26 Lessons Learned AFTER 26 YEARS IN THIS

26 Lessons Learned (AFTER 26 YEARS IN THIS CRAZY BUSINESS)

26 years of: Operating: Vinesse Wines – wine clubs and direct to consumer (DTC) retail AND virtual winery Pack n Ship Direct – third party logistics, DTC shipping Sonoma Estate Vintners – wine manufacturing Clubs other than wine Winery operations in France and U. S. Fine wine retail in California More mistakes than you can count!

My Presentation has Three Parts: Marketing People Other Learning

Marketing

1. A. B. T. (Always Be Testing)

2. In the U. S. , pick a tier and stay in your lane.

3. The U. S. wine market isn’t one.

4. We really don’t know our customers.

5. Greed is the most powerful purchase motivator…access/ privilege are a close second.

6. The Wisdom of Crowds. Ask your customers for their opinions, ask your staff too.

7. Continuity and subscription “schemes” are tough to beat.

8. There is “dynamic tension” between offer and CLTV. (Marketing efficiency begins with CPA but it doesn’t end there. )

9. We tend to focus too much on prospecting and not enough on retention.

10. WE tend to focus too much on prospecting and not enough on cross-selling and upselling.

11. Poorly done communications still communicates. (You can’t not communicate. )

12. We direct marketers don’t think about our brands enough.

13. Unhappy customers – or unconverted prospects - will lead you to new opportunities just as surely as happy customers will.

14. Paper and ink (and post)still aren’t dead.

15. Steal smart.

16. Treat R&D almost as a separate business, with its own investment and people.

17. Good selling feels like great customer service.

18. Creative is too important to fully entrust to creatives.

People

19. When it comes to finding and managing your “human capital” always be: Hiring Lean Measuring (MARs+KPIs) Aligned Challenging Mindful of culture, and fit Ready to purge

20. The best talent won’t be found in ad agencies.

21. Sometimes 1 = 3 X

22. Wine curation is too important to be left to wine buyers (and winemakers).

Other Learning

23. When it comes to wine (and marketing) none of us are very adept at picking winners.

24. Recessions are good.

25. Three businesses I never want to be in again: traditional retail, traditional wineries* and growing wine grapes* *well, maybe a good DTC winery and growing grapes

“The way to make a small fortune in the wine business is to start with a large one” hence:

26. Understand that we are not in the wine business, we are in the business of wine.

Lucky us!