Posts Filed Under wine news
Disappointed that your wine sales aren’t seeing an impact from your social media efforts?
Then this study of the social media impacts experienced by nearly 400 U.S. wineries strongly suggests that you are approaching social media incorrectly. Which will come as a surprise to exactly.no-one who reads this big regularly.
A quick quote:
“The results show that 87% of wineries in the sample report a perceived increase in wine sales due to social media practices.”
That’s it, we’re done here, the end. Seriously, go read the summary, and then if you decide that you’d rather not increase sales, don’t bitch and moan if your winery or band tanks eventually.
The debate on this topic is over. If you still think social media has no/little place in wine, then in the words of Obi-wan Kenobi, “you are lost!” If that remains your stance, I cannot help you; go back to sticking your head in the sand in your flat, 3,000-year-old earth where humans didn’t evolve from primates and the climate isn’t warming.
We have (rather strong) anecdotal evidence that purchasing fine wines as investment vehicles is, for most people, an absurdly bad idea.
Those examples, as strong as they are, could be criticized as falling under the “fallacy of small numbers” category, however, which might lead the hopelessly duped eternal optimists out there to conclude that in their cases, investing in fine wine for profit will somehow be different.
A recent article in the Wall Street Journal, however, should dispel that myth for all but the most hopelessly duped. The bottom line is that the WSJ dug into what might be the most comprehensive scientific study yet performed on the returns of the fine wine investment market, going back over historical selling prices of the last one hundred years or so, and its conclusions are sobering (see what I did there?):
“After mining historical price data for top clarets going back to 1899, including the prices fetched in auctions before World War I, the researchers calculated that over the entire period, the prices of these wines beat inflation by an average of 5.3 percentage points a year.”
While that might sound encouraging, it’s not. Any such returns and performance have to be adjusted for expenses in order to show the actual rate of return. When that was done, the results looked a lot less profitable, particularly when compared to good old fashioned, boring stock index funds…
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Those not getting the title reference today need to hang their heads in total shame! No wine for you!!
Anyway… remember, about a year ago, when we talked about the data behind a new wine app, Wine4.me?
Well, I’m pleased to tell you that the Wine4.me app is (finally!) available for download in iTunes.
The full disclosure part of all of this is that I was paid to be one of the expert tasters on the panels that formed the basis of Wine4.me’s data, and I am an ongoing contributor to their consumer-facing blog. But they’re not paying me to tell you about the app’s release; I’m doing that because I’m genuinely excited to see it go live. Finally.
The bottom line is that while the mobile wine app space is insanely crowded right now, no other wine app out there (that I know of, anyway) is so steeped in data and the scientific method (we already know how I feel about that stuff, right?), so consumer-focused with a for-real value proposition (using that data to significantly increase your chances of finding a similar wine you will enjoy), and actually pops the corks on bottles themselves to get there. There also happen to be some lovely human beings involved in this project, and working with them has been nothing short of a total pleasure (and hey, it’s better we highlight the work of nice people, instead of that of a bunch of douchebags, I suppose)…
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