Today let's talk for a moment about your competition.
Who they are, and how you know who they are.
First, the who.
Who are the wines in your competitive set?
Maybe they are the wines that are in the same price bracket as yours, or maybe they are the same varietal. Maybe, historically, they’ve simply always been your competitors. Maybe they are the wines that Amazon said people “also liked,” or maybe they’re the neighbors within your same AVA. Or maybe you define them another way.
The point is that there are different ways to identify your competition, and different information available to help.
Which brings us to the how. How do you know what your competitive set of wines are?
Maybe it’s internal research, or industry reports, or anecdotes, or gut instinct. Those are some of the strategies that have formed the foundation on which countless decisions within the industry have traditionally been based, including how to define yourself against your competitive set.
But here’s my point: there’s another source of information that identifies your competitive set of wines, and that’s the voice of consumers.
You’ve got a good idea of your competitive set of wines, but what do consumers think are your competitive set of wines?
If you don’t know, you’re missing a critical voice.
A healthy portion of our work at Enolytics is to tap into research about competitive set wines from our third party data partners. They tell us how consumers behave, digitally, around your wines and around the wines they’re looking at when they’re also looking at yours.
We’re seeing that for brands, those are two different sets of wines: your list of competitors and the consumer’s list. They are not the same, and it seems to come as a surprise.
Which list do you want your sales and marketing team to focus on?
We can help you tune in.
I’d be glad to talk with you about it. Call (+1.702.528.3717) or email (firstname.lastname@example.org) anytime.
And thank you, as always, for reading –