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1Chemeketa Wine Studies
Presented by:
Ron Scharman
Creating and Budgeting an
Effective Digital Marketing Plan
February 13th, 2016
Wine e-Marketing
Chemeketa Valley
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• Currently CEO Astra Digital Marketing Services and
FlyWithWine.com
• Instructor, SSU Wine Business Institute – 4 Years
• Previously COO of Chatterbox Wine Marketing/VinoVisit.com
• Previously President/Owner of eWinery Solutions(Granbury)
• Previously COO of New Vine Logistics (Now Wine Direct)
• Previously CEO of Morrell Wine Group
• 15 years as a specialty retailer
• MBA Cornell University Johnson School of Management
• Lover of all things food & wine
• Passionate about direct to consumer wine marketing
• More info on LinkedIn at http://bit.ly/2cRRL5C
Who am I and Why am I here?
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Where are We Going Today?
• Overview of Technology Landscape
• Review of Customer Acquisition Channels
• Digital Marketing Planning Checklist/Components of a Digital Marketing Plan
• Pricing Theory in Practice
• Budgeting and Risk/Reward Checklist
• Digital Campaign Metrics
• Cost/Benefit Analysis of Email Acquisition
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Got Wine?
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QUESTION FOR THE SESSION:
How do we sell a 3-dimensional
story in a 2-dimensional world?
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THE TRUTH IS, ITS HARD. VERY HARD….
AND IT TAKES A
GOOD TO GREAT MARKETING PLAN
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Tell your story + tell it well
(the magic 15%)
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“ The notion of connecting a luxury
wine brand with its wider digital and
cultural ecosystem is now a matter
of survival.”
Ron Scharman
Wine Consumer Advocate
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A discipline within marketing that makes use of electronic
devices to engage with audiences, applying technologies like
websites, e-mail, mobile devices, apps and social networks.
Digital Marketing defined.
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The evolution from early 2000’s to present day, “personal computing” has changed 10 fold.
What’s changed? Bigger, More Complex Sites
20032015
2007
2016
Amazon Dash/Echo Dot
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Digital Experiences are Increasingly Important
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Digital Trends For Wineries
Mobile First>50% Mobile
Think Mobile &
WiFi
The Top Mobile
Search/Social
Apps
Key Customer
GroupsMillennials 18-34
Gen X 35-50
Boomers 51-69
12
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Looked at Another Way
The faithful gather in 2005 near St. Peter's to witness Pope John Paul II's body being carried into the Basilica for public viewing.
St. Peter's Basilica at the Vatican, on March 13, 2013
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THE WEB HAS BEEN GROWING FASTER THAN STORES….
*Source: UPS 2016 Annual Survey
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MOBILE COMMERCE SOARS
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MORE PC’S GATHER DUST
*Source: U.S. Commerce Dept., Internet Retailer
44%
11%
45%
Percentage of time on retail web sites
Smartphone
Tablet
PC
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LOOKED AT ANOTHER WAY
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MY PHONE IS MY LIFE
NOT MOBILE-ONLY, BUT MOBILE-FIRST
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People have transformed
how they live, work,
shop, and buy.
Businesses need to
adapt…….
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It’s All About the Customer:
Omni-Channel Marketing
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Omni-Channel Marketing
Transforming the
customer
journey
across all channels
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Remember That the Journey is Non-Linear
Find the customer where they want to be found…
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DTC Engagement: 360 Degree Customer View
eCommerce
Wine Club
Allocations
Tasting Room
Recipe Engine
Social Media (Social Commerce)
Mobile
Telesales (inbound & outbound)
SMS (Text)
Email Marketing
Visitor Reservations
Newsletter
Mobile POS
Search Engine Optimization (SEO)
Retail LocatorWinery
commerce
ecosystem
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Customer Acquisition Channels
• Wine club signup
– Most traditional tasting room business model
• Digital and Social Marketing
• Email Campaigns
• Telesales
• Direct Mail, Catalog
– Can still be effective; can drive ecommerce conversions
• Social media, events, other
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MAYBE………
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THE DIGITAL MARKETING PLANNING
CHECKLIST & THOUGHT PROCESS
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Why Do Digital Experiences Matter?
