One of the biggest challenges dispensaries face is attracting customers and keeping them happy without eroding profit margins through excessive discounting. With over a decade of experience working with dispensaries and delivery services, we’ve developed a deep understanding of which promotional strategies work best.
Strategic promotions not only draw in new customers but also encourage repeat visits and build lasting loyalty. The right deals can turn occasional shoppers into regular patrons, boosting sales and your bottom line while maintaining healthy profit margins.
Before diving into these examples, keep in mind the following concepts that apply to every deal to ensure it’s as effective as possible:
- Consider Slow-Moving Products: Utilize promotions to clear out slow-moving inventory, making space for new and popular products, and prevent overstock.
- Coordinate with Vendors for Reimbursement: Work with your vendors to create deals that can be reimbursed. This can help maintain your profit margins while offering attractive discounts to customers.
- Marketing and Advertising: Ensure your promotions are well-advertised through social media, email newsletters, in-store signage, and other marketing channels to reach a wide audience. Everyone is searching for "weed deals near me," so be sure to include deal advertisements on your website to appear in search results.
- Maintain Your Margin: Carefully balance the discounts offered with your profit margins. Regularly analyze the financial impact of promotions to ensure they are beneficial.
- Consistency is Key: Regular promotions on set days create anticipation and can drive consistent traffic to your dispensary.
Here are a few proven promotions to help you attract customers, boost sales, and build a loyal customer base.
1. Discount Days/Daily Deals
Daily deals can create excitement and drive consistent traffic. For example, "Munchie Mondays" could feature discounted edibles, while "Wax Wednesdays" offer deals on concentrates. Regular discounts create anticipation and encourage repeat visits. Ensure these deals are well-promoted through various channels and keep the deals easy to remember.
Here’s some inspiration for your Dispensary’s Daily Deals:
- Munchie Monday: 20% off all edibles, including gummies, chocolates, and baked goods.
- Top-Shelf Tuesday: Buy a Top-Shelf 1/8th, get a promotional pre-roll for $1.
- Wax Wednesday: 15% off all concentrates, including wax, shatter, and live resin.
- Thirsty Thursday: 20% off all cannabis-infused beverages, such as teas, sodas, and tinctures.
- Flower Friday: $10 off all eighths of flower, any strain.
- Sativa Saturday: 20% off all sativa strains, including flower, pre-rolls, and concentrates.
- Indica Sunday: 20% off all indica strains, including flower, pre-rolls, and concentrates.
- CBD Sunday: 15% off all CBD-only products, including tinctures, topicals, and edibles.
- Happy Hour: 20% off all orders from 4:20PM - 6:00PM, or 7:10PM-9:00PM.
Tips for Implementing Daily Deals:
- Promotion: Ensure these deals are well-promoted via your website, social media, email newsletters, and in-store signage. Offer deals that are easy to remember so customers don’t have to think to figure out what is on sale that day.
- Rotation: Consider rotating the specific products or categories featured in each deal to keep things fresh and exciting.
- Plan accordingly: Strategically schedule your best deals for slower days to boost traffic when it’s typically lower. While offering enticing deals on your busiest days can help you stand out from the competition, focusing on slower days can significantly enhance overall sales. By setting up appealing promotions on these less popular days, you can increase foot traffic and make the most of your inventory.
- With Meadow POS, you can set it and forget it. Set discounts to apply on certain categories, brands, or products on days of the week, and during certain timeframes.
2. Loyalty Programs
Implementing a robust loyalty program is crucial for the long-term success of your dispensary. While attracting new customers is important, retaining loyal customers is far more critical for sustained growth and profitability. Repeat customers are more likely to make larger purchases, refer friends, and provide valuable feedback.
Loyalty points can be accumulated for discounts, free products, or exclusive access to new product releases, fostering a sense of appreciation and exclusivity. Beyond incentivizing repeat business, loyalty programs also help gather valuable customer data, enabling personalized marketing and improved customer experiences.
Here are some loyalty program examples you can implement with Meadow POS:
Point-Based System
Customers earn points for every dollar spent, which can be redeemed for discounts, free products, or exclusive merchandise.
How it Works: Earn points for every dollar spent.
Example: Earn 1 point for every $1 spent, redeemable for discounts or free products.
Tiered Rewards Program
Customers progress through different tiers based on their spending, unlocking greater rewards and benefits at each level.
How it Works: Customers earn points and move up tiers as they spend more.
Example: For every 100 points, receive $10 off. At 200 points, receive $20 off.
Visit-Based Rewards
Reward customers for frequent visits to encourage repeat business.
