Customer retention should be a pillar of your business model in the cannabis retail space. It is more cost effective to grow and maintain a relationship with an existing customer than to acquire new ones. Investing in smarter cannabis marketing strategies today will generate sales tomorrow. As soon as a customer enters your store, new or returning, Meadow will provide all the tools you’ll need to help you understand why they came in, what they purchased, and how to win them back. All of that data, which is private to your store, can be used to drive repeat purchases, larger basket sizes, and increase lifetime customer value. How can your store manager keep that marketing cost down? It’s easy with Meadow’s all-in-one system.
Dispensaries need tools to select which customers they want to talk to in order to send relevant messages and promotions
“Marketing is not one-size-fits-all, especially in cannabis" David Hua, CEO and co-founder of Meadow, said in a released statement. “Let brand-loyal customers know when their favorite brands release new strains, products, blends or flavors. Tell customers about new hours or delivery and pick-up options. Send reengagement offers to customers who have dropped off. Let members of your loyalty program know when they have points to cash in and include their point balance. Tip-off VIPs when a limited-edition strain becomes available and give them first dibs. This is the level of delight and sophistication that has been missing from cannabis marketing, and we’re very excited to debut it to dispensaries across California.” Read the Article in TechCrunch
When you use Meadow’s Marketing platform, you have access to a wide range of tools that can be used to contact your existing customers. Meadow offers the ability to segment your customer base through hundreds of combinations of conditions, or easily send a text message to every customer who has opted in. There are benefits of both, but sending a message to all customers will cost you the most. If you need to be conscious of your marketing budget, let’s discuss the most successful ways to spend the least at campaign level for the greatest return. Put your customer data to work and take the guessing out of your marketing strategies with the following tips:
5 smart ways you can segment your customer base using Meadow’s cannabis marketing tool:
- Send a message to customers who have ordered more than once or twice: Avoid the tourists who stopped by once to reduce the cost of your campaign. Remove the customers who came by but didn’t purchase to really focus on those who have committed to purchasing at your retail store.
- Celebrate your VIP customers with a special deal: How do you define VIP? Do you already have a customer group at your store? Do VIPs spend an average of $200? Have they visited more than 10 times? It’s entirely up to you, but Meadow can help you target those customers by setting those conditions to “Matching Any” or “Matching All.” Every example there can be easily coordinated using Meadow’s text marketing tool. Read more about Meadow's Dispensary Loyalty Program.
- Announce a new product drop: The last thing you want to do is waste money by promoting a cartridge deal to those who only shop for flower! Target customers who have purchased from a category, a brand, or even a specific product from your inventory with a promotion that they’re actually interested in.
- Send a message to only Veterans on Veterans day for special deals: If you have a promotion tied to a typical customer group, like Veterans, contact them directly instead of all customers to keep costs down and thank only veterans for their service.
- If you don’t see a condition that works for you, create your own! Meadow’s reports are robust with information — and all that you need is the customer ID. For example, download the Customer Export or Orders report from Meadow Admin, filter down to exactly who you want to target. Copy and paste a unique list of customer IDs into a campaign. Send away! This only takes a few clicks and we know our partners can be very creative with their promotions.
The best canabis marketing is personalized
The options for targeting are endless, and your marketing team can contact many customers in a matter of minutes. Consider using additional features in the Meadow Marketing tool belt to personalize your campaign:
- Loyalty Point Balance: Send a personalized, exact loyalty point balance update to the customer who receives the text. By inserting this variable, all customers in the campaign will be updated with how many loyalty points they have. You can even segment the campaign based on loyalty point balances to only reach customers who have enough to redeem, or almost enough to remind them to come in and shop to accrue more. If you've spent the time developing a dispensary loyalty program, be sure to advertise it! Read more about Meadow's Dispensary Loyalty Program.
- ROI & Promo Codes: Insert a unique promo code only associated with your marketing campaign. By inserting this variable, not only will you see 1-7 day revenue, but you can also track promo revenue. The sales this unique promo code is included on will be contributed to a trackable ROI from sending this campaign.
- Digital Flyers: It’s no secret that carriers are not a fan of cannabis text marketing. With the Digital Flyer feature included in Meadow’s text marketing platform, you have the ability to include a private link in your campaign that a customer can open. Once opened, a PIN will auto-fill, and a message will be revealed that can include as much cannabis terminology you’d like. This work around allows cannabis businesses to say what they need to say to drive sales, without being filtered by carriers.
Then, review performance with analytics: Every campaign can be tracked in the Marketing tab of Meadow Admin. See how many people received the text then shopped at your store. Monitor opt-outs and adjust your marketing strategy accordingly. Compare successful campaigns to those that need more work to grow your marketing strategies.
It’s so important to maintain that returning customer and continue to build your relationship. They should be rewarded for being loyal to your store. There’s a reason they’re coming back. If it’s your product, remind them it’s back in stock. If it’s your customer service, provide informational updates so they can know when changes are coming. Customers appreciate being in the know so their routines aren’t affected. Now that you have the opportunity to talk directly to your customers, you can bring in more revenue, and give them more information on what’s happening. Meadow will support you with promo codes, automated discounts, loyalty rewards; just a few clicks away.
Learn more about cannnabis marketing with Meadow.