The biggest competitive opportunity for dispensaries is to relentlessly focus on delighting prospective and existing cannabis consumers within every touch point throughout their initial inquiry to purchase journey.
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The right strategies impeccably executed will achieve these growth objectives while overcoming black market pricing, limited consumer base, lack of loyalty and daily operational grind.
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The following SMART strategies address each of the growth objectives while mitigating the main challenges seen by dispensaries:
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Customer ACQUISITION Strategies
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Live Educational Programs – featuring health, wellness, safety and use of products given by top experts who are also great communicators. This is one of the most effective tools for addressing black market alternatives.
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Public Relations – emphasis on education and supporting community-based causes. Word of Mouth – reward existing customers (via enhanced Loyalty Program) to “Bring a friend” every time they shop.
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Online Promotion – strategic placement in online cannabis directories and event listings. Social Media – to promote live workshops, events, demos, cannabis-related news and YouTube videos of previous educational workshops.
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Website Optimization – organic and PPC Google placement, UI / UX optimization, video testimonials, topical blog posts, clear “Loyalty Program” page, trust-building “About Us” page.
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Customer RETENTION Strategies
- Customer Delight Program – a written plan (with staff input / buy-in) that optimizes store operations and addresses every aspect of customer experience with emphasis on friendliness, helpfulness, low-friction and readily available useful information.
- Enhanced Loyalty Program – easy to understand and is perceived as valuable by the consumer.
- Newsletter – twice monthly newsletter that designed to build trust, loyalty and educate.
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Customer LIFETIME VALUE Strategies
- Membership Drive – with the goal of encouraging every customer to become a member of the Loyalty Program with permission to txt and email high-value promotions just for them.
- Deep Data Integration – integrating weekly POS data into a powerful CRM that allows the surgical targeting of existing customers to reach out to them via txt or email in ways they will find extremely valuable and encourage them to come into the store. This approach can result in dozens or more extra store visits a day the moment it is turned on.
- Live Educational Programs – featuring health, wellness, safety and use of products given by top experts who are also great communicators. This is one of the most effective tools for addressing black market alternatives.
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