Fight Dispensary Shopping Cart Abandonment with Win-Back Campaigns

[ morning or good afternoon if you're joining us from the east coast i want to take a moment to thank you once again for taking the time to join us today uh for yet another one of these uh series of webinars that we love to host for you today's webinar we're going to be talking about something that is near and dear to every dispensary or delivery service out there stop letting money slip away fight cart abandonment with win back campaigns and use these tactics to get customers back shopping with you in our agenda for today we're going to be covering why dispensary shopping cart abandonment is so detrimental to your business the reasons your potential customers are jumping ship at checkout how to get started with win back campaigns that will let you recapture that lost revenue quick introduction on myself your host for today my name is eduardo silva i have 18 years of sales and marketing experience have been part of the cannabis industry for the last five years and i'm super excited for the opportunity to share everything that i have learned with my peers in this industry foot traffic is a digital advertising agency with over five years experience laser focused in cannabis we do not work outside of the cannabis space this is our bread and butter super excited to be partnering so many clients out there to help them succeed in reaching those clients of theirs take a quick moment to just prepare ourselves for today's webinar uh we love mobile phones it is in many ways the way we live and die by in digital advertising however for the duration of this webinar which is only an additional 26 28 minutes or so i ask you to put those cell phones facing down on your desk as we're going to be covering quite a lot of content take a moment to familiarize yourself with the zoom interface if you are not familiar with the zoom interface for webinars there is a q a button at the bottom of the screen we do have panelists live here that can address any questions you have immediately we will have a q a function as well at the end of the webinar however if something pops into your mind during the webinar we ask you to go ahead and engage with us via the q a function and then finally do make sure to stick around we do have a special offer for those who are attending the webinar today and we're going to be sharing those with you at the end of the webinar and it's going to make a lot more sense after you hear this content so let's dive on in e-commerce is a huge part of dispensary retail operations if it wasn't clear how important having a user-friendly online menu is pre-coveted the pandemic has definitely driven home the value of e-commerce operations for dispensaries and delivery services unlike in-store shopping though e-commerce is plagued with abandoned carts we're all guilty of it it's like window shopping but online right you start adding some new threads to your online cart and then at some point you just close out your with your browser window maybe you change your mind or maybe you got distracted by something else whatever the case may be it's extremely widespread and it affects traditional retailers and dispensary alikes ultimately for dispensaries most in-store shoppers are going to buy something but not all online shoppers will convert across all retail it's estimated that 70 of online carts are abandoned i actually wanted to ask for the audience to try to guess how much money is left on the table because of those abandoned carts but honestly the figures so high i'm just going to share it with you it's 18 billion dollars every year now that's across all online retail and not just cannabis industry but imagine how much more revenue you could be generating if you could just reduce your abandoned cart rate here's the thing those people that are abandoning their carts they already know about you they know what you sell and they're obviously interested so what's stopping them from getting across the finish line we know they want what you have we just need to get them to complete the checkout process so let's talk about why people jump ship and then we'll cover what you can do to reduce the bounce rate now there are some things you don't have any control over so i want to get those out of the way right up front first up quantity limits one reason that people abandon their carts is because they're trying to purchase more than what is legally allowed and they get frustrated of course you can't control purchase limits that's up to the regulatory agency however you can make it clear on your menu or website what the purchase limits are to help curb some of that frustration provide that info in an easy to understand way and you will help people understand that you're just following the rules and trying to help them the second thing you can't control is our need to comparison shop the internet has made this so much easier there's no driving around to see who has the best price on carts or buds a few clicks and you check dispensary menus for all of the nearby shops to see what's on sale and where you can get it for the best deal again this is something that we all do and it's in most cases there's not much you can do about this behavior it's kind of the nature of the internet beast but while you can't stop people from comparison shopping you can make it more likely that people will choose you for starters you can offer deals based on your customers purchasing data when you have deals they want you're going to end up the winner in the comparison shopping mall you can also entice people to shop with you through your loyalty program people love getting rewards if you maximize your loyalty program by offering them the deals and rewards that keep them coming back then they're going to ignore the competition you can also strive to create the best shopping experience both in store and online if people feel that they prefer to shop your store because of how they are treated or because of the points