5 Game-Changing Tools to Increase Cannabis Brand Sales & Market Share
In cannabis markets such as the one here in Oklahoma, where as of today, there are nearly 1,500 active cannabis processor licenses, your ability to generate brand sales and obtain/sustain enough of the market share to thrive depends significantly on your ability to differentiate your business in the marketplace.
Here is the application & licensing report as of January 31, 2020. Business totals do not include pending renewal. pic.twitter.com/27Iw2ZVHnh
— Oklahoma Medical Marijuana Authority (@OMMAOK) February 5, 2020
Below you will find 5 tools/resources that have dramatically helped my processor clients establish brand credibility, increase sales & make life easier on the dispensaries and patients in the market for their products. Which in turn, allows sales and market share increase to happen
#1 – Password protected eCommerce websites, pre-configured with wholesale accounts for every OMMA dispensary licensee.
Not only does this simplify sales efforts (whether making sales calls or in-person visits) but it also saves you and your customers time, makes it easy to keep in touch with them via text or email, and also provides a layer of accountability for your sales team, as you can easily see how many accounts have been approved by each sales person each day.
Sales calls are tremendously easier with this in place because (the way that I set up the wholesale websites) all of he dispensaries already have accounts. The calls are just to verify their account info and give them access vs having to enter it manually on every call.
The eCommerce functionality is not going to be as essential for growers due to the fact that most dispensaries are going to want to smell/see/smoke the product prior to purchasing.
However, a custom designed WordPress website is necessary, at bare minimum, in order to use the rest of these tools.
#2 – Retailer Map / Store Locator
Have you ever tried to purchase a specific brand of any product, only to find out that there is no way to even figure out where to buy it? If not, maybe you can imagine how frustrating that might be.
Welcome to the struggle of the Oklahoma cannabis patient.
You would definitely be surprised by how many brands fail to take the responsibility of showcasing where their products are sold into their own hands. You would likely also be caught off-guard by how many people are looking for these maps, only to not be able to find them.
By providing a map of the dispensaries where your products are knocking out at least 3 birds.
1. It establishes social proof for the dispensaries you are selling to/through, showing prospective dispensaries that patients buy your products.
2. It shows your prospects/customers that you have interest in their success and not only yours.
3. It shows patients where your products are available.
Many brands seem to assume that the dispensaries they are selling to will include the products on their Weedmaps pages, which would solve the problem. However, The primary alternative that most brands seem to consider here is Weedmaps but unless you want to pay $1,000/month to verify your brand, Weedmaps isn’t going to help you much. Plus, patients use Google about 5-10x more often than they use Weedmaps, anyway (the data is very clear at this point).
#3 – Live Chat Widget / App
I manage live chats for 3 websites and have come to learn that dispensary owners and purchasing managers are much more likely to reach out via live chat than pick up the phone and call. It’s just easier.
Tawk.to provides a free live chat plugin and mobile app, which enables you and your team to field incoming inquiries and conversations from your cell phones. You can actually message visitors before they message you, which might come across as a little creepy but it is possible.
#4 – QR Codes Linked to Hosted Test Results (and printed on product labels or on display cases)
As a patient, it often makes me scratch my head as to why lab results on most products are not readily accessible.
Hosting your labs on your website and creating QR codes that link to them makes life easier for your customers and gives peace of mind to patients, which makes them more likely to purchase your products vs somebody else’s.
Not doing this is almost equivalent to not including an ingredients list or any re-assurance of quality control when selling food products. It really doesn’t make a lot of sense.
#5 – Segmented Newsletter or Text Message Updates With Easy Opt-In
One of the most common mistakes I find on grower and processor websites is that most companies do not have their newsletters/marketing lists set up in a way that separates consumers/patients from dispensaries.
White it is important to build lists of both, failing to segment the contacts creates a problem. Without knowing who is a consumer and who is a dispensary, it becomes very difficult to communicate with the list in a relevant and meaningful way.