As a canna-business, you have a lot going for you. According to USA Today, the market in the US has made $8.5 billion between 2017 and 2018, and it’s expected to grow to $23.4 billion by 2022.
There’s clearly a lot of money to be made in the cannabis space, particularly as governments and consumers become more open to it.
But just because the industry is booming doesn’t mean that customers will naturally flock to your dispensary. Having a “build it and they will come” mentality can put your business in the red faster than you can say “Legalize It!” so don’t be complacent. Make it a point to actively market your business so you can consistently drive traffic, sales, and loyalty.
Here are a handful of tools and tactics to help you do just that:
As an industry expert and business owner, you’re in a great position to inform and educate people about cannabis. Start creating content pieces on the ins and outs of marijuana (i.e., types, uses, benefits, etc.) and distribute them through your website, YouTube channel, social sites, and other media properties.
Doing so will help position your brand as a trusted authority in your space. And since people are more likely to buy from companies they know, like, and trust, your content marketing initiatives could drive awareness and sales.
Investing in great-looking and highly visible signage can do wonders for your foot traffic and revenues. A great example of this comes from People’s OC in Santa Ana, California. People’s location is situated near a high-traffic freeway, and the company cleverly takes advantage of this by displaying a large sign on their building that’s clearly visible to drivers.
A quick look at their Yelp page shows that their effort to be more visible on the freeway helps the business attract new customers.
It doesn’t stop there, though. People’s OC also uses attractive digital signage in-store to display their product menus, and this makes it easy for shoppers to find what they need.
Email continues to be an important marketing channel for many business types, and cannabis companies are no exception. Make it a point to collect email addresses from your customers and market to them on a regular basis.
Take a leaf out of MedMen’s playbook. In addition to taking down email addresses in-store, MedMen also collects emails on its website, and they even throw in a 10% discount for those who sign up.
MedMen then implements a great email marketing calendar; the company regularly sends a variety of email content, including:
- Educational articles
- Company updates (e.g., new products, new store openings)
- Offers and promotions
- Seasonal content (e.g., holiday emails)
Customer Relationship Management (CRM)
Speaking of collecting customer information, be sure to arm your business with a great CRM to help you collect shopper information, track purchase histories, and communicate with customers easily.
With a robust CRM, you’ll be able to personalize customer interactions and market to them in the most relevant, cost-effective ways possible. Looking to learn more about canna-business marketing software? Our whitepaper, Building Your Cannabis Business: Choosing the Right Software has you covered. This resource sheds light on everything you need to know about cannabis business software, including marketing, accounting point of sale, and more.