Connecting cannabis businesses with customers

How can cannabis businesses gain exposure to a new market? The answer is through the use of various social media platforms. Cannabis companies need customers and influencers in order to drive traffic and make sales, however this marketing process has been cumbersome until now. Social Media Marketing for Businesses will help firms connect with potential consumers on popular platforms such as Facebook, Instagram or YouTube.

The “how do dispensaries advertise” is a question that many cannabis businesses have. One way to advertise is with social media platforms such as Instagram and Facebook. Another way is to use TV commercials or radio advertisements.

Connecting cannabis businesses with customers

Connecting-cannabis-businesses-with-customers

 

 

 

In 1996, California became the first state to legalize medicinal cannabis, followed by a slew of other states. Drug Abuse Resistance Education, or DARE, was widely promoted in schools at the time and remained popular until government funding was cut off in 2003. Meanwhile, tens of thousands of people in the United States have been arrested and some have been imprisoned for minor cannabis infractions.

Colorado and Washington were the first states to legalize cannabis for adult use sixteen years later, in 2012, and 17 other states have since followed suit.

Along with the cannabis industry’s development from the dark to the light, technology has exploded, becoming omnipresent across businesses and in everyday life. Technology is moving the cannabis business ahead, both in the grow house and in the marketplace.

Chris Beals, CEO of Weedmaps, the world’s biggest centralized online cannabis marketplace, spoke with NJBIZ about his company’s role in the cannabis ecosystem. “The simplest way to think of us is as an Amazon for cannabis, but we don’t handle the items.” “We assist shops show off what they offer and allow customers to make purchases online,” Beals said.

Weedmaps also has a comprehensive business suite, including CRM software and an e-commerce plugin to run a company’s web shop. “Everything that helps cannabis companies develop demand, fulfill that need, and have consumers come back and purchase it again,” Beals said.

Customers ask three questions while shopping for marijuana: what percentages of cannabinoids are in a product, what is the therapeutic impact of the product, and what is the best pricing.

“It’s nearly hard to accomplish it in a sortable, simply engaging manner in physical shops or by searching on Google,” Beals added. However, you can do that on Weedmaps by just entering your zip code.

Consumers may be guided to dispensaries depending on precisely the things they’re seeking for, rather than what’s on their commute to and from work, thanks to websites like Weedmaps and smaller sources like PotGuide.

Consumers may be guided to dispensaries depending on precisely the things they’re seeking for, rather than what’s on their commute to and from work, thanks to websites like Weedmaps and smaller sources like PotGuide. Businesses can attract consumers with deals, special offers, and “drops” of specialty products. The accessibility brought on by such technology has brought more people from the legacy market into the legal market, Beals said. Weedmaps has 16 million monthly active users, 94% of whom report con-suming monthly.

However, in non-mature areas where a major part of consumers reside more than 15 minutes away from their closest can-nabis outlet, the legacy market continues to attract customers.

“Probably 95 percent of New Jersey’s population resides outside of that 15-minute catchment zone, based on terrain.” Outside of that, you can only expect for 30 to 40 percent [of illegal market buyers] to come over,” Beals added.

Customers who reside outside of that 15-minute zone or who just want their cannabis delivered like pizza or Chinese cuisine are served by cannabis delivery companies like California-based Eaze or East Orange-based Roll Up Life LLC, which is pursuing a delivery license in New Jersey.

Precious Osagie-Erese and Tiyahnn Bryant, co-founders of Roll Up Life, established their firm to be a technology company at its heart. “We discovered that every delivery is fueled by technology in some way,” Osagie-Erese remarked.

“We built our Roll Up Life app to be similar to an UberEATS or DoorDash app,” Osagie-Erese said, “where users choose cannabis goods from dispensaries in their neighborhood and our drivers bring it straight to their doorsteps.” “For our dispensary partners, we developed an easy-to-use Roll Up Life dispensary app that links to our system to guarantee that all orders are correctly prepared and logged on both our and their sides.”

System of tracking

New Jersey, like other legal cannabis markets, requires a seed-to-sale System of tracking to prevent spillover from the regulated market into the unregulated market. Last month the state tapped Metrc, a track-and-trace system that serves cannabis companies and regulators across 19 states using advanced software, radio-frequency identification technology, and a secure database. Metrc’s technology allows state regulators to track exactly when product is loaded into a vehicle for delivery to a consumer or delivery to a retailer—something that would be nearly impossible otherwise.

Not only is technology informing customers about what’s available and delivering goods straight into their hands, but it’s also educating companies on which things to focus on by watching market patterns.

“You have to bear in mind that the marketplace is worth several billion dollars, and a lot of firms don’t know what sorts of business are being done,” Beals said. “Who are my top ten regional competitors?” In this area, who has the greatest search traffic? What are people purchasing, and what are we seeing in terms of pricing?

“With these restricted medicinal supplies, it doesn’t matter as much.” This is especially important when you go into the recreational market. Customers will flock to the business because of certain product kinds. He predicted that “high-value, high-quality things would come in and out of your business in one day.”

Since launching Headset in 2015, Cy Scott, the creator of Seattle-based software-as-a-service platform Headset, has focused on sharing business insights with cannabis entrepreneurs.

Headset, which specializes in retail measurement data, “works with dispensaries to make their data work for them,” according to Scott. “We provide them with business intelligence so they can make educated choices.”

For example, Headset data may inform firms that drinks (45 percent) and pre-rolled joints (45 percent) have the largest year-over-year sales gains (39 percent ). Flower sales climbed just 12% in 2021, but they are still the most powerful force in the industry, with $549 million in sales. Vape pens are the market’s second-largest contributor, putting in $259 million.

The only product category in which retail sales in the United States decreased year over year was tincture/sublingual, which brought in $159 million nationwide.

The process of converting relevant data for firms in New Jersey has already begun.

“In both the medical and adult-use industries, Headset gets data from close to 3,000 sites throughout the United States and Canada,” Scott stated on April 20. “As soon as New Jersey opens [on April 21], we’ll start gathering data from our retail partners who are establishing sites.” The data is then aggregated, normalized, and cleaned up so that equivalent insights on the New Jersey market may be published.”

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