A big concern for many of us in the wine industry is price points – will we have to drop prices in order to make money these days? Many people associate price drops with the Millennial generation because it’s assumed they buy cheaper wines. What if instead of dropping prices and hoping to gain sales, a business could build an additional customer base with their EXISTING prices? A business will have to change a few things in order to create a Millennial customer base, but prices don’t have to be one of them. Each Friday I’ll be bringing you a specific tip and serious insight on how to reach out to Millennials as CONSUMERS. You can put these tips into practice immediately and see for yourself how effective they can be.
Last week we discussed the danger and tendency to generalize an entire generation. This week we continue our example of the young couple in a winery’s tasting room…
This is key. As a sales person, asking questions is how you find out if your young couple that just walked in the door are looking to buy a $35+ bottle of wine or if you need to guide them. Keep your questions casual but targeted. Find out if they are from out of town – if they have taken a special “wine country trip” they may be in the area to buy bottles. If so, be sure to mention some “insider tips” on wine and buying – they are obviously serious. Ask where they are staying – an old trick for finding out what their price range could be.
As a business owner, you are not only learning more about a group, but you are making a sale creatively and perhaps one that you never expected.
If from your questions you discover that they wouldn’t normally purchase a bottle in your price range, point out a special occasion or a gift possibility. According to my own 100+ blind survey (stay tuned for full report) the majority of Millennials are willing to spend more on a bottle of wine as a gift, and 80% of Millennials sampled buy wine as gifts. Have you found out why they are in the area? Is it a vacation? A family wedding? Getaway weekend? A special bottle that they both enjoy could be a wonderful keepsake for these trips. Before I even worked in wine, my boyfriend and I had a getaway to the Central Coast where we decided that we’d splurge on a great bottle we loved in order to lay it down and open it the next year. Suggest that for a special occasion – it’s something they might not be thinking of. You get the idea. You can only make these suggestions if you have a working knowledge of who they are and why they are in your tasting room. The more you know about them, the better you can tailor your sales pitch.
Again, this is a simple and logical step, but one that is not taken by the majority of business owners with Millennials. It pays off all around. As a business owner, you are not only learning more about a group, but you are making a sale creatively and perhaps one that you never expected. By asking questions, you are focusing your attention and not judging them. From their point of view, they see that you are investing energy and time in them and will have a positive experience along with their purchase. This means positive feedback outside – facebook, twitter, yelp, blogs, as well as good old-fashioned word of mouth.
Congratulations – you’ve started to build a new customer base.