The cannabis industry is advancing at an unprecedented rate, and the competition among cannabis entrepreneurs is getting stiff as the days go by. Whether you are running a cannabis dispensary, delivery app, seed bank, or any other cannabis business, you need to find ways to stand out from the rest of your competitors for the success of your business. Here are some ways to achieve a competitive edge in the cannabis market as a cannabis business owner.
Offer loyalty programs
Loyalty programs are very enticing, especially in a medical marijuana dispensary. Regular cannabis users find loyalty programs valuable because it helps them save more on their marijuana purchases. According to the latest cannabis consumer data, 54% of consumers consider buying from a company based on the loyalty rewards they get. You can offer loyalty rewards in the form of:
- Points per purchase: customers earn several points depending on the acquisition and then redeem them after reaching a specific number.
- Refer a friend rewards whereby a customer earns rewards or points for referring someone they know to your cannabis retail store.
- Loyalty card programs in the form of VIP cards, punch cards, and freebie cards.
Offering loyalty programs allows you to build trust with your customers and increases your customer retention.
Use brand ambassadors
There are stringent regulations surrounding cannabis marketing, making it challenging to advertise cannabis dispensaries and other cannabis businesses. Therefore you need to maintain a professional image of your brand online and locally. Brand ambassadors can help you showcase products in your dispensary, offer in-store promotions, and endorse your brand. Consumers feel more confident when buying a product endorsed by someone famous.
Create more content and how-to videos
As more cannabis products get into the market, many consumers might not be buying some of your products simply because they don’t know how to use them. Creating content around the cannabis products you sell and how-to videos are the best way to attract more customers. For instance, how to roll joints, use a vaping device or a dab rig, cultivate marijuana seeds in different environments, etc. Depending on your cannabis business, there is so much content you can create to engage your customers. Plus, content also boosts your search engine rankings besides educating consumers.
Solicit customer reviews
Today, many consumers use customer reviews to make buying decisions and determine if they can trust your business. So you need to encourage your customers to review you to help your cannabis business stand out. Ensure you have a review link on your website and ask satisfied customers directly to leave a review after shopping to encourage more customers to shop with you. Remember that 31% of customers are more likely to shop from a business with positive reviews.
Integrate an effective interior design in your store
The layout of your cannabis store makes a difference in customer retention. When your customers walk into your dispensary, they expect a welcoming place and open aisles that make it easy to view different cannabis products. Similarly, your website should have an easy-to-use design for users.
The final word
Ensure you adhere to your state’s regulations regarding cannabis marketing.