Creating Information from Data through Enolytics w/ Jesse Lange & Mark Evans

Sometimes data can be overwhelming.  Being able to transform that data into actionable information can deliver high ROI.  Jesse Lange, Managing Director of Lange Estate Winery, and Mark Evans, President of Triumph Advisors, discuss how Enolytics helps them make strategic decisions through actionable information in every part of their businesses, from DTC and wholesale into operational planning.  Thanks to Enolytics for sponsoring this episode. Detailed Show Notes: Jesse’s background: 2nd generation winegrower in Willamette Valley, focus on winemaking and grape growingMark’s background: helped build Jackson Family’s fine wine division, ran wineries for ~20 years, now fractional CEO for 2 wineries (higher end, DTC focus)Often there’s too much data (facts) and not enough information (which is actionable)Gut instinct not always the best tool, having data is criticalEnolytics having both DTC and wholesale data can be used for production planning, revenue projections, planning market trips, seeing which varietals/SKUs doing well in each regionThe data enables building 10 year revenue projections by channel at the driver level (e-commerce, hospitality, membership, wholesale)Key metrics to look at: membership retention rate, customer lifetime value by acquisition source, purchase velocityDrilling down on wholesale data allows targeting the right marketsMark requires clients to use Enolytics (or another data platform) to partner with themEnolytics helps move from reactive to proactive, e.g. - Mark often converts tasting room staff from part-time to full-time and has them implement outreach programs to at-risk members determined by Enolytics in their downtimeCan be used like a CRM tool, even where Salesforce was unsuccessfulCan see some impact of critic scores through the data, but influence has been waning since ~2005, younger generations not really looking at scoresOne key insight is understanding member referral, correlating customer acquisition data to new club membersEnolytics is high ROI: can often do 2-3 programs that deliver $5-10k/each that micro-targets people and doesn’t overwhelm the customer baseAdvice for other wineries: looking at peer wineries is critical, need to train people on the data tools, and ensuring the data mapping from e-commerce to Enolytics is accurate is essential Hosted on Acast. See acast.com/privacy for more information.