they earn they may be willing to forego the comparison shopping or even pay a little more more for that great experience i know we don't like thinking about things that we can't control but guess what while we can't control some of these behaviors we can strive to limit them let's talk about the things you can control okay so let's say you're adding things to your cart you have a blueberry vape some wax and some blue dream you go to your cart to check out and you're prompted with a login or create an account you're on your cell and you don't want to deal with it so that's it you jump ship seems silly but plenty of people will abandon a cart because they don't want to create a login now sometimes this is required by your menu provider if you want to make it easier you can allow people to use their google or facebook logins to create an account if you're able to you can also let people check out as a guest again this all depends on your e-commerce provider so check in with them to learn more about your options in addition to creating a login sometimes the checkout process is just too long or like it or not attention spans are short when there are too many roadblocks to a successful checkout many shoppers simply give up and turn their attention elsewhere if you're able you need to streamline your checkout process to create a free to to create a as few roadblocks as possible are you requiring that people send in a copy of their medical card or id and then wait for confirmation are you requiring them to enter in a ton of information that makes your job easier but it is a hassle for them take a look at your checkout process and think of yourself as a first-time customer what stands out is anything confusing are there too many steps where can you streamline that process or provide additional assistance so that the checkout process itself doesn't create a scare for people okay you've made it through the checkout process you're at the final screen and bam here comes the taxes if you're are including taxes throughout the shopping experience or bundling them with your product price then you're going to have people ditching their cart because of sticker shock tax rates vary depending on where you are so this may not be a big deal or a concern in some areas but if your taxes are very high you need to make those costs clear for the beginning so people don't abandon you at the end of the process it's a it's as easy as saying we always include taxes in our prices so there are no surprises during checkout trust me your customers will appreciate the message have you gotten really excited about an item online put it in your cart and then abandon your cart because the checkout look weird or took way too long to load ecommerce is supposed to be fast and easy if your site doesn't look good on mobile if it loads slowly or if it's just a plain and simple hard to navigate people are going to bounce they have other options why should they shop with you if you aren't making it easy for them and here's the kicker if you're suffering from cart abandonment because of these issues they're very simple fixes there's no reason that lack of user friendliness should cost you your sales if it is you need to deal with that immediately once you leave this webinar we can certainly help you with that as well we have built countless websites for clients and gotten them connected with quality menus that's easy to use plus both of them will look great on mobile which is as we both know very crucial for many online sales in addition to being mobile responsive your website should have clear navigation and compelling call to action so that visitors know how to shop with you you should be easy uh making it easy for yourself as well as the client and answering some questions as you take a look at your checkout process or website is it easy to use is it easy to understand if the answer is not very concise yes then you need to jump into the problem solving mode and determine how you can make it more user friendly for your customers providing a better website experience can reduce card abandonment increase conversion and potentially provide you an seo boost when done correctly that last one will help you get even more customers which is additional incentive in and of itself so let's say you tackle those challenges but you're still dealing with some card abandonment again you can't control everything but you can take steps to win back some of those potential customers that's what a win-back campaign is all about basically you want to reach back out to people who have a bend in the cart and get them to convert into a sale these type of campaigns generally have a higher spend efficiency than campaigns targeting new customers because you're already actively marketing to people who have shown an interest in your dispensary you don't need to convince them that they should check you out you already done that you just have to woo them to make it past the finish line and get started buying from you sometimes these types of campaigns use a special deal to get people to complete the checkout process like 10 off everything in your cart if they purchase within a certain time period or they may be fear-based and tell you that things are going to sell out so they need to complete the purchase fast other times they just serve as a reminder for what they're missing out on and let's be honest because of fomo sometimes that's the strongest incentive for making that purchase one simple way to create a win back campaign to fight back against shopping cart abandonment is with retargeting so let's talk about that you've probably heard of the term retargeting before and there's no doubt that you yourself have been part of a retargeting campaign you know when you are shopping with someone perhaps you're shopping for some nike and then you decide not to buy those shoes and a day or two later you're checking facebook and surprise there's an ad for nike they've retargeted you they put a pixel or a cookie on