Sure, Review your Wine Marketing Plan but…
Stay the course! Consistency is more important than consistently conducting Wine Marketing Reviews.
It’s common knowledge with market research companies (monitor consumer’s brand awareness etc) and media planners (those people who recommend ad placements) that consistently advertising the same brand message works best. Each campaign builds on the previous ones.
So keep to your overall plan but keep refining it at the edges (especially with internet marketing testing). I’m guessing it will take at least three years for you to implement all your changes from your first marketing plan. So your review should be of successful implementation of the Marketing Plan not the plan itself (in the short term).
What you’re doing is changing consumers’ minds and this takes time as your target market is slowly exposed to all your marketing activities. Sales activities, like a price discount promotion may lead to immediate measurable volume increases but marketing is implementing a series of well thought through activities. Some of these (web sales) can lead to immediate profit improvement, others (fine dining listings) can take a while to positively affect your sales.
Large wine companies track supermarket data and use regular surveys to measure sales and consumer awareness respectively. As a premium wine brand you won’t really be selling in supermarkets and can’t afford the market research surveys. You will get direct feedback on internet and direct marketing but that’s about it.
However three years after implementing your marketing plan it would be an excellent idea to see whether you’ve managed to hold your price increases, boost your margins through direct sales and generated higher demand through a more attractive brand.
If your profits are still not increasing and you’re happy that discounting or product quality hasn’t held you back then it maybe time to completely review your marketing plan. After three to five years markets do substantially change so it’s worthwhile doing a complete review.
In which case go through the complete process again…