Fine wine 2010 The art and science of selling fine wine
-
Upload
fine-wine-2010 -
Category
Documents
-
view
1.118 -
download
0
description
Transcript of Fine wine 2010 The art and science of selling fine wine
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
Sesión 2
El arte y la ciencia en la venta de vinos de calidad
Session 2
The art and science of selling Fine Wine
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
David ScotlandChairman, Wine Intelligence
Michael Yurch President, Sherry-Lehmann
Ernst Loosen,Owner, Dr. Loosen
Ryan OpazCo-founder, Catavino
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
The Art & Science of Selling Fine Wine
Michael Yurch
Fine Wine Retail in the United States
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 4
The Challenge of Marketing High Quality Products in the Post-Recession Economy
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 5
The Challenge of Marketing High Quality Products in the Post-Recession Economy
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 6
The Challenge of Marketing High Quality Products in the Post-Recession Economy
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 7
The Challenge of Marketing High Quality Products in the Post-Recession Economy
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 8
Global Competition for the Attention of the Wine Consuming Public
We exist in an era of experimentation. Quality Wines are now being made almost everywhere, giving the customer a new found luxury of “gambling” on new wines, but seldom losing.
To address these factors, each region must work hard to distinguish itself from the other.
Emphasis on Unique Factors-Cuisine-Tourism
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 9
All Regional Promotions
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 10
In Store Promotions
All Regional Promotions
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 11
Window Displays
All Regional Promotions
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 12
In Store Tastings
Education: Trade-Wholesale & Retail
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 13
Staff Education at Sherry-Lehmann
Education: Trade-Wholesale & Retail
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 14
Staff Education at Sherry-Lehmann
Education: Consumer Outreach
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 15
Free Wine Tastings
Education: Consumer Outreach
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 16
Consumer Events
All Regional Promotions
Pricing & Value.
The importance of the Press.
Not relying on scores alone.
Not running ahead of the Consumer.
Sticking with the basics...even if it bores you.
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 17
Visit Us!
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 18
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
Muchas Gracias
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
Ernst Loosen
Dr. Loosen
Text in external word document
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
Selling Wine Online
Ryan Opazwww.catavino.net
To sell wine online
Depends where you are and how much creativity you have.
Sometimes the answer is not so obvious
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Truths
Wine is not the same as shoes.
Wine is a drug according to most governments
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
A definition of “ecommerce”
E = Electronic Commerce = selling
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
“Ecommerce” for wine
A map of where to find your wines for sale is “ecommerce”
A phone number on your website is “ecommerce”.
It’s more information than many wineries currently have.
Start small.
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Ecommerce = Brand Building
Selling wine without a brand is simply, dumb
Waiting for someone to create your brand for you is even dumber...
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
The Lottery
27
Truths
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Win vs Lose
Win and you’ll sell out this vintage Lose and you can try again
Losing, ironically, might be healthier for your brand
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
An Example
At a blind tasting last year of 2005 Bordeaux’s all with high “Parker points”, Robert Parker stated at the end of the night that his favorite wine of the tasting was the “Le Gay”
Of all the wines tasted that night, Le Gay was the wine with the lowest Parker points.
source: http://bit.ly/blind2005
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Makes you think
What day will Parker rate your wine?
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
The 1% Dilemma
A 1% increase in spending on making a better wine has no direct correlation with increased sales.
A 1% increase in building a stronger brand can correlate to increased sales and a stronger brand awareness
Let me explain.
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Budgets
Let’s take a mythical winery:
Yearly Budget - 500,000 €1% = 5.000€
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Truth is...
With 5.000€ you can have a very nice website
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Why the web?
How about some true stories?
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
The Journalists
Couldn’t find any information about your winery
Didn’t include the winery in a story as the winery offered no way to contact them
Website wouldn’t let them skip the 2 minute flash intro, or turn off the music at work
Couldn’t copy the text and use it Found no way to download photos So they found some stuff on a 3rd party site
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
The Consumer
Wanted to buy this wine and looked online Looked for what “tempranillo” meant on the
back of your wine bottle Wanted to ask a question Thought they might visit Where do they find more of your wines? Does this go with their steak?
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
To sell wine online...
You first need to be online
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
But the consumer wants more
They want to ask you questions They want to share your stories They want to visit your winery They want to feel like they matter
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Your biggest challenge
To quote a recent speaker Doug Richard, at the online media event: #s4startups,
"your greatest peril is not competition,
it is Invisibility"
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Remember
The web is about community and connections
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
The truth is
You are not online if you are not linked to others
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Where to start?
Where your customers already are...TwitterFacebookGoogleFlickrYoutubeAdegga, Cellartracker, VinfolioTheir Blogs
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Manual Punchdown Sucks
But you do it to make your wine better Social media takes time, but it helps you to
sell more wine.
You don’t have to like it, you just have to do it
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Or not...
For those who want to start, a free tool:http://bit.ly/5freetips
Fine Wine 2010III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
Fine Wine 2010 III Congreso Internacional de la Ribera del Duero
Sesión 2
El arte y la ciencia en la venta de vinos de calidad
Session 2
The art and science of selling Fine Wine