naked wines: a truly social business: eamon fitzgerald
Post on 21-Oct-2014
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Presentation delivered at the Digital Marketing Show 2013 (www.digitalmarketingshow.co.uk)TRANSCRIPT
A truly social business
@NakedWines@grape_escape
What’s next? Where will growth come from?
We believe:
The biggest engine of future growth will be…
…The Social Business
Here’s why you should take it seriously…
We are PAYING to be sold to.
Wine Not wine
In four-and-a-bit years, we have…
Acquired 500,000 new customers…
Invested over £40m into independent winemakers
Shipping over 25,000 bottles of wine… a day!
Grew sales by 54% in 2012
And we’re profitable.
While competing against…
How?
Carmen Stevens
- First black woman to graduate from winemaking school in South Africa
- Angels got together to raise £120K in 8 hours
- Her dream came true to be her own boss and make wines under her own name
Katie Jones
- Vandals destroyed her entire white vintage while she was at a wine fair in March
- One month later, 2,500 Angels raised £200,000 in 5 hours to get her back in business
Why do we do it?
Vicious Circle Virtuous CircleSuppliers • Screw suppliers into the
ground in search for lower prices
• Pass selling costs onto suppliers
• Invest in suppliers so they can improve quality
• Remove selling costs
Customers • Identify best customers – and then fleece them
• Best deals to best customers
Staff • Outsource, downsize, right-size
• Make all staff shareholders – so that they share in the value they create
And we’re not alone
We involve our customers in everything we do
5 take-away learnings
1. Become an Angel
2. Try not selling
3. Be authentic
4. Admit when things go wrong
5. Invest in talent, not sales
A festive freebie…
- Get £40 off your first order of £49.99 or more
www.nakedwines.com/digitalmarketingshow
And finally, could you use…
£100,000
…of free wine to help you sell what you sell?