A Brand Identity You Can Grow
A brand identity is a crucial part of a successful marketing plan. Before deciding how to market and who to market to, you first need to develop a brand to market.
A unique, confident, and memorable brand identity can set your dispensary apart from the competition. A brand identity should consider what your brand says, what your brand’s values are, and what you want people to feel or think when they interact with your brand.
Customer Data and Information
Before you can begin to think about how to market to potential customers, you need to consider who those customers actually are.
Long gone is the stereotype of the typical stoner. Nowadays, cannabis appeals to multiple different demographics. Using segmentation to create customer personas is one way to better understand the customers that frequent your dispensary.
Some examples of customer personas that are common to most dispensaries include medical cannabis consumers, younger cannabis consumers, seniors, and older adults, and health-conscious cannabis consumers. Segmenting your customers into categories will make targeting and personal marketing much easier.
Once you understand your customers, you can get a better idea of what motivates them to spend, what they like to spend on, what they’re interested in, and how best to communicate your marketing messages to them and people like them (potential customers).
Your Marketing Strategies
After you have identified your target customers, you should begin to think about which strategies you want to use to communicate with them. There are many digital marketing strategies to choose from, however, there are a few which have shown to be particularly effective for cannabis dispensaries.
Strategies like search engine optimization (SEO), email marketing and SMS marketing, social media marketing, and dispensary loyalty programs can help dispensaries attract new customers and build their brands, even in regions that have restrictive cannabis marketing laws.
Email marketing and SMS marketing have proven to be effective in helping dispensaries keep in touch with customers and subscribers, turning them into repeat customers.
According to HubSpot, nearly 60% of marketers say that email marketing is their biggest source of ROI (return on investment). SMS marketing may be even more profitable for dispensaries. Over 98% of SMS messages are opened and SMS messages are believed to have a response rate that is nearly 200% higher than emails.
Additionally, dispensary loyalty programs have shown to be especially effective at keeping customers coming back. Strategies like customer segmentation, email marketing and SMS marketing, and social media marketing can all come together to support your dispensary loyalty program.
The Marketing Funnel & Your Dispensary Marketing Plan
Consider what the marketing funnel for your dispensary looks like and where along the funnel each different strategy can work to capture or directs leads. Different goals, different customers, and different kinds of content and promotions will need to exist at each different level of the funnel. Take some time to sketch out your marketing funnel in order to identify where different strategies will be needed and where they can be integrated to work together towards a common goal.
Once you have these components in place, it’s time to measure the effectiveness of your strategy. Revenue attribution is key for making sure that your efforts are paying off. Make sure you’re using an online menu that allows for tracking and tools like Google Analytics and Ahrefs to monitor your web traffic and sales.