To ensure you’re not navigating the business world blindfolded, it’s imperative to set clear marketing goals – ones focused on driving your company closer towards achieving your overarching business objectives.
Whether you’re looking to launch a new eCommerce platform by Q4 of 2021 or grow your customer base by 15% over the next 6 months, now is a good time to revisit your eCommerce and digital strategies to assess their efficacy.
How are you pacing towards your goals? Are you reaching the right audience? What does your year-over-year revenue growth look like?
Over the past year, many companies were forced to adopt new business models and implement creative strategies to accommodate the unprecedented times.
Silicon Valley Bank’s 2021 State of the Industry report noted, “Despite the unimaginable challenges 2020 posed, we can also admire the year for the way that the wine industry —known for its glacial adaptation to change — took on the obstacles of a worldwide pandemic head-on and found new approaches to sell.”
As we look ahead to a post-pandemic future, how will new trends like online ordering impact your strategy moving forward? And what changes should continue playing a role in your marketing strategy? Here’s a look.
Improved demand from consumers
As we see the hospitality industry open back up and our calendars begging to fill back up with events to attend, demand from consumers will improve.
The wine industry will need to continue to adapt to new and changing sales channels, strategies, tactics and messaging to scale up and meet the post-vaccine demand.
E-commerce and digital strategies
Over the past year, companies were continuously forced to shift gears in order to accommodate new legislation and protocols surrounding public health and safety. While sales increased in certain areas, many businesses saw a massive decrease in others – like restaurants and tasting room revenue.
Despite the myriad of challenges, coronavirus lockdowns did open the doorway for companies to explore new channels. Wineries who fared the best were the ones who embraced the opportunity to diversify their sales strategies via app-based ordering, curbside pickup, home delivery options and virtual offerings.
The industry saw a major increase in the utilization of eCommerce in 2020. Despite the growth, however, only 10% of wineries are taking advantage of it.
The pandemic truly exposed how overreliant wineries are on tasting rooms – which until 2020 were the leading source of club signups.
SVB revealed, “In talking to many owners, we became aware of some wineries that were ahead of the curve with Zoom tastings and eventually were able to incorporate strategies that included signing up new club members. According to Commerce7 reports, by year-end 2020, 27 percent of new club signups originated through digital means.”
Post-pandemic consumer behavioral changes will require businesses to implement (or continue evolving) eCommerce and digital strategies aimed at building brand awareness, loyalty and sales in order to maintain a competitive presence.
The pandemic prompted consumers to find new ways to shop and obtain information. Because of this, forecasters anticipate that investing in e-commerce will be one of the greatest opportunities for wineries moving forward.
Among the strategies expected to continue cutting through digital clutter and driving results? E-mail marketing.
Creating email marketing campaigns and leveraging automation is an effective way to nurture relationships, generate consumer interest and increase conversions.
The key to making an impact? Using segmentation to divvy up your target audience based on things like common interests, demographics and prior purchasing behavior.
By doing so, you can build highly relevant and personalized messages that target consumers through each stage of the customer journey.
From staying top-of-mind and keeping leads engaged to encouraging repeat purchases and referral business, email marketing has proven to be an incredibly powerful channel for driving sales and brand recognition.
Millennials & Gen Z: The Future of Wine Marketing
As the Baby Boomer population declines, it creates a pressing need for wineries to shift their marketing strategies to appeal to a younger audience – especially Millennials and Gen Zers.
Together, these two generations have a combined spending power of nearly $3 Trillion!
First impressions are everything for these two digitally savvy generations. Weave their technology-driven upbringing into their incredibly short attention spans, and you’re left with a short window to make an impact.
But, when done properly, you’ll acquire a new subset of incredibly loyal customers who will greatly bolster incoming revenue. In order to appeal to these younger generations, it’s essential to have a deep understanding of their various needs and interests – including what they define as “value.”
Community and authenticity are incredibly important to younger audiences. Forget mega-influencers. Micro-influencers, real people who embody your company’s values, and user-generated content are what today’s youth is all about. And if wineries want to maintain profitability and a competitive presence, implementing marketing strategies that target these two generations is crucial.
We’re halfway through 2021, and you’re probably continuing to adapt to an ever-changing “new normal”.
What changes have you made to your e-commerce and digital strategies? We’d love to know — Tell us your experience so far in 2021 in the comments below.