“Comunity Benchmark has allowed us to better differentiate growth for Paso Robles and the “true growth” of our brand. Previously, we could not identify if we were really improving in attracting new consumers to our brand. It has also helped us more quickly identify areas in which we need to improve and our missing opportunities to accelerate our growth even further. In a fast-moving marketplace, it has significantly streamlined the process for analyzing all the different metrics we use to assess the health and growth (or lack thereof) of our brand.”
– Joshua, Jada Vineyards
“It’s been valuable comparing specific metrics with other similar wineries such as sales channels. It’s helped us for example to ramp up our outbound call initiatives.”
– Phillippe, Stone Edge Farm
Additionally, we asked some key members what their FAVORITE wine business metric is. I know, it’s like asking which is your favorite child, but we wanted to know! Survey says:
Community % DTC sales by channel. Let me know that our competitors were taking better advantage of a couple of the channels
That is a tough question, but if I was forced to pick one, its’ customer retention. If the customers continue to visit, purchase and interact with you, you are doing it right from start to finish.
Keeping it simple, revenue tells it like it is. Money talks. Digging deeper… For our tasting room, I like to divide revenue by number of visitors to get a “per person” metric vs. an AOV (since most couples will make one purchase vs. two). For our allocation, however, I do like to look at AOV and how that evolves during our tiered release.
Wine Club Attrition Rate: this gives me insight into our club members’ satisfaction with the wines, the story, our winemaking practices, and their experiences in the tasting room, on-line, on the phone and other interactions.
“True growth” metric . . . because it tells me how we are performing not just against our own numbers from last year, but against a range of different types of wineries in Paso Robles . . .average purchase
YTD Net Revenue per Channel. It is a simple and effective way to analyze DTC results by channel over time, and view the interplay between channels. For example…wineries are seeing a drop in tasting room revenue now, yet other channels could be over indexing. This is even more powerful when compared to YAGO as well as a competitive set.
What metric do you gravitate toward?