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HOW TO KICKSTART
YOUR PLANNING
PROCESS
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NOW WHAT.
LET’S TALK ABOUT THE ACTUAL
COMPONENTS OF A DIGITAL
MARKETING PLAN
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WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE 2. STRATEGY 3. TACTICS 4. SCHEDULE
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WHAT MAKES UP A DIGITAL MARKETING PLAN (4 CORE THINGS)
1. OBJECTIVE
2. STRATEGY
3. TACTICS
4. SCHEDULE
(*Why*) The over-arching business problem you
were tasked with solving
(*What*) Your approach, the layer between the
business problem, and how exactly you did it.
(*How*) The means you took to satisfy your
strategy, the actual details of how you executed
(*How Much*) Which partners, for how much, and
how long.
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WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE 2. STRATEGY 3. TACTICS 4. SCHEDULE
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WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE(*Why*) The over-arching business problem
you were tasked with solving
Your objective should be:
• Come from a company-wide KPI
• Clear
• Actionable
• Map directly to a company-wide KPI
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WHAT MAKES UP A DIGITAL MARKETING PLAN
EXAMPLES OF OBJECTIVES:
1. OBJECTIVE(*Why*) The over-arching business problem
you were tasked with solving
Increase the number of website visitors and/or conversions
Increase the # of email addresses we have in our database
Increase visitor traffic/wine club signups at the winery
tasting room
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WHAT MAKES UP A DIGITAL MARKETING PLAN
2. STRATEGY
Your strategies should be:
• Clear
• Actionable
• Map directly to your objective (how are they solving your biz problem?)
• The hardest part of a digital media plan.
(*What*) Your approach, the layer between the
business problem, and how exactly you did it.
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LETS MARRY THEM TOGETHER
Target your demographic audience on the
social networks they visit most with best
selling wines, or other special offers
Encourage new site visitors to redeem an
introductory offer in exchange for their
email address
Drive traffic by promoting off-site tasting
events and community-oriented events,
focusing on Portland Area residents
1. OBJECTIVE 2. STRATEGY
Increase the number of website
visitors/conversions
Increase the # of email addresses
we have in our database
Increase visitor traffic to the
winery tasting room
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5. PRICING 6. COSTING7. PARTNER
SELECTION
WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE 2. STRATEGY 3. TACTICS 4. SCHEDULE
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PRICING
THEORY
IN PRACTICE
WHAT MAKES UP A DIGITAL MARKETING PLAN
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WHAT DOES $1 DO FOR THE DIGITAL MARKETER
TRAFFIC
WEBSITETASTING
ROOMAPP 3-Tier PRINT/WEB
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ONCE TRAFFIC IS IN THE DOOR IT CAN DO MANY THINGS (DIGITALLY-FOCUSED)
BOOK A TASTING
BUY WINE
JOIN A WINE CLUB
POST A REVIEW
DOWNLOAD RECIPES
RE-ENGAGEMENT
SHARES
BROWSE - TIME ON
SITE
VIDEO PLAYS
ENTRIES/VOTES
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5. PRICING 6. COSTING7. PARTNER
SELECTION
WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE 2. STRATEGY 3. TACTICS 4. SCHEDULE
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WHAT MAKES UP A DIGITAL MARKETING PLAN
HOW MUCH
DO THINGS
COST?
