Weekly KPIs

1

Doing some research on winery KPIs. What weekly KPIs do you track? And just as important, why do you track them?

2

Brent, as was mentioned in some of the other report and dashboard requests, anything you come up with should be date selectable. We look at things daily, monthly, weekly, annually, etc. With that said, our KPI’s mostly are around customer count metrics. Here are a few we track and it takes us a fair bit of time to get at the data and maintain it in spreadsheets:

of visitors: total, wine club, paid v. non-paid, industry

sales per visitor (bottles and $)
conversion to wine club percentage
additions to mailing list
Sales by channel (web, TR, club, direct)

of transactions

sales of non-wine items
shipping charges
sales quantities by SKU

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3

Main Retail KPIs, which are most unrepresented in Vin65 currently.

Retail
Guests
Wine Club Guests
Tastings
Comp Tastings
Mailing List Sign-Ups
Mailing List Conversion Rate
Wine Club Sign-Ups
Wine Club Conversion Rate
Total Orders
Total Revenue
Total Bottles
Average Order Value
Average Bottles per Order
Average Price per Bottle
Sales Associate by Wine Club Sign-Ups
Sales Associate by Total Revenue

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4

Mark,

Can you explain what each of these KPIs are used for? For example, you list ‘Sales By Channel’ as a KPI you’re looking for. What do you use that KPI for?

5

Ed,

Thanks for the list. Can you elaborate on each of them? i.e. why do you collect tastings as a KPI? What do you do with the data once you have it?

6

Brent,

We budget by sales channel so we are tracking sales in the TR, over the Web, via club, via direct marketing. We tie our employees incentives to our KPI’s so we need to report against them and I want our employees to be able to easily see how they are doing.

7

You can gleam a lot of information from tastings:

  • How many of our guests actually tasted wine. This helps us discern buying couples from raw guests.
  • How many tastings we charged and how many we gave away. We offer many incentives, benefits and thresholds that waive tasting fees, so we like to keep track of that.
  • It helps us audit and reconcile how much wine we’re pouring as samples. If we go through 10 cases in a day, but only do 3 pourings, that’s a problem.
  • We have different types of tasting experiences, so we like to be able to track all the other KPIs per tasting type like AOV, conversion rate, ABP, and so on.
  • It’s probably the best way of quantifying interactions with guests.
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8

@Brent I agree with what Ed said.

9

Do you use this data on a weekly basis? How does it effect each week if you would get this data?

10

All the KPIs I mentioned or just the tasting ones?

11

We report against many of these things daily, then we roll them up and look at monthly stats. As many have stated (I sound like Trump), we need these things to be date selectable. We host all kinds of tastings. Visitors, wine club members, industry, etc. So for example, we don’t expect industry tastings to result in sales, especially if we are hosting distributors, so we want to track those separately and not pollute our stats on conversions, club signups, average sales, etc.

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12

These are very standard things that most every winery does and if they don’t, they are running their businesses wrong. The problem is none of the POS/CRM systems have any concept for these practices, so we all end up hacking in things like $0 products. There almost needs to be a separate product type for things like Guest Count, Tastings, Referrals and so on.

If Vin65 doubled down on their retail tools, I think it would help us better capture quality customers and set them up to be monetized significantly better with some of Vin65’s most developed tools.

13

@EdFarmCollective - At this point, just the ones you find valuable on a weekly basis.

14

@MarkCrapeau - Interesting. You track these daily and roll them up monthly (if I’m understanding that correctly). Once they are rolled up monthly, do you dive into the daily info?

15

We monitor these very closely on a daily basis, then also at the end of each month, quarterly and annually. I think you’ll find most wineries do the exact same thing. These interactions are our DTC lifeblood.

16

What do you do with this info on a daily basis? (I’d assume you’d roll it up into categories (i.e. how are Mondays, how is July, etc.). But on a daily basis, what are you looking for in the data?

17

Yes we look at the dailys to explain variances. Perhaps we had an event on a particular day that generated a lot of extra business. Or in 2015 August had 5 weekends but only 4 weekends in 2016 and it helps to look at what is going on to answer questions.

18

Ok, makes sense. Are there other reasons why you’d look at daily info other than to dive deeper into exceptions/variances?

19

Guests, total revenue, bottles, Wine Club sign-ups are the big four on a daily basis. Combined with some context (what day of the week is it), that’s all you really need to know to determine whether your day was successful or not.

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20

The sooner you see problems, the better chance you have to make up for things. If you are running behind on your visits to the winery, perhaps you do an email blast, get on the phones and call your neighboring wineries, hotels, limo drivers, etc. and remind them to cross refer. We are constantly adjusting our approach to maximize our opportunities.

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