Today's Guest

Mike Provance is the CEO of 3x3, a growth marketing company for beer, wine, and spirits brands. The company focuses on democratizing data to help alcohol brands grow according to their goals. Leveraging data collected from over 1,500 stores, 3x3 is better able to understand the preferences and processes behind purchases so retailers/brands can identify and act on emerging trends using digital tools. Mike shares how the approach and methods they use can be applied to any local business and how data is foundational to any successful marketing campaign.

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Episode Summary

Most of my career has been centered around helping companies leverage technology to reach more customers and grow their businesses. The mission of 3x3 is to empower the small liquor stores with the same type of technology the bigger stores they compete with are using. The foundation of any sales and marketing campaign has to be data. The days of waiting for new consumers to find and walk into your store are gone. To stand out from all the noise and draw people into your store you have to make a connection with them and today that first connection is almost always digital.

As we got started we were fortunate to tap into a great network of small liquor stores across the US and Mexico that were interested in gaining insights about their customers. We started by looking at the transaction data to understand buying behaviors and patterns. While this type of data had been collected at the big chain stores, no one was collecting it from the local stores and over half of the retail sales come through the independent liquor stores, restaurants, and bars.

Using data, we were able to build buyer personas that gave us a better understanding of the consumer profile that was shopping at these local stores. From there, we could build marketing campaigns that targeted look-a-like consumers that were most likely to take the desired action. The value to the business didn’t just stop with marketing though. Everything from what to advertise on endcaps, to store layout, and what products to purchase were influenced by the data. 

At the end of the day, no matter what type of business you are in, we are all trying to make the next sale. The methods and approach we applied to liquor stores could be used in any industry. It starts by looking at your business through the eyes of the consumer, if your products or services aren’t appealing to them and how they want to buy then you are going to struggle. Think about it in your own life, the businesses that are responsive to your needs, are easy to do business with, or who market to you based on your needs are the places most likely to earn your business.

Resources Shared

• 3x3 Insights
• Thryv
  

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