{"id":47843,"date":"2023-10-20T15:55:36","date_gmt":"2023-10-20T15:55:36","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/cheers-why-vinomofo-measures-happiness-over-sales-startupsmart\/"},"modified":"2023-10-20T15:55:36","modified_gmt":"2023-10-20T15:55:36","slug":"cheers-why-vinomofo-measures-happiness-over-sales-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/cheers-why-vinomofo-measures-happiness-over-sales-startupsmart\/","title":{"rendered":"Cheers: Why Vinomofo measures happiness over sales – StartupSmart"},"content":{"rendered":"
\"\"<\/div>\n

A few months ago, fast-growing Australian startup Vinomofo embarked on a \u201cweird\u201d experiment.<\/p>\n

For the last four years, co-founders Justin Dry and Andre Eikmeier have measured their success the same way most companies do \u2013 through revenue and profits.<\/p>\n

But the online wine retailer prides itself on its core values – of stepping up, caring more, keeping it real, doing some good and having some fun, and the focus on profits often was often in contrast to this credo.<\/p>\n

\u201cIt was putting the focus on the wrong type of behaviour,\u201d Dry tells StartupSmart.<\/i><\/p>\n

\u201cWe sat back and realised that if you focus on other things it can still result in the same thing but be a far more pure experience.<\/p>\n

\u201cWe wanted to put the focus not on trying to limp over the line or create this desperate mad dash to hit those numbers.\u201d<\/p>\n

Testing the happiness theory<\/h3>\n

Dry completed an A\/B test of sorts on the theory –  he split up the 95-strong Melbourne-based team into two \u2013 one half continued using the \u201ctraditional metrics\u201d of sales and the other started using happiness as a metric.<\/p>\n

The results were \u201cabsolutely insane\u201d.<\/p>\n

The happiness-focused half of Vinomofo achieved about 30% better results and sales than its counterpart, and Dry quickly set about implemented these new metrics across the whole startup.<\/p>\n

\u201cIt\u2019s a weird shift but the results are incredible,\u201d Dry tells StartupSmart.<\/i><\/p>\n

\u201cThis is really quite new for us.\u201d<\/p>\n

The happiness index<\/h3>\n

Vinomofo now utilises a number of \u201chappiness indexes\u201d as metrics for success.<\/p>\n

The happiness index for customers is based on feedback, sales, surveys, engagement, referrals and return.<\/p>\n

\u201cWe use that measurement as a performance guide for our customer team as opposed to total sales for a day,\u201d Dry says.<\/p>\n

\u201cThe result is a happier customer that\u2019s much more loyal to us. It\u2019s a win-win.<\/p>\n

\u201cThere are about 45 people on the team and their role is just to make our customers happy. It\u2019s not like a normal broker role based on how many sales you get in a day. These guys are measured on how happy they make our customers.<\/p>\n

\u201cWe\u2019ve put the focus on the right things.\u201d<\/p>\n

The startup is also using a team happiness index internally as well as with suppliers.<\/p>\n

Taming the beast<\/b><\/h3>\n

While sales and revenue obviously still have to be a main concern, Dry says it\u2019s about shifting the overall focus from money to being culture-driven.<\/p>\n

With the changes rolling out two months ago, Dry says it isn\u2019t an easy process but it\u2019s one all startups should consider and test.<\/p>\n

\u201cIt\u2019s such a complicated beast to get right,\u201d he says.<\/p>\n

\u201cYou need to work out what is really important and it needs a real change in thinking.\u201d<\/p>\n

\u201cOver the journey we\u2019ve come to this conclusion after quite a few years of slowly getting there.<\/p>\n

\u201cTo totally just release yourself from this revenue number and trust the measures you\u2019re putting in place will get you there anyway is a really weird thing for founders, but the results are incredible.\u201d<\/p>\n

Vinomofo will soon be taking its happiness-fuelled mission globally, launching \u201clight versions\u201d of its service in over 10 markets worldwide to pinpoint those with the largest potential early next year.<\/p>\n

Do you know more on this story or have a tip of your own? Raising capital or launching a startup? Let us know. Follow StartupSmart on<\/i> Facebook<\/i>,<\/i> Twitter<\/i>, and<\/i> LinkedIn<\/i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

A few months ago, fast-growing Australian startup Vinomofo embarked on a \u201cweird\u201d experiment. For the last four years, co-founders Justin<\/p>\n","protected":false},"author":1,"featured_media":58322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47843"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47843"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58322"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}