Over time, the landscape has become more crowded. This means that instead of seeing a high click-thru rate (CTR) and a low cost per acquisition (CPA) as we saw initially when we launched this product, we saw the returns diminishing and the costs rising.
Thanks to our PPC master, who spotted the subtle shifts, we were able to change up our campaigns to ensure they remain as effective as possible, and we were able to do it quickly. That’s just not something you can do with traditional marketing—unless you’re willing to take heavy losses and outright cancel marketing campaigns.
In addition, because digital marketing is a cost-effective option, it’s easier to diversify your marketing efforts. So while we saw a shift on the PPC side, our SEO game was still going strong and pulling in qualified leads. Plus, with our use of SMS and geo-ads (aka mobile ads), we were able to actually expand our reach and build better relationships with existing customers.
Digital marketing, like agile marketing, is adaptable, and for dispensaries, this is a big plus. In an industry that’s prone to shifting regulations thanks to overzealous reporting agencies and federal prohibition, being able to invest in a marketing solution that evolves with your business is crucial for gaining a foothold in a growing market. Plus, with the current Coronavirus situation, things are changing daily. Being able to adjust is critical for maximizing the effectiveness of marketing dollars.
So what makes digital marketing like agile marketing? Here are our thoughts—and why we think every dispensary should be utilizing it.
Digital Marketing is Efficient
If you put up a billboard touting how great your dispensary is, you’re essentially just shouting in a crowd. There’s no guarantee that your target audience is going to see it.
On the other hand, with digital marketing, you can create customer segments that reflect your various target audiences and then create campaigns to specifically reach those individuals. You’re not wasting money on a marketing platform that may or may not work—you’re investing your dollars into a strategy that is iterative and flexible. You can make changes quickly based on your latest data. No need to stick to a plan when it isn’t working—change things up to get the results you want. If your goals change or if the effectiveness of campaigns change, it’s easy to shift gears and try something else.
Digital Marketing is Measurable
Because digital marketing is measurable, we were able to identify when our ROI changed and switch things up. By tracking particular KPIs, we can identify the ROI of our campaigns—something that you can’t really do with traditional marketing methods.
Plus, because digital marketing is measurable, it’s easier to determine what will happen if you increase or reduce your investment. Basically, it gives you back control over your marketing.
Being able to track particular indicators also allows you to run A/B tests so you can determine the best way to position your dispensary ad campaigns.
Rather than hoping that your billboard or ad is going to draw in some foot traffic, you can check on how much your web traffic has grown, what visitors do when they get to your site, and whether your online orders have increased as a result. With this info in hand, you can make the right changes to see an even greater return.
Digital Marketing is Effective
The best thing about digital marketing, though, is that it works.
Yes, sometimes you’ll need to tweak things, and you’ll want to monitor your campaigns, but in the long run, digital marketing can be the most cost-effective way to build brand awareness and trust, gain new customers, and increase customer engagement. It’s a great way to diversify your marketing strategy in order to increase your reach.
Plus, because of current cannabis advertising regulations, digital marketing remains the best avenue for getting the word out about your dispensary and increasing your revenue.
What makes digital marketing even more like agile marketing? Having a skilled team doing all the heavy lifting. At MediaJel, we can help you use the most effective digital marketing tools to increase your revenue. Give us a call today to learn more.