How it Works: Customers earn points or rewards for each visit.
Example: After 10 visits, receive a 15% discount on your next purchase.
Product-Specific Rewards
Offer free merchandise or discounted products based on points accumulated.
How it Works: Customers can redeem points for specific products.
Example: For every 10 points, get a free smoking accessory. For 20 points, get a penny pre-roll.
Cash-Back on Purchases
Provide a percentage of cash back on purchases, which can be used for future transactions.
How it Works: Customers earn a percentage of their purchase amount as cash back.
Example: Earn 5% cash back on every purchase, redeemable on future orders.
Tips for Implementing a Loyalty Program:
- Balance Rewards with Margins: Ensure that the rewards and discounts offered through your loyalty program do not erode profit margins. Regularly analyze the financial impact to strike a balance between customer satisfaction and maintaining healthy margins.
- Legal Compliance: Ensure your loyalty program complies with all relevant cannabis regulations and advertising guidelines. Clearly communicate the terms and conditions to avoid any misunderstandings or legal issues. For example, offering free products is prohibited under some regulations, so consider requiring a purchase with points to avoid a $0 transaction.
- Keep it Simple: Ensure the program is easy to understand and use. Complicated rules and processes can deter customers from participating. Integrate the loyalty program seamlessly into your POS system and online store to streamline the process for both customers and staff.
- With Meadow POS, offering and managing your loyalty program is simple. Customers can redeem points in-store with a few clicks from the budtender or apply rewards themselves when ordering online.
3. First-Time Customer Deals
Enticing new customers with a special offer on their first purchase is an excellent way to make a strong impression and convert curious shoppers into loyal patrons. A generous first-time deal can leave a lasting positive impact and encourage repeat visits.
Examples of First-Time Customer Deals:
- Percentage Discount: Offer a significant discount on their entire first purchase. Example: 20% off the first purchase.
- Free Product with Purchase: Provide a free product with their first purchase. Example: A penny pre-roll or edible with first purchase.
- Goodie Bag: Create a discounted bundle of popular products specifically for first-time customers. Example: A curated selection of edibles, pre-rolls, and small accessories at a reduced price.
Tips for First-Time Customer Deals:
- Highlight the Deal: Promote the first-time customer deal prominently on your website, social media, and in-store to ensure it's easily noticed. Utilize platforms like Weedmaps for advertising these deals effectively.
- Create a Memorable Experience: Ensure the first purchase experience is smooth and enjoyable. Consider offering a store tour and personalized recommendations to leave a lasting positive impression that encourages repeat visits.
- Collect Customer Information: Use the first-time deal as an opportunity to gather customer information for future marketing efforts. Collect email addresses or phone numbers for loyalty programs and personalized promotions.
- With Meadow POS, you can easily fill in these fields at check-in or require some of them for first time profiles to ensure you’re capturing important details that can make your marketing efforts simple.
4. Referral Programs
Encourage your existing customers to bring in new business with a referral program. Offer both the referrer and the new customer a discount or a free product. Word-of-mouth is incredibly powerful, especially in the cannabis community.
Here are some suggestions to create a Referral Deal:
- Mutual Discount: Offer a 20% discount to both the referrer and the referred customer on their next purchase. This deal incentivizes current customers to bring in friends while providing a great first-time discount to new customers.
- Exclusive Product Gift: Provide an exclusive penny product, such as a pre-roll or edible, to both the referrer and the referred customer upon the new customer's first purchase. This adds a unique value to the referral program and creates excitement around trying new products.
Tips for Referral Programs:
- Promote the Program: Regularly advertise your referral program through multiple channels, including social media, email newsletters, and in-store signage, to ensure customers are aware of the opportunity. Additionally, have budtenders inform customers about the referral program during their purchase, highlighting the benefits and how they can participate.
- Provide Printed Cards: Offering current customers a physical copy of the referral promotion, such as printed cards or informational flyers, can remind them of your referral deal. These flyers should outline the referral deal and include essential shop information, such as phone number, address, and website, making it easy for customers to share with friends and family.
- Simplify the Process: Make it easy for customers to refer friends by providing simple referral links, codes, or in-store forms. A seamless process increases participation.
- With Meadow POS, you can easily track your referral deals with our robust reporting suite. Create a referral discount and track how often your customers are bringing in new business.
5. Holiday Promotions
Capitalize on holidays and cannabis-specific events like 4/20 and 7/10 with special promotions. Limited-time offers, themed products, and festive discounts can drive significant traffic to your dispensary.
