#wbis - session 2 presentation - different approaches to online wine sales by finkus bripp
DESCRIPTION
During this presentation, Finkus Bripp communicated the business practices he uses in running the WINE ON THE ROCKS SHOP, gave a brief YEAR I overview and plans for YEAR II. The #WBIS (WINE BUSINESS INNOVATION SUMMIT) aims to promote new and innovative approaches to growth and communication in the wine industry. The first edition of #WBIS was held on Saturday, January 19, 2013 in Brussels. By creating a forum for wine professionals, bloggers, social media whizzes and business experts, #WBIS encourages innovation, disruptive thinking and the use of new technologies in the wine world.TRANSCRIPT
PRESENTED BY
ONLINE WINE SALES DIFFERENT APPROACHES
PRESENTATION OVERVIEW
THE PRESENTATION WILL BE COVERING THE ABOVE TOPICS
1 ABOUT
WOTR
2 YEAR 1 REVIEW
3
YEAR 2 PLAN
4
KEY PRACTICES
ONLINE WINE SALES
PRESENTED BY FINKUS BRIPP
1
ABOUT WINE ON THE ROCKS
ONLINE WINE SALES
WWW.WINEONTHEROCKS.COM
ONLINE WINE SALES
WINE ON THE ROCKS
ONLINE WINE SHOP - GERMANY
-‐ Launched in December 2011 -‐ ConcentraDng on B-‐Side wines (imporDng wines not available in German market) -‐ Wine selecDon from distributors who cater to restaurants -‐ No price dumping -‐ No use of wine criDc points -‐ Urban design -‐ External logisDcs partner -‐ Promo methods: NewsleRer markeDng, word of mouth and offline events
ONLINE WINE SALES
PRESENTED BY FINKUS BRIPP
2
Year one in review
YEAR ONE IN REVIEW ONLINE WINE SALES
BREAK-EVEN PARTNER INTEREST FINKUS COLLECTION
The break-‐even point was reached within the first year and this was done with a € 0 adverDsing budget.
Though the Wine On The Rocks Shop is a small online wine merchant, interest to be listed by producers and established importers was very high.
The first Finkus CollecDon was launched in June 2012 – two red Douro blends named Lolita & MILF made in co-‐op with Quinta do Popa – and sold out in less than three months. They were only sold in the WOTR shop and in the Dudes Factory in Berlin… an urban art gallery!
ONLINE WINE SALES
PRESENTED BY FINKUS BRIPP
3
Year TWO PLAN
YEAR TWO PLAN ONLINE WINE SALES
OFFLINE TASTING ROOM PARTNERING FINKUS COLLECTION EXPANSION
In order to make the WOTR brand more “tangible”, the WOTR TasDng Room was opened in Munich in December 2012. MeeDng the consumers personally helps, guaging drinking & purchasing habits via direct feedback and helps brand building.
Due to the posiDve feedback and interest on the part of producers and importers, WOTR will begin offering promoDonal space on the pladorm to partners who share the same philosophy.
The Finkus CollecDon Douro wines are being distributed internaDonally (400% growth) and the 2nd CollecDon: Missy & Mrs Greenjeans, whites from Kamptal, Austria in co-‐op with Fred Loimer, will be launched in April 2013.
YEAR TWO PLAN ONLINE WINE SALES
TASTING KITS CONSUMER EVENT CONSUMER’S CHOICE
WOTR will be concentraDng very much on wine educaDon and launching a variety of tasDng kits accompanied by a custom wine tasDng system and video series.
A large consumer tasDng & sales event in Munich is being planned for the end of 2013.
In conjuncDon with tasDng events in the WOTR TasDng Room, consumers will be invited to taste and rate wines which will then be listed in the shop.
ONLINE WINE SALES
PRESENTED BY FINKUS BRIPP
4
KEY PRACTICES
KEY PRACTICES ONLINE WINE SALES
BRAND BUILDING PHILOSOPHY QUALITY
In order to build consumer trust, it’s imperaDve that a clear and concise message be communicated. If you share the same core values as your customers, you won’t have to take part in the price war.
CompeDDon in the wine world has never been higher and with so many companies selling wine, it’s important to concentrate on the WHY rather than the WHAT. Philosophy is a strong branding tool.
As an independent wine merchant, WOTR prides itself on offering quality products at a fair price, even at the mid to high-‐end. We cater to the niche and not to the masses.
KEY PRACTICES ONLINE WINE SALES
EXPERIMENT DON’T SWIM WITH SHARKS PUSH THE ENVELOPE
When it comes to the way you communicate, display products, offer rebates etc., don’t be afraid to experiment. This gives you insight in to how clients react to various methods and with Dme, helps you be more efficient in raising conversion rates.
As a 100% independent wine merchant, it’s not suggested you start off by swimming with the sharks in your market. Instead, concentrate on carving out your own niche by swimming in sDller waters before moving into rougher waters.
Don’t be afraid to try something new and what may be perceived as “going too far”. For anyone looking to do something new in the wine world, there’s never been a beRer Dme… the rewards are definitely there.
ONLINE WINE SALES
KEEP ON KEEPIN’ ON!
FOR YOUR ATTENTION
THANK YOU
STAY IN TOUCH
FACEBOOK WWW.FACEBOOK.COM/WINEONTHEROCKS
TWITTER WWW.TWITTER.COM/WINEONTHEROCKS
VIMEO WWW.VIMEO.COM/WINEONTHEROCKS
FINKUS BRIPP WWW.CREATIVE-WORX-MEDIA.COM
WINE ON THE ROCKS TV WWW.WINEONTHEROCKS.TV
WINE ON THE ROCKS SHOP WWW.WINEONTHEROCKS.COM
EMAIL: INFO@CREATIVE-‐WORX-‐MEDIA.COM -‐ FON: +49.89.4209 544 770 WINE ON THE ROCKS c/o THE FINK TANK – LINDWURMSTR. 135 INNENHOF – D-‐80337 MUNICH