What if I told you I can give you a formula to generate any ecommerce number you want to target this year? Would you want that formula? Hell yeah you would!
Great news, I’ve got that formula and it boils down to ONE ACTIVITY.
Keep reading, because we’re giving you the formula and showing you how just one activity could help you hit half a million dollars or more in additional ecommerce revenue this year.
The secret is right here:
If you want to grow your winery’s ecommerce, you need to grow your winery’s email list.
It’s the #1 thing you can do to boost your online revenue, and best of all, there is some LOW HANGING FRUIT for nearly every winery.
In fact, according to the most recent WISE Academy Triple Score data, only 24% of tasting room staff are asking for contact data in their interactions with customers. That means that only 1 in 4 of your visitors can be invited back to buy more from you online, get invitations to your events, be nurtured into your wine club… AHHH you get the point, this isn’t good.
But what if you could double that number? What if you asked for email addresses from HALF of your visitors? Let’s talk about the revenue opportunities that qualified email list growth might hold for your winery.
In Q4 of 2023, our average client-per-recipient value of email campaigns was $1.70.
Let’s extrapolate that out over a year. If your winery per recipient value is $1.70 and you send emails 1 time per month, every new email address is worth $20.40 to your winery in their first year.
If you email weekly, that number grows to $88.40
So, adding 1000 subscribers to your email list could generate $88,400 in additional e-commerce revenue.
Adding 5000 subscribers – $442,000
And if you’re like, ‘that’s not my winery’s subscribers’ or ‘that could never work for me’ take the data from Commerce7…
“The Data That’s Changing Winery DTC” 2022 Data Book
💳 24% eventually place online orders
When you successfully collect a customer’s email in the tasting room, nearly a quarter of them go on to place online orders.
🍷 14% sign up for a wine club
Not only do they make online purchases, but 14% of these customers also sign up for a wine club down the road.
What is an email address worth to YOUR winery?
If you’re using Klaviyo, you can actually see per recipient value in your dashboard. If you’re not, you can still take your e-commerce revenue attributed to email and divide it by the total volume of emails sent to get your per recipient value.
Make a note of that number and then do the equation I shared with you.
Per recipient value X # of email campaigns sent per year = Value of email / year
You can use this number to reverse engineer your ecommerce growth targets directly to email list growth if you want! You want Half a million more in ecommerce? Divide it by your per recipient value per year to get your number.
HINT: It’s 5656.1086 in the scenario above 🙂
This could be the only motivation you need to start putting some real muscle behind your email list growth efforts. But maybe part of the reason you aren’t getting more email opt-ins is because you don’t really know how to ask. Good news friends! In next week’s video and blog post, I’m going to share exactly what your customers want to get in their inboxes from your winery, and walk you through a simple but powerful exercise to make sure you are growing your email list with the right subscribers.
Make sure you subscribe to our channel and ring the bell to be notified when that episode is live, because this is where the rubber meets the road!