your device so that they can serve you ads based on what you did on their website it's one of the most effective tools you can use to reach customers who are on the brink of abandonment with their shopping cart simply put retargeting refers to the practice of reaching out to consumers who have interacted with your brand before it involves the use of a simple javascript code called cookie or a pixel to track the customers after they leave your website that pixel is an online code that tracks the websites a user visits and their behavior to determine interest as well as other demographic and psychographic variables depending on the type of campaign you want to run this is the data that will be used to determine who will see your ads so basically you can re-target the individuals who got you a certain point in the checkout process but who didn't complete the process altogether your ads will serve as a simple reminder that they left something behind and that they should check it out it's not overbearing or annoying it's just a simple nudge to get them back to your website you can even use retargeting to interact with customers who've only browsed your menu and never made it into the checkout process because they're already familiar with your products chances of closing a sales greatly increase compared with consumers who have never interacted with your brand before having these ads pop up provides multiple points of contact to have the bonus effect of strengthening your brand awareness in addition to reducing cart abandonment but how do you know these ads are actually working it's not okay to just run a campaign and hope that you get more sales from it if you want to have the most effective campaign possible then you need to measure what's happening if you measure it you can manage it we offer real-time reporting on all of our display ads so you always know how well your campaigns are performing after all it's your investment ultimately we want to help you make the most of your investment so we pay attention to the following metrics we track impressions so we can see how many times people have senior ads we track clicks to determine whether the cultural action is enticing and whether the graphics are getting people's attention by dividing your clicks by your impressions and then multiplying that number by a hundred you get your click-through rate which is the percentage of ads that are getting clicked on with google analytics we can see how long people then spend on your website where they go and whether they finish their purchase we track how many orders your display ads generate and the revenue from these orders by dividing your revenue by the amount you invested in display ads you get your return on ad spend this is a big one because we want to be sure that you're getting the highest possible return on your investment these metrics help you paint a picture of how well your campaigns are performing and they help highlight opportunities by consistently tracking these metrics you can determine the effectiveness of your campaign and pinpoint areas of improvement if you want to optimize your campaigns you want to try different strategies and test which works best for your goals which in this case is completed purchases with your metrics in hand you can spot opportunities for example maybe you have a low click-through rate you can use a b testing to create a run and run alternative campaigns featuring different graphics and different cultural actions you can test discount sensitivity for specific audience groups like age and gender by isolating just one factor to change you can measure its impact and continue to make adjustments to improve your overall results unfortunately not every dispensary has the marketing budget or team to do this but thankfully when you work with foot traffic you get the benefit of our experience because we have run thousands of campaigns across all of north america we're able to optimize ads for your for our clients and get them larger market share much much faster and the best part is that you get the reporting no empty promises here you will receive real-time reporting that shows how effective your campaigns are if we spy opportunities we'll let you know if we identify problems we'll troubleshoot them and keep you in the loop our goal is to maximize your marketing budget so that you see the greatest return win back campaigns via display ads are just one way to retarget abandonment cards if you have the right tech stack and have everything set up then you can also target individuals via email or text in order to do this though you need to already have this information that means they need to be in your crm or your loyalty program and to avoid huge fines they also need to be opted into marketing otherwise they can sue you if you have a lot of first-time customers with abandoned carts chances are they won't be opted in to your marketing so you likely won't be able to email or sms win back campaigns to get them to complete their purchases in addition i'm sure plenty of you have noticed that cell phone companies are cracking down more on text sent by cannabis companies now than ever if you want to avoid these risks and compliant and stay compliant cannabis friendly display ads within our network is the way to go display ads have a lot going for them and just to mention one of the big pain points that works in your favor they are compliant compliance is crucial for protecting your business and in more places these type of ads meet all regulatory requirements there it there is a state or two that restricts mobile ads but most allow them as long as you follow particular rules like sharing your license number or only advertising to an of age audience you don't have to worry about the red tape because we do all of the heavy lifting for you we know that compliance is crucial for protecting your dispensary and we strive to support our clients by ensuring that everything we do for them abides by the highest standards as well