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BACKGROUND ON HOW AD PRICING WORKS
CPM
(cost per thousand)
CPC
(cost per click)
Publishers charge you every time:
CPL
(cost per lead)
MOST COMMON
(EARLIEST FORM OF PRICING,
LEAST RISKY FOR PUBLISHER)
INCREASINGLY COMMON
(MORE RISK TAKEN ON BY PUBLISHER)
RAREST
(MOST RISKY FOR PUBLISHER, GENERALLY
WILL OWN THE SIGNUP EXPERIENCE)
Display/WebsitesPaid Search
Paid Social
Lead Gen
companies
(Lead Genius)
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WHAT DOES THE AD PRICING MARKET LOOK LIKE
InexpensiveAverage
Expensive
CPM$1.25 $3.50 $5-$15+
CPC$0.25 $0.50-$0.75 $1.50+
CPL$25 $50 $100+
All these prices completely depend on your site, pricing, and business
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AVERAGE CPC GUIDELINES + OBJECTIVES
Base Additions (each is an incremental cost)
Avg. Untargeted
CPC Gender Age Interest Occupation Education Geo
$0.35 +$0.25 +$0.25 +$0.30 +$0.25 +$0.15 +$0.45
In other words, a fully loaded CPC would be $2.00
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+ OPTIMIZATION
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5. PRICING 6. COSTING7. PARTNER
SELECTION
WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE 2. STRATEGY 3. TACTICS 4. SCHEDULE
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BUDGETING:
HOW MUCH SHOULD I SPEND ON
ADVERTISING?
WHAT MAKES UP A DIGITAL MARKETING PLAN
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KNOWING HOW MUCH YOU ARE WILLING
TO SPEND (WITH WHO)
HAS TO DO WITH
YOUR RISK TOLERANCE.
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?: HOW
RISKY ARE
WE?
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CHECK YOUR SPEEDOMETER:
AGGRESSIVE OR CONSERVATIVE DRIVER?
IDENTIFYING YOUR APPETITE FOR RISK
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AGGRESSIVE
WHEN AN AGGRESSIVE STRATEGY IS RIGHT FOR YOU
ROI
VOLUME
• You are looking to acquire as many new
customers as possible in an effort to
gain traction and grow wine brand
awareness.
• Or you are have fewer metric constraints
(spending our budget is more important
than measuring it!)
• This strategy means being comfortable
with a higher cost per acquisition in
exchange.
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AGGRESSIVE OR CONSERVATIVE?
CONSERVATIVE
ROI
VOLUME
• Looking to maintain the best profit
margin possible,
• You are much more metrics-driven, or
potentially cash-strapped.
• This strategy comfortable with simply
acquiring less new customers.
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Are you comfortable acquiring new users at a loss? (spend $10, make $5)
Are comfortable acquiring new users & breaking even? (spend $10, make $10)
If we break even or lose money now, can we monetize these users in 3,
6, 12 months?
How good were we this month at getting our existing customers to come
back and spend time on our site?
How many new users do you want to acquire, and in what time frame?
HINT: “As many as possible ASAP” is not good enough. Be specific.
YOUR CHECKLIST FOR RISK & COSTING
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5. PRICING 6. COSTING7. PARTNER
SELECTION
WHAT MAKES UP A DIGITAL MARKETING PLAN
1. OBJECTIVE 2. STRATEGY 3. TACTICS 4. SCHEDULE
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FOR YOUR 1ST DIGITAL PLAN, KEEP YOUR PARTNERS SIMPLE
Fee’s
Social Search B2BDisplay
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WHAT ARE THE VEHICLES RELEVANT IN THE
WINE INDUSTRY?
