Fine wine 2010 The art and science of selling fine wine
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Fine wine 2010 The art and science of selling fine wine

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Fine Wine 2010, Ryan Opaz (Catavino.net), Michael Yurch (Sherry Lehmann), Ernst Loosen and David Scotland (WIne Intelligence)

Fine Wine 2010, Ryan Opaz (Catavino.net), Michael Yurch (Sherry Lehmann), Ernst Loosen and David Scotland (WIne Intelligence)

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Fine wine 2010 The art and science of selling fine wine Fine wine 2010 The art and science of selling fine wine Presentation Transcript

  • Sesión 2 El arte y la ciencia en la venta de vinos de calidad Session 2 The art and science of selling Fine Wine
  • David Scotland Chairman, Wine Intelligence Michael Yurch President, Sherry-Lehmann Ernst Loosen, Owner, Dr. Loosen Ryan Opaz Co-founder, Catavino
  • The Art & Science of Selling Fine Wine Michael Yurch
  • Fine Wine Retail in the United States Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • The Challenge of Marketing High Quality Products in the Post-Recession Economy Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • The Challenge of Marketing High Quality Products in the Post-Recession Economy Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • The Challenge of Marketing High Quality Products in the Post-Recession Economy Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • The Challenge of Marketing High Quality Products in the Post-Recession Economy Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • All Regional Promotions Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 In Store Promotions
  • All Regional Promotions Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 Window Displays
  • All Regional Promotions Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 In Store Tastings
  • Education: Trade-Wholesale & Retail Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 Staff Education at Sherry-Lehmann
  • Education: Trade-Wholesale & Retail Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 Staff Education at Sherry-Lehmann
  • Education: Consumer Outreach Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 Free Wine Tastings
  • Education: Consumer Outreach Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • Visit Us! Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • 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 Opaz www.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 2010 III 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • A definition of “ecommerce”
    • E = Electronic
    • Commerce = selling
    Fine Wine 2010 III 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 2010 III 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • The Lottery Fine Wine 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • Truths Fine Wine 2010 III 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 2010 III 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 2010 III 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 2010 III 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 2010 III 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 2010 III 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • Why the web?
    • How about some true stories?
    Fine Wine 2010 III 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 2010 III 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 2010 III 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 2010 III 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 2010 III 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • Remember
    • The web is about community and connections
    Fine Wine 2010 III 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • Where to start?
    • Where your customers already are...
    • Twitter
    • Facebook
    • Google
    • Flickr
    • Youtube
    • Adegga, Cellartracker, Vinfolio
    • Their Blogs
    Fine Wine 2010 III 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 2010 III 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 2010 III Congreso Internacional de la Ribera del Duero, 28 al 30 de abril 2010
  • Sesión 2 El arte y la ciencia en la venta de vinos de calidad Session 2 The art and science of selling Fine Wine