I describe how a hypothetical wine store stops discounting, refocuses on very profitable customers, by sharing the store owner’s passion for wine. The store starts with 1467 customers, it drops 259 customers and turns a financial loss of -$46,374 into a profit of $214,354.
However its revenue increases by $300,000. You can see the wine retail store financial spreadsheet that I use in the book here.
My imaganiery store owner has had a larger discounter open up next door. He has tried to match the prices but has quickly found himself in a hopeless financial position. This book follows him as he creates a business plan and an internet oriented marketing strategy to refocus on the most profitable customers.
The key word and the key theme of the book is ‘refocus’. The retailer goes back to his most profitable customers, customers who also share his passion for wine, and are willing to buy lots of high margin wines. The customers who were shopping at the store for discount reasons only, shop elsewhere. Let someone else cater their price oriented needs, this store caters to high value wine enthusiasts.
This store shares its passion for wine with wine passionate customers. This store stocks a wide range of artisan wines, not the limited range of sub standard plonk that a supermarket stocks. This store can be experienced online, because that’s where it’s best customers are most of the time.
This Book starts with the Wine Customers
I use the Project Genome wine drinker segmentation extensively in the book but I also look at an academic study, my own research and some social media research.
It then covers the competitors online and offline. Again I use various types of internet research to show how you can do this yourself.
An extensive analysis of the local wine retailer market opportunity comes next. The illustrative wine retailer is described including downloadable spreadsheets and a marketing plan (note you can use these for your whole retail business not just the internet marketing part). In essense he focuses on a niche market, a market that discounters, liquor chains and supermarkets struggle to compete in.
How to measure internet success is the last chapter in Part I. In particular the use of Google Analytics and its new assisted conversion report. I also go over the issue of multiple attribution (which this sounds boring but is essential to understand!). Each of the internet marketing chapters finishes with a section on how to measure it’s success, and how the illustrative wine retailer is doing versus these his marketing plan.
Part II- Traffic, looks at SEO, local SEO (yes I think it is so important I split it out), Advertising, and Comparison Shopping Engines. Some SEO fiends will find my thoughts on duplicate content and siloing controversial, I welcome you to explain your own views in the forums (more of about the forums below).
Part III – Engagement, has chapters on Social Media Objectives, Blogging, Facebook, Twitter, Mobile Apps, and Location Based Services. Once again I have a special section on Local Social Media. The reason I keep splitting out ‘Local’ is that I think wine retailers have a real advantage in being local.
Part IV – Conversion, covers how to choose an eCommerce provider and what features to expect from your wine eCommerce website. Mobile and Social (Facebook) eCommerce follows and finishes with Landing Page Optimization.
Part V – Repeat, covers Email Marketing and admits that all the other internet marketing strategies also help with repeat custom. Lastly there is a Conclusion.
Out of Date?
Yes, parts of this book went out of date as I was writing it. For example Facebook Deals got ditched and a new study on Local SEO made me completely revise this chapter. Every technology related book has the inherent disadvantage of capturing only a point in technology time.
With this in mind I’ve completely opened up my website to all comers to discuss the various internet marketing topics – see the Wine Internet Marketing Forums. I’ll also post revisions to chapters as time goes by to keep the book up to date digitally if not physically. If you see something that is out of date and has not been updated by myself, please post your feedback on the forums and I’ll write an update post.
Where to buy it
It can be purchased directly (as at 3 November 2011, it ships from the South Carolina), Amazon from sometime between 7 November and 15 November 2011, and other book stores in January 2012. A kindle version is likely to be published in the next two months.
Table of Contents
Here are the Table of Contents: HowToSellWineOnlineTableOfContents
I’d love feedback – negative and postitive. Feel free to write that below, in the relevant forum, or as an Amazon review.