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Cork’d : Building a Social Network for Wine LoversAdvanced Social Media Marketing : NYU SCPS<br />Cork’d Case Study <br />...
Cork’d : Building a Social Network for Wine LoversBackground / Situation<br />Feb 06 – Cork’d is launch’d<br />Ad-based bu...
Cork’d : Building a Social Network for Wine LoversBackground / Situation<br />May 09 – Along came Lindsay<br />As CEO, hir...
Cork’d : Building a Social Network for Wine Lovers Challenges<br />Cork’d was lagging other Social Wine Sites in Online Me...
Cork’d : Building a Social Network for Wine Lovers Steps Taken / A broad PR and social media campaign <br />Twitter – Gary...
Cork’d : Building a Social Network for Wine Lovers Findings / Results<br />Note: “User stickiness” measures the percent of...
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Cork'd case study

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Case study for Advanced Social Media class at NYU

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Cork'd case study

  1. 1. Cork’d : Building a Social Network for Wine LoversAdvanced Social Media Marketing : NYU SCPS<br />Cork’d Case Study <br />Jonathan JosephAdvanced Social Media Marketing<br />#advsmnyu<br />1<br />
  2. 2. Cork’d : Building a Social Network for Wine LoversBackground / Situation<br />Feb 06 – Cork’d is launch’d<br />Ad-based business model<br />Relationship with wines.com<br />User generated content<br />May 07 – Sold to Gary Vaynerchuk<br />Founder of Wine Library, and parallel business ventures such as Wine Library TV<br />2<br />
  3. 3. Cork’d : Building a Social Network for Wine LoversBackground / Situation<br />May 09 – Along came Lindsay<br />As CEO, hired development resources, addressed duplicate wine listings and reinvented the Cork’d website making it ad-free<br />The new site accommodated two types of users:<br />Individuals<br />Users could upload profiles, interactwith other users and choose “drinkingbuddies”. <br />They could review and rate wines, maintain a “wine cellar”, create wine shopping lists and engage with wineries. <br />To purchase wine, users were directed to an external, third-party site, and Cork’d received commissions for outbound clicks.<br />Wineries<br />Wineries could maintain profile pages where they could post information, provide links to their websites and maintain direct-to-consumer relationships. <br />All for an annual fee of $999<br />3<br />
  4. 4. Cork’d : Building a Social Network for Wine Lovers Challenges<br />Cork’d was lagging other Social Wine Sites in Online MetricsCompetitors such as Snooth.com and Cellartracker.com were consistently leading in online traffic comparisons (registered users and time spent)<br />Source: AlexaJan 2008 – Jan 2010 User Trends<br />Threats from Alternate Business ModelsFocused on the shopping experience, allowing users to compare prices across merchants. <br /> Focused on inventory management, with integrated professional wine reviews with personal inventory and premium service offering automatic inventory valuation<br />Limited online engagement from wineries Winery sign ups were a result of direct interaction with Lindsay and Gary, rather than from the profile verification process on the Cork’d website<br />4<br />
  5. 5. Cork’d : Building a Social Network for Wine Lovers Steps Taken / A broad PR and social media campaign <br />Twitter – Gary posted regular links to reach out to new users and directed many of his followers to the site. For users unfamiliar with Gary, Cork’d interns would search for wine-related tweets, and find and engage users and encourage them to add their commentary to the Cork’d site. <br />Twitter led to about 200 fresh Cork’d user signups each day. <br />Pre-launch party – Cork’d hosted a wine-tasting party inviting loyal Cork’d users and supporters who sampled wines while receiving demos of the new and improved site and spread word by tweeting, posting Facebook updates, and blogging<br />Existing Users – Reached out to users from the old, stagnant Cork’d to let them know the site was active again<br /> Wine Library TV – After each tasting episode, Gary would provide viewers with a direct link to Cork’d so they could post a review of the wine that Gary had just discussed<br />Guest Content – Guest writers would create content that would be available on Cork’d with the content licensed to other websites, generating traffic (and potentially new users) back to the site<br />Mobile – Made plans to release a mobile application for users to read, rate, and review wines<br /> Cork’d Website – Provided incentives for new users such as a “newbie badge” for uploading a picture to the site and posting a minimum number of reviews. Contests with users with the most reviews winning trips to New York to a wine tasting party with Gary and the Cork’d team. <br />5<br />
  6. 6. Cork’d : Building a Social Network for Wine Lovers Findings / Results<br />Note: “User stickiness” measures the percent of unique registered visitors who visited the site during the previous month that also visited the site in the current month.<br />The campaign saw moderate signs of success with posted content and new user signups<br />Business model focused on user generated content may have limited success compared to Snooth (focused on shopping) and CellarTracker (focused on inventory management)<br />Appears as though efforts to recruit wineries was not essential to developing a community<br />Active recruiting of wineries before developing an active user base may have lead to winery frustration and ultimately a lack of traction for the site<br />6<br />

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