Algorithm Recommends Optimal Target Markets for Wine Producers
VANCOUVER, BC – March 24, 2021 – Quini® (www.quiniwine.com) today announced the release of an upgrade to the company’s QUINI DATA™ wine consumer sensory data and analytics platform for wine producers. The system leverages Quini’s proprietary consumer wine tasting and rating data and algorithm to calculate and publish NPS® (Net Promoter Score) results.
Instant view of NPS within the QUINI DATA analytics interface is designed to help wine marketers to instantly identify and prioritize optimal target audiences and geographic markets for a wine product, based on consumer loyalty indications captured using Quini.
The underlying recommendation engine also automatically suggests ideal geographic and demographic targets for a particular wine, based on a combination of consumer loyalty indicators, drinker age categories and taster location, down to a city level.
“Integrating NPS into QUINI DATA augments our client ability to support decisions, better direct resources and reduce risk,” said Roger Noujeim, Quini’s CEO. “We are seeing more wine producers and their wine making teams looking to use consumer sensory data more upstream in their process to uncover best paths and pre-empt issues.”
The new algorithm simultaneously identifies detractors. Audiences that are more likely to negatively impact the brand and business. Alerting wineries early to potential risk gives the executive suite an opportunity to re-examine decisions and steer away from unnecessary, costly pitfalls.
“The growing interest in consumer sensory data to support decisions early in a wine product’s journey is a significant leap for an industry known as being market driving rather than market driven,” added Noujeim.
“Averting a commercial miss is a critical goal every winery must pro-actively pursue. It can mean saving tens or hundreds of thousands of dollars in potential loss for a winery. Even up to a million dollars or more for the largest wine producers,” concluded Noujeim.
A side by side competitive benchmark of NPS scores can also be used by marketing teams to enhance product sheets with real, third party verified consumer data to better support sales teams and objectives on the road.
Access to NPS is now open to all QUINI DATA Gold annual subscribers, at no added charge.
QUINI DATA encompasses multiple complimentary analytics dashboard clusters to support the various business functions in a winery. This includes marketing, business intelligence, wine making and innovation teams, consumer insight managers, direct to consumer (DTC) and wine club groups.
Net Promoter or Net Promoter Score (NPS) is the percentage of customers rating their likelihood to recommend a company, a product, or a service to a friend or colleague as 9 or 10 (“Promoters”) minus the percentage rating this at 6 or below (“Detractors”) on a scale from 0 to 10. Respondents who provide a score of 7 or 8 are referred to as “Passives” and do indeed enter into the overall percentage calculation. NPS is a management tool used as a measure of customer loyalty and has been shown to correlate with revenue growth relative to competitors. NPS has been widely adopted by Fortune 500 companies and other organizations.
By Quini TeamJanuary 14, 2021Comments Off on How Wineries Can Use Consumer Sensory Feedback To Accelerate Business
The wine industry, as we’ve always known it, has changed. Whether forever or not, time will tell. Focus on the online consumer has grown by leaps and is unlikely to change.
Younger generations are digitally hardwired and represent the future of the wine industry. Doing more to understand what they want and how to service them in ways they appreciate, has become critical to a winery’s livelihood.
To gain this understanding, wineries are increasingly adopting more of a research-based approach to their business. Something many wineries have not yet experienced.
Critically, this understanding of what consumers want, especially the millennial generation, must cover the product inside the bottle. Not just the name, look and feel of a wine.
BUSINESS CASES FOR CONSUMER SENSORY RESEARCH
Consumer sensory research is now used by winery executives and business intelligence teams to gain an edge, across multiple areas of the business. Unlike traditional practices where a winery may use this type of research mainly in a localized lab setting and often with primary focus on the scientific makeup of a wine.
Business questions are driving the use of consumer sensory research today. This includes general market or category understanding and analysis, optimizing geographic and demographic targeting, flavour profile consistency analysis, portfolio cannibalization, sales decline analysis, new product innovation, competitive product analysis, new concept feedback, competitive benchmarking, consumer perception, and many other use cases.