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BEFORE COMPLETING A DIGITAL
MARKETING PLAN YOU HAVE
TO PROJECT WHAT YOUR
EFFORTS WILL DELIVER
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Customer Acquisition
• Wine club signup
– Most traditional tasting room business model
• Digital and Social Marketing
• Email Campaigns
• Telesales
• Direct Mail, Catalog
– Can still be effective; can drive ecommerce conversions
• Social media, events, other
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LET’S SAY YOU RUN A WINERY THAT HAS THE FOLLOWING CRITERIA:
EXAMPLE
WORLD’S GREATEST WINES
Price $100
Goal ROI 200%
Goal New Customers 1,000
Average Conversion
Rate
2.00%
Expected Cost Per Click $1.00
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Winery Digital Metrics
Key Metric Benchmarks Test Campaign
Online Sales 1 100
Avg Online Sale $100 $10,000
Sale Conversion Rate 2% 2%
Visits Required 50 5,000
Cost per Click (CPC) $1 $1
Cost per Sale $50 $5,000
Click thru Rate (CTR) 1% 1%
Impressions Required 5,000 500,000
Cost per Thousand (CPM) $10 $10
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FINAL WORD
ON SOCIAL
MARKETING
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If You Do Not Pay to Advertise on
Facebook, It Is Estimated That You Only
Reach 3-5% of Your Fan BaseForbes.com
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LAST BUT NOT LEAST,
BEFORE DOING ANY ADVERTISING
THINK:
HOW GOOD ARE WE DOING THINGS
NOW BEFORE WE PAY FOR TRAFFIC?
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What is the Conversion Rate, Average Order Value, and Time Spent for:
Our best traffic source
Our worst traffic source (with the most visits)
Our highest traffic source
Do we have appropriate landing pages to make our desired action as simple &
easy as possible
Are we confident that paid traffic is going to help us do more of the desired action
we want
Are we maximizing what we are getting out of our organic/free traffic (existing
partnerships, search, etc.)
YOUR CHECKLIST FOR HOW GOOD WE ARE
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Customer Acquisition
• Wine club signup
– Most traditional tasting room business model
• Digital and Social Marketing
• Email Campaigns
• Telesales
• Direct Mail, Catalog
– Can still be effective; can drive ecommerce conversions
• Social media, events, other
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Email Still Rules
EMAIL MARKETING ROI
According to Exact Target and HubSpot:
• Companies view email marketing as a better return on investment
than PPC, content marketing, social media, offline direct
marketing, affiliate marketing, online display advertising, and
mobile marketing.
• Email Marketing has an ROI of 4,300% (Based on marginal cost).
• 66% of in-house marketers rate email as having “excellent” or
“good” ROI
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How Money is Spent vs. ROI
*Source: Direct Marketing Association 2015
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Please read my blog
from October 2016
http://bit.ly/2fdzyQG
WHAT’S THE VALUE OF AN EMAIL?
HERE’S HOW TO CALCULATE THE $ VALUE
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Loyalty Coefficient
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Winery Email ROI
Key Metric Benchmarks Annual Campaign
2X Emails per Month
Emails Sent 1,000 24,000
Delivery Rate >95%
Emails Delivered(Assume) 1,000 24,000
Open Rate >30%
Opens 300 7,200
Click To Open Rate >20%
Clicks 60 1,440
Conversion Rate >5%
Orders 3 72
1,440 clicks
x 5% conversion
= 72 sales
x $200 avg. sale
= $14,400 sales
= $14.40 per email
annual value
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Let’s Summarize
• Your net revenue for the year equals $14,400/1,000 emails, or
$14.40 per email subscriber.
• Assuming an average 3 year tenure for an email subscriber (LTV),
net revenue jumps to $42.40.
• Discount LTV by weighted average of Loyalty Coefficient.
• Does not include value of email for promoting winery and offsite
tasting events, etc.
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There is a difference between knowing what
stats mean and knowing which stats are
meaningful.
It all comes down to one thing: Does the metric
help you make decisions?
Final Word on Analytics
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Final Thoughts
Things to consider in your DTC marketing strategy:
• What makes you different or your story compelling?
• How do you deliver the message to visitors in person or digital?
• Why should they care?
• What is your plan for building and maintaining customer loyalty?
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Tell your story + tell it well
(the magic 15%)
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Questions?
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Contact Info
Ron Scharman
CEO/Astra Digital Marketing Services
707-681- 5392
Find Me on LinkedIn at http://bit.ly/1WyFHpA