What is a winery dashboard and why should wineries use them?
Three hypothetical wineries are committed to investing to grow their direct to consumer (DTC) sales. Each winery has segmented their target market based on price. In this example, target consumers who spend more than $20.00 per 750ml bottle of wine are considered high spenders. Consumers who
spent $9.00 to $20.00 per bottle were segmented as moderate spenders, and low spending consumers typically spend less than $9.00 per bottle.
Winery A
Winery A targets high spending consumers who are younger (less than 40 years old) and use social media to discuss wine and ask or give recommendations. High spending consumers of this type are interested in a wide range of varietals, which happens to fit the portfolio of Winery A. Winery A learned that this segment of consumer tended to be male, mid to high income and very knowledgeable and involved with wine.
Winery A communicates to its potential DTC consumers through email campaigns and social media and focuses attention on its estate varietal wines at higher price points.
Winery B
Winery B targets moderate spenders, specifically females in their early 40’s. It finds that moderate spenders also use social media, with a tendency to use mobile apps to research wine, so Winery B focuses its marketing outreach taking this into account. Knowing that its strength is a reliable and consistent portfolio year to year, Winery B markets its wines as consistent in style and moderately priced.
Winery C
Winery C targets both high and moderate spenders, not only because it’s portfolio represents a range of moderate to high priced wines, but because it understands that there is very little difference in income levels between the two segments.
Winery C has invested in marketing geared for mobile apps, social media platforms and email to message their target consumers. It carefully tailors messages to each segment: to one it communicates its estate and single vineyard varietal wines at high price points, and to the other the consistent quality and high value of its appellation series.
In each of these hypothetical cases, the winery made an investment to target a specific consumer segment. Each winery decided how to tailor its message or messages, and the medium to communicate it. Each winery’s investment into achieving growth in the DTC sales channel is significant.
Whether you identify with Winery A, B, or C, having a clear picture of your strategy, and importantly your sales performance and ROI received against that strategy, is vital to having a successful DTC sales effort. Monitoring your DTC strategy and ROI through key performance indicators (KPIs), portrayed through dashboards, is your next logical step.
Top 5 Reasons to Dashboard Your Integrated DTC Sales Activity
- Visually align your DTC metrics with the strategic goals of the company.
- Create a “one stop shop” to track and review overall sales performance.
- Capture and communicate the return on investment of your DTC strategy.
- Dashboards pinpoint and provide visual representation of your company’s strengths and challenges.
- Efficiently share simple, key information across the company.
Show Off Your Mad DTC Skills with Awesome Visuals
A great benefit of dashboards is that they easily show you (and your management!) measureable progress that has been made toward the winery’s DTC investment. As DTC revenue and profit grow, you can see the impact on the business using a uniquely tailored dashboard that visually shows the ROI against the marketing and sales activities in which you have invested.
Engage your DTC team by integrating their goals into their performance management and employee engagement objectives. KPIs should an integral part of your DTC initiative, as they help in aligning metrics to the overall company strategy and annual business plan. Revealing progress—or alternatively, areas where more progress should be made—through dashboards will ensure that your time and investment is understood by all levels winery staff and management.
Have you identified your target consumer? Do you have a strategy to capture them? Do you need help in developing the metrics to measure progress against your DTC growth goals? Is it time for you to develop your very own, unique winery Integrated DTC Sales Activity Dashboard?
Questions about how to leverage dashboards and data analytics to grow direct wine sales? Contact: [email protected].