The holidays are quickly approaching and with that, comes a greater opportunity for wineries to reach out to those who have interacted with their brand in order to re-engage customers, retain members, and drive more sales to make the most of the holiday season.
So how can wineries be proactive and apply tactics to their current strategy? Well, when it comes to interactions, customer information, and purchase history - it all starts with the data.
What is Customer Analysis?
Customer Analysis is the data pulled from a company that relates to customers and their purchase order history information. Wineries can leverage this data to better identify, attract, and retain those that are purchasing from their brand. When it comes to the holiday season, wineries can utilize their data to target communications, offer relevant discounts, and drive consumers to make purchases. Let’s dive into how wineries can leverage this data.
RFM Customer Data for Better Targeting
With one single source of truth, wineries can use RFM Analysis to analyze and segment customer data. The ultimate goal of RFM Analysis is to segment customers and categorize them such as best customer, best customer at risk, loyal customers, etc.
When it comes to segmenting customer purchase behaviour, wineries can do so based on 3 different criteria based on RFM:
Recency: The last time they bought wine
Frequency: How often they bought wine in the last two years
Monetary: How much wine they bought in the last two years
Your best customers are the customers who have purchased recently and are among the top and most frequent buyers of wine over the last two years. Your best customers at risk are also among the top and most frequent buyers of wine over the last two years, but they have not purchased recently compared to other buyers over that same timeframe.
When customers are at risk, they are in the process of forgetting about your winery and no longer purchasing. This is important for wineries to understand so they can take action and ensure they remain top buyers of wine.
Sales by Channel to Target Campaigns
It’s important for wineries to understand which channels are more frequently purchased through and which shoppers are doing the purchasing. The more insight into DTC channels and sales breakdown, the easier it becomes to understand where consumers are likely to purchase and when the most recent purchase was, or if they haven’t purchased through a specific channel at all.
In this instance, wineries could segment by sales channel to identify who among their active club members haven’t purchased online and run a targeted campaign with personalized communications and may offer relative discounts to entice them to make that purchase.
Club Members at Risk to Retain Members
When a club member becomes at risk, they are approaching the average tenure in which past members have cancelled their membership. The holiday season is a perfect time to engage at-risk members and entice them to stay. With Customer Analysis, wineries can determine which members may be at risk to churn and run a holiday-specific campaign that will re-engage them. Wineries can offer special pricing/discounts, free shipping, or any other creative incentive that will entice them to stay.
While there are many ways that wineries can leverage data to assist in more sales, increase average order value, and retain members, these tactics are a great place to start. The more detailed customer analysis, the better insight into customer behaviour and the more personalized and targeted communications can be.
Get Detailed Customer Analysis with WinePulse
With WinePulse, wineries have access to detailed Customer Analysis reports so they can easily analyze, segment, and better predict customer purchasing behaviour across time and channel, leverage insights to personalize campaigns and communications, and prevent wine club cancellations. Book a demo to learn more.