Regarding visitation data, it’s crucial to not only track visitor numbers but also understand their purchasing behavior. Cathy Huyghe from Enolytics shared that the single most clicked link is who is at risk of leaving the wine club, a winery’s most profitable channel. She followed up by saying that segmentation of the data provides the biggest returns. It allows you to personalize the communication and make “the right offer, to the right people, at the right time.”
Taking Action Based on Data
Steven Harrison from Vinoshipper discussed their ability to analyze consumers’ reservation behavior. Based on this data, they know younger consumers will make reservations in a shorter time frame or less in advance than older consumers. Therefore, a reservation system and appropriate staffing to accommodate those consumers are important steps for wineries. Another actionable insight was tapping into existing wine club members for referrals. The data has shown that club members were a valuable resource.
Toward the end of the session, Cathy stressed the necessity of having someone within the organization who comprehends the power of data and can spearhead data initiatives. These “data advocates”, ideally part of the executive team, play a crucial role in driving data-driven decision-making at wineries.
Who serves as the data advocate within your winery or organization?
