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Wine + Tech: Measuring The ROI Of Digital Media
Aug 25, 2014
(Forbes) - When I set out to explore how wine brands measure ROI on digital media channels, I wanted to illustrate the range of both investment and scale. So I started with what I thought were examples from opposite ends of the spectrum: Constellation Brands (the world’s largest producer and marketer of wine) on the one hand, and Cornerstone Cellars (a small 10,000-case producer in Napa and Oregon) on the other. Though their dollar investments are, in some instances, truly far apart, I also found interesting points of intersection.
Which means that, though this post looks at two very separate case studies, the differences are hardly black and white. I consider this the first in a series of posts on the subject that will explore other strategies and nuances of wine brands’ approach to ROI.
Today we’ll look at three areas of concern: the evolution of ROI in wine, benefits of online outreach for smaller brands in particular, and choosing the right platform to communicate.
How Digital Media ROI Has — and Hasn’t — Evolved
Quantifying ROI, especially when it comes to digital media, is not as slippery or elusive as it used to be. “With the advances in technology today, it’s possible to understand the context of sales,” said Karena Breslin, Vice President of Digital Marketing at Constellation. “It’s been absent from the conversation for a long time and it really doesn’t need to be anymore.”
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