Discovering, for instance, how a combination of flavours or aromas could resonate in the marketplace within seconds instead of months, is a game changer.
Advanced technologies including digital tasting platforms and artificial intelligence (AI) are also enabling wineries to extend their research to wherever their consumers are and helping them to gain a more accurate and comprehensive understanding of their target market and consumer base.
THE COST OF NOT KNOWING
Consumer sensory research can deliver significant returns on investment and must never be delayed.
The cost of driving a vehicle forward even a single mile with underlying uncertainty leads one further in the wrong direction. It also delays one’s return to the starting point, doubles the cost of gas and operators’ time, and generates unnecessary wear and tear on the vehicle.
The idea is to minimize business risk and optimize upside, before firing up the engines.
Now is the time to start the conversation.
We invite wineries that are interested in learning more about Quini’s advanced sensory consumer data solution, QUINI DATA™, to email us at email@example.com.
By Quini TeamOctober 21, 2020Comments Off on QUINI Expands Wine Sensory Data Market Coverage to Australia
Expansion Underscores Quini’s Scalability and Reach – Enables Quini to Market and Sell Insight on Australian Wine Consumers to Wine Producers Worldwide
VANCOUVER, BC – October 21, 2020 – Quini® (www.quiniwine.com), the undisputed leader for sensory real-time data, analytics and technology solutions for the wine industry, has expanded its wine sensory data services to Australia. Quini’s market coverage starts with the country’s three largest cities by population, Sydney, Melbourne and Brisbane.
Australia-based wineries and wine producers worldwide are now able to access local Australian wine consumer sensory feedback on their brands and their competitors’ products faster than ever and at significantly lower cost than traditional consumer research methods.
Effective November 1st, consumer sensory and attitudinal feedback acquired in the three launch cities will be published to QUINI DATA™ enterprise client analytics dashboards overnight.
“Quini’s service expansion to Australia reflects market interest in our technology and Quini’s unique model that enable us to deliver actionable local consumer sensory feedback and insight more quickly and cost effectively,” said Roger Noujeim, Quini’s CEO.
Quini’s expansion into Australia reinforces the scalability of Quini’s model and unlocks a major new market for Quini’s sensory data solutions.
Added Noujeim: “Quini is now well positioned to provide sensory data services to Australia’s wine industry that boasts 2000 wineries, as well as to all international wine producers that market and sell wine in Australia.”
Quini plans to initiate coverage in Perth and Adelaide as well, later this year.
About QUINI DATA™
QUINI DATA™ Gold, Quini’s flagship platform, is an annual subscription solution. The platform allows wine companies of virtually any size to tap local consumer sensory and attitudinal insight on an on-going basis. The system offers pre-built, intuitive analytics dashboards that deliver answers on-demand, with newly acquired data refreshed overnight.
QUINI DATA™ Silver is designed for wineries that require a one-time, adhoc research executed with the same speed, cost savings and analytics capabilities of the Gold solution.
Quini’s local wine tasting consumer panels today span more than 30 large wine metro markets in the United States, Canada and now, Australia.
Wine In Australia
Australia imports approximately around 900 Million US dollars worth of wine, according to Statista. The country’s exports stand at around 1.8 Billion US dollars with the United Kingdom, China and Italy being the largest export destinations. Overall, wine consumption in Australia is driven by around 10 million wine consumers, nearly seven to eight million of whom consume wine weekly, on average.
Quini is the leader in near real-time wine sensory data and technology solutions. Privately held, Quini is headquartered in Vancouver, BC. Quini is a Nielsen Connected Partner. The Quini project is co-funded by CMF (Canada Media Fund). The Quini Data platform is co-funded by the National Research Council through the IRAP program. Quini’s investor group includes OKR Financial (www.okrfinancial.com) and private investors.