Most Common Holiday Deals for Dispensaries:
- 4/20 (April 20): Major discounts, special bundles, and exclusive products to celebrate the unofficial cannabis holiday globally recognized by enthusiasts.
- 7/10 (July 10): Deals on wax, shatter, and other concentrates, along with special events for "Dab Day," focusing on cannabis concentrates.
- Green Wednesday (Day before Thanksgiving): Pre-holiday discounts and promotions to boost sales.
- Black Friday (Day after Thanksgiving): Doorbuster deals, significant discounts, and flash sales to kick off the holiday shopping season.
- Cyber Monday (Monday after Thanksgiving): Exclusive online-only discounts and promotions to capitalize on online shopping.
- New Year's Eve/Day (December 31/January 1): Special promotions on party-friendly products like edibles, pre-rolls, and beverages to celebrate the new year.
- Valentine's Day (February 14): Deals on romantic or self-care products such as infused chocolates, bath bombs, and wellness items.
- St. Patrick's Day (March 17): Themed promotions like "pot of gold" deals on select products and festive green bundles.
- Halloween (October 31): Spooky-themed products and events, along with discounts on edibles, especially sweets.
- Christmas/Holiday Season (December): Holiday gift sets, stocking stuffers, and special discounts throughout December to cater to holiday shoppers and festive celebrations.
Tips for Holiday Promotions in Your Cannabis Dispensary:
- Plan Ahead: Start planning your holiday promotions well in advance to ensure you have enough time to organize inventory, marketing materials, and staffing needs. Download or create your own holiday calendar to assist in planning.
- Email & Text Marketing: Send targeted campaigns to your customer list with exclusive holiday deals, product recommendations, and gift guides to drive traffic to your dispensary. Offer customers early access to holiday deals based on receiving the marketing message to create a sense of exclusivity.
- Track Performance: Monitor the performance of your holiday promotions to understand what works best. Gather data and feedback to improve future campaigns and adjust strategies as needed.
- With Meadow POS, utilize our analytics software to refer back to previous sales day data to gauge how busy your dispensary will be based, how much staff is required, and what products performed well based on historical sales data.
6. Customer Appreciation Day
Customer Appreciation Day is a recurring event designed to show gratitude to your loyal customers while creating a sense of community and excitement. Held on the same day every month, it turns into a highly anticipated event that customers look forward to, essentially becoming your own holiday.
Suggestions for Customer Appreciation Day:
- Consistent Scheduling: Hold Customer Appreciation Day on the same day every month to build customer anticipation and ensure consistent turnout, for example, the first Friday of the month.
- Store-Wide Deals: Offer special store-wide deals and discounts to reward your customers and boost sales.
- Offer a Referral Deal: Customer Appreciation Day is a great opportunity for referral deals because it occurs on the same day each month, allowing customers to plan ahead. Encourage customers to bring a friend, and both the referrer and the referred friend will receive a special discount or free product, creating excitement and rewarding loyalty.
Tips for Implementing Customer Appreciation Day:
- Maintain Consistency: Ensure the event occurs regularly on the scheduled day each month to build a reliable event that customers can plan for.
- Daily Deal Integration: Decide whether to skip or honor overlapping deals, such as daily deals, to maintain clarity and maximize promotions.
- Advance Promotion: Create a dedicated webpage or printed flyer outlining all the deals and distribute or promote it at least a week in advance to generate excitement and awareness.
- Partnered Brand Deals: Reach out to your partnered brands to create exclusive deals that will be reimbursed on your next invoice, such as a percentage off specific products. Request promotional products to offer BOGO deals or gifts with purchase with a new purchase order.
- With Meadow POS, tracking reimbursements and creating sales reports is simple, allowing you to efficiently manage promotions and assess their impact. This streamlined process helps ensure that your deals are both effective and profitable, giving you more time to focus on enhancing customer satisfaction and growing your business.
Implementing effective promotions is crucial for standing out in the competitive cannabis market. By offering a variety of deals—such as daily discounts, loyalty programs, first-time customer offers, and engaging referral and holiday promotions—you can attract new customers and build a loyal customer base.
However, it's essential to monitor and maintain your profit margins while offering these deals. With Meadow POS, you can easily track the success of your promotions, manage reimbursements, and automate deals, enabling you to set them and forget them. This automation frees you to focus on enhancing customer satisfaction and growing your business.
Start planning your next promotional strategy today with Meadow POS and watch your customer base thrive. With the right approach, you'll see increased foot traffic, higher sales, and a stronger, more loyal customer community.