as the standards of the regulating agencies when you work with foot traffic you can take advantage of our programmatic advertising network of cannabis friendly websites and apps we know that the audience for these sites and apps are 21 and up which again ties back to compliance but there are also sites that your audience loves which is important for reaching the right people we will create the graphics for you and ad copy no need to hire graphics designer copywriter we do it all in house for you and basically we're an extension of your marketing team plus we always send you a draft so you can make sure that everything we do abides by your brand's guidelines win back campaigns can be used beyond card abandonment for example you can target individuals who never even made it to your menu but who spent a lot of time on your website or you can re-target individuals who haven't been to your site in a while maybe they use to shop with you regularly but they haven't placed an order in a few weeks by targeting labs customers with ads you can stay top of mind so that when they are ready to buy again they will turn to you and not your competitor you can use display ads for more than just win back campaigns though they're excellent for building brand awareness and for getting new customers the ability to target based on location demographics and behaviors make them ideal for targeting competitors getting people who are nearby to stop into your store and serving ads to your delivery zone because display ads can be geo-targeted they are super effective in sharing your message with the right people at the right time this is crucial for securing a high conversion rate and seeing the impact on your revenue when you use targeting properly your ads can be up to five times more effective than non-targeted ads targeting really helps you get the perfect messaging in front of the people who are ready to shop with you they're already primed to buy cannabis and by having your ad show up right at that moment they're more likely to shop with you than the competition so whether you want to focus on abandonment carts or more general campaigns display ads can help you maximize your digital marketing budget and connect you with the customers that matter the most i'm so happy you decided to join us today and to make this time worth your while we're running a special deal starting today and just for the attendees of this webinar from now until may 6 we are offering 50 50 off your first month of display ad campaigns when you sign up for a three month pilot i'm excited for you to actually try these because the results of the campaigns are undeniable so schedule a call with me at foot traffic dot me forward slash call to take advantage of this deal and we'll put that in the chat window here for you and let me tell you a little bit more about what you can expect when you partner with us to run your display ads will create your ads for you and send them to you for review then it will be show time we'll have them running to your customers favorite websites and apps plus will provide easy to read live reporting so you can monitor your campaign's progress in real time at the same time because we want to deliver great results we will also be monitoring the progress to make changes as necessary so we can get you the maximum bang for your buck we've run thousands of campaigns and we use the knowledge we've gained from those to better optimize each and every campaign that we run i really want to get you set up with these ads because i have so many potential use cases that i can share with you you don't just have to use them for win-back campaigns you can target your delivery zones you can target specific neighborhoods you can even target new customers or the competitors shoppers let's get a call scheduled so we can launch these for you very fast and you can start seeing the increasing revenue right away this deal once again is only good until may 6 so go to foot traffic dot me for slash call just schedule a call with me let's go ahead and turn over for questions from our audience i want to thank you once again for taking the time to attend the webinar and once again we do have a q a function here so ask away simple question but very important one thank you so much for this one so how long does it take to get one of these campaigns running so we can launch an ad campaign within two weeks that includes getting the graphics together as long as you have access to things like copy of your logo um and you can also provide us feedback on the content creative to make sure that it does fall within your brand guidelines that you can provide us we can make that process even faster normally the process can be a little slower if we don't have access to all of the content that we need including active response to some of the areas that we need your feedback on because after all we don't want to run any campaigns without you giving us the green light first another great question here how long does it take to start seeing results from these ads great question um in most instances uh display ads is as early as the first 30 days i mean you're gonna start seeing results right away right however the optimum results is going to be within 30 to 90 days right so the more you're running these ads the more impressions the more times you show up for your clients the more likely they are to actually remember you and click on that call to action right so the the goal here is to drive as much face time with those clients as possible the more face time you do the better the chances are and therefore that window of time usually is between that 30 to 90 day window i would say plan for a 90 day campaign and you're not going to be disappointed great questions once again thank you so much for taking the time out of your day to join us and i really look forward to talking to you very soon once again just please schedule a call with me let's get you set up and take advantage of this offer have a wonderful recipe ]