Are you ready to plan your budget and goals for next year, or refine them for the
remainder of this year?
WinePulse Goals are now available to enable you to easily see and track your
monthly/yearly progress against your goals (see screenshot here).
Simply enter your monthly budget/goals into the provided Google Spreadsheet. You can access this spreadsheet by clicking “Update Goals” from the WinePulse Reports home page.
Enter your monthly goals in the January to December cells for each applicable goal line. Only numbers are permitted and you cannot change the format of the spreadsheet or alter the goal titles. Use % when entering the conversion rates and not decimal points. The yearly totals will be automatically calculated. If you don't want to track all these goals, just enter the ones you are focused on and leave the others blank.
WinePulse updates every night, so add or tweak your goals today and you will see the updated monthly and yearly goal dashboards tomorrow!
Note that at the beginning of each month, the forecast figure displayed in Goals Monthly may be excessively high or low depending on the starting day(s) of the month. For example if the first of the month is a busy Saturday, the calculation will initially use this figure to extrapolate an overly optimistic forecast for the whole month. After a few days further into the month, this effect will level and produce a more realistic goal forecast. This effect is exacerbated during months in which you process your Wine Club early in the month, because WinePulse will use those early WC sales to forecast WC sales for the month and total sales.
See below for very detailed suggestions on how you can use WinePulse Reports to show your current or previous year's actuals and adjust these to create a planned goal for next year!
USING WINEPULSE REPORTS TO PROVIDE YOU WITH GOALS FOR NEXT YEAR
The instructions below are guidelines only. You know your business and what goals and percentage increases you want to apply. The aim here is to provide you with an easy method to obtain your previous (or current year) actuals from WinePulse reports and adjust the numbers for your future goals!
Here are some suggestions for getting last year and current year figures from WinePulse to help create your future goals. Remember you can download to Excel all the reports to do your manipulation. WinePulse goals are split into
- Sales Goals ($),
- Tasting Room Metrics
- Wine Club Metrics.
GOAL: Sales goals ($)
Use this Report: 01 DTC Overview > Sales & KPI > 10-Sales by Month and Channel to show your Wine Sales and Total Sales by month and by channel. Subtract Wine Sales from Total Sales and you have “Other” sales by month. Run this report for 2019 to get your actual YTD results and use this as a basis to develop goals for 2020.
Decide what percentage goal you would like to have for next year (for example: 5% increase). Just add 5% to each 2019 sales number. If you are an Excel user you can use this formula to achieve this: =ROUND(LastYearsSales * 105%, -2) Note that the “-2” rounds to the nearest $100
GOAL: Tasting Room Metrics
Use this Report: 03 Tasting Room > Sales & KPI > 01 Sales Overview for 2019 to provide most of what you need for this part of the goals:
Total Tastings & Bottles Sold
Are you looking to increase tasters? You could add, say, 5%, rounded, to the total and divide by 12 to get average monthly numbers. Maybe choose a lower amount for the winter months and higher for the summer months.
Wine Order Conversion Rate and Wine AOV
Increase both of these a little to challenge yourself next year! You can make it a consistent number for each month throughout the year, unless you know something we don’t!
Use this Report: 04 Wine Club > 02- Wine Club Yearly
Wine Club Conversion Rate
Also increase this a little to challenge yourself next year and apply the same value across the year, unless you have particular membership drives at certain times of the year.
GOAL: Wine Club Metrics
You can use the same report: 04 Wine Club > 02- Wine Club Yearly to complete the last two goals:
Wine Club Signups
Depending on your goals, decide if you want to continue with the same number of monthly signups or increase slightly and spread these evenly across the year, or have a higher number in your busy months.
Wine Club Active Members
The report shows you the end of year (or YTD if running the report for the current year) number of Club Members and net growth/decline since the start of the year (taking account of signups and cancellations). Based on that, decide what level of growth you would like for the following year and divide that by 12 to get the monthly growth figure. Estimate the number of club members at the end of the current year and then increment each month by your required growth number.