When it comes to incorporating technology into the wine industry, organizations have so many opportunities to apply analytics and technology. However, there is a huge discrepancy in terms of dollars invested towards IT.
Tweet: Understanding wineries’ top 3 IT priorities
A recent WBM Technology Survey by Wine Business Monthly magazine analyzes the top IT priorities for wineries based on various categories such as winery size, job function, and IT job function. Most wineries have the same top IT issue, which is “providing better data to our trade sales team.” Better data can result in gained insights into areas of the business and opportunities to spur company growth. Let’s examine how wineries can better understand their top priorities and implement the technology to support them. (more…)
Did you know that wine and spirits wholesalers in the U.S. account for more than 70,000 jobs? Many of these jobs have been passed down within families, but the times are a-changin’. With consolidation in the industry and advancing technology, there’s no guarantee of employment to be passed down from generation to generation. But for those who want to stay in the family business, it’s important for the next generation to continuously improve their skills to advance their careers.
Tweet: 3 skills tomorrow’s distributor executives need to know
A recent Harvard Business Review article discussed how current family business owners should encourage the next generation to thrive in their companies. How can tomorrow’s distributor executives work to develop their careers within their family businesses? Here are three skills they need to know. (more…)
What is a major challenge for those in the beverage alcohol industry? Navigating the complex 3-tiered system of alcohol regulation. This economic system has been present since post-Prohibition. Although it has been in place for over 100 years, it continues to remain a challenge for suppliers and distributors because of strong competition, industry consolidation, and complex government regulation.
Tweet: How distributors and suppliers can navigate the 3-tier system
For those in the beverage alcohol industry, there are still unanswered questions about the 3-tier system. Why is it still relevant today, and if not, will it continue to remain an industry challenge? How can we work to navigate this complex system? Let’s dive in and discuss. (more…)
It’s the story of every successful company. You have a great product, your customers are loyal, and your sales are at an all-time high. On the outside, things seem to be moving forward and, in some cases, at alarming speeds. It’s as if your company has taken on another identity, one of a self-driving machine. But what happens when the gears move too fast and pieces begin to break? This autonomous vehicle now becomes unmanageable and you begin to lose control. Everything that should be a major asset to your organization is now starting to take you down a different road, one with bumpier roads and signs with fading colors.
Tweet: How to stay on track with price management
To get back on track begins with analyzing your pre-existing business while prospecting future opportunities. Here’s how a price management tool is a turn in the right direction for those who have lost track of their revenue-focused GPS. (more…)
There is a battle brewing that pits producers of craft beer and spirits against distributors and bar owners. Brewers and distillers usually work in partnership with their distributors and retailers, of course. But they also compete against them when they open tasting rooms and sell directly to consumers.
Tweet: Battle brewing over craft beer and spirits distribution
Distributors do not like being cut out of the action, nor do bar owners. So both sides are stepping up their lobbying efforts to influence alcohol beverage laws in many states. Let’s look at some of the factors that are in play. (more…)
Burgeoning challenges naturally follow businesses. The question is, how do companies manage these challenges? Oftentimes, the data will tell us in which direction we should make a decision. Distributors that struggle with gathering their data to make their next move also fail to understand what areas of operation are causing them the most time and harm.
Tweet: 3 obstacles distributors are dodging with analytics
In order to recognize these faults, distributors should lay down a foundation based upon data analysis and forecasting. Companies that do so find they are able to manage their existing business while also predicting new business. What is the secret to success for these companies? Here are three common obstacles that distributors are dodging by having their data do the hard work for them. (more…)
Normally, when I conduct case study interviews, I gather a lot of information on how our customers are using Diver, and then I sort through that information to bring you a cohesive user story. However, I recently visited Allied Beverage at its headquarters in Carlstadt, New Jersey, and when I came home, I found I had almost too much information to comb through – 33 pages of transcript from my interviews! And it was all great info. How was I going to distill it down into a succinct case study?
Tweet: Customer spotlight: Allied Beverage
That’s why in this blog post, I’m going to bring you some of the information and background that didn’t quite make it into the case study. I’m not going to call it the “outtakes” because it’s not that this information was not as useful as the rest. This is all great information on how a company has really gotten the most of its nearly 20 years using Diver. Think of this as Allied Beverage: The Bonus Edition. (more…)
There’s no shortage of data and information. It’s everywhere. But how can you make data useful in order to make better decisions? That’s the hard part.
Tweet: 3 critical metrics for distributors
There are several key metrics that distributors should track in order to improve their businesses. Following are three of these metrics, with examples of reports that Dimensional Insight has developed for our wine and spirits distributors so that they can be easily accessed and analyzed. (more…)
Humans are born curious. We spend our lives building relationships with others, wanting to know what makes our peers act the way that they do, and why they make the choices that they make. Shouldn’t companies be doing the same with their customers?
Tweet: How data and psychology can help you identify consumer preferences
Fully understanding consumer preferences begins with understanding the situations they are in. Will they act with reason? Or will their irrational thoughts overpower their rational mind? While both situations can be identified with analytics, there is more to the consumer than what the data reflects. With different situations impacting their purchase behavior, here are three ways to get a better hold on the consumer’s decision-making process. (more…)
There’s a seemingly infinite number of wine and spirits brands that consumers can choose from, meaning competition is tough for beverage alcohol suppliers. How can brands get a leg up on sales?
Tweet: 3 essential metrics for beverage alcohol suppliers
The smartest companies these days are using data to support decision-making and provide competitive insights. Which areas are most important for suppliers to examine? Here are 3 examples of essential metrics to provide the insights that can power sales. (more…)