Earlier today, our friends at Vin65, a subsidiary of Wine Direct and VinTank, two companies at the forefront of digital strategy and commerce in the wine industry, announced a partnership. The aim is to integrate their respective technologies to help wineries better understand the relationship between eCommerce transactions and social media activity.
Monitoring the value of social media marketing and its relationship with what transactions come through the shopping cart is a significant challenge for any industry. That said, this partnership sounds like it will provide the tools for wineries to do analysis and gain insights that before were murky at best.
We're very excited for Vin65 and VinTank (and the wineries), and we look forward to what general marketing insights this may yield!
The Full Release:
NAPA, CA and ABBOTSFORD, BC-- Vin65, a subsidiary of WineDirect, and VinTank, two of the wine industry's leading innovators, have formed an exclusive partnership which connects wine industry social media data directly to customer ecommerce records. Through this partnership, the two companies have created a bi-directional integration which merges social interactions (or social customers) with the records of commerce customers. This means that Social Media managers can now understand the lifetime value of the people they're interacting with, and ecommerce managers will have access to a 360 degree view of their customers including all social posts of your brand.
While CRM tools provide wineries with the means for collecting and managing traditional customer ecommerce data, the ability to supplement with social data provides a strategy for customer engagement where increased sales and lifetime values are a by-product. According to Bain and Company, customers who engage with companies over social media spend 20% to 40% more money with those companies than other customers.
The two companies place a heavy focus on helping wineries sell more wine Direct-to-Consumer. With Vin65, that commitment takes the form of a market leading ecommerce platform. With VinTank, it's via a cutting edge social media management solution for wineries. By merging crucial data from the two companies, wineries will enjoy a competitive edge, not only in revenue generation but also in managing important customer relationships.
Features and Benefits for Wineries
When monitoring a social media conversation of a customer, you will understand that customer's commerce value with a view into statistics such as customer lifetime value, last order date, club memberships, and ecommerce segments. Wineries can drill down to this important information without ever leaving VinTank’s platform.
When viewing a particular Vin65 customer segment from within the VinTank admin panel (club members for example), you will see all relevant social interactions for that segment.
VinTank offers the ability to build Twitter Lists of club members or any other Vin65 Contact Types.
The Vin65 Platform shows the most recent social media interactions for your winery in conjunction with sales and other ecommerce information.
In the CRM tool, wineries can view a customer’s social interactions from Twitter, Instagram, Facebook, and Foursquare in one easy-to-view feed.
Vin65 offers the ability to create actionable lists to segment customers in both social and ecommerce segments.
Andrew Kamphuis, President of Vin65, had this to say: "I’ve known Paul at VinTank for a long time and we are very excited about this partnership. The ability for our customers to relate social comments to ecommerce transactions is a step forward for monitoring the ROI of social.“
“When I look at what the future of commerce will be for the wine industry, I see Vin65 leading the way through their culture of helping wineries focus on their customers. By coupling social media to their customer interactions we can enhance that vision like never before seen in any industry,” added Paul Mabray, CEO of VinTank.
The integration is available immediately in beta to Vin65 or WineDirect customers who request it. It will be widely available for all Vin65 and WineDirect customers on July 31<sup>st</sup>. More importantly, it is being made available at no cost. Vin65 has paid a licensing fee for the professional version of VinTank for every winery on its platform (a value of $1,800 per year).