Listen in the Podli app 🎧
Follow your favourite podcasts, listen offline and in the car with CarPlay and Android Auto, and always pick up where you left off. Free to try.
Sometimes data can be overwhelming. Being able to transform that data into actionable information can deliver high ROI. Jesse Lange, Managing Director of Lange Estate Winery, and Mark Evans, President of Triumph Advisors, discuss how Enolytics helps them make strategic decisions through actionable information in every part of their businesses, from DTC and wholesale into operational planning. Thanks to Enolytics for sponsoring this episode.
Detailed Show Notes:
- Jesse’s background: 2nd generation winegrower in Willamette Valley, focus on winemaking and grape growing
- Mark’s background: helped build Jackson Family’s fine wine division, ran wineries for ~20 years, now fractional CEO for 2 wineries (higher end, DTC focus)
- Often there’s too much data (facts) and not enough information (which is actionable)
- Gut instinct not always the best tool, having data is critical
- Enolytics having both DTC and wholesale data can be used for production planning, revenue projections, planning market trips, seeing which varietals/SKUs doing well in each region
- The data enables building 10 year revenue projections by channel at the driver level (e-commerce, hospitality, membership, wholesale)
- Key metrics to look at: membership retention rate, customer lifetime value by acquisition source, purchase velocity
- Drilling down on wholesale data allows targeting the right markets
- Mark requires clients to use Enolytics (or another data platform) to partner with them
- Enolytics helps move from reactive to proactive, e.g. - Mark often converts tasting room staff from part-time to full-time and has them implement outreach programs to at-risk members determined by Enolytics in their downtime
- Can be used like a CRM tool, even where Salesforce was unsuccessful
- Can see some impact of critic scores through the data, but influence has been waning since ~2005, younger generations not really looking at scores
- One key insight is understanding member referral, correlating customer acquisition data to new club members
- Enolytics is high ROI: can often do 2-3 programs that deliver $5-10k/each that micro-targets people and doesn’t overwhelm the customer base
- Advice for other wineries: looking at peer wineries is critical, need to train people on the data tools, and ensuring the data mapping from e-commerce to Enolytics is accurate is essential
Hosted on Acast. See acast.com/privacy for more information.
