Smoke the Competition: Steal Their Customers with Targeted Dispensary Mobile Ads

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good morning and thank you for joining us for today's webinar we will be getting started here in just about 30 seconds allowing a couple more minutes for uh other attendees to log on we'll be right back thank you so much good morning once again thank you so much for joining us today we'll be getting underway here today's webinar is smoke the competition how to steal their customers with targeted mobile ads really really exciting topic usually a little bit of a challenging concept to understand at least how to do it correctly so we're going to be covering this today and i'm really really excited about it so drive traffic right to your store with targeted mobile ads for our agenda today we're going to be covering how to target the competition the strategies that will make you successful how to measure the effectiveness effectiveness of your campaign something that here foot traffic we take it very very seriously a little bit about myself my name is eduardo silva i'll be your host for today i have 18 years in marketing and sales experience have been working out of the san francisco bay area for the last 23 years or so and i'm really really excited to be joining this industry a little bit of background here obviously culturally speaking a very long track record of being part of the industry if you will and very happy to be able to bring a lot of these skills that i have adopted along the way to help advance our customers a little bit about foot traffic for traffic is a digital marketing uh agency fully focused in the cannabis space we've been in business for over five years now and have been offering all sorts of digital marketing initiatives to help drive additional customer acquisition and revenue to dispensaries we started out of cert southern california and with the medicinal market and once recreational went legal we've been pushing the forefront of that industry as well so really really excited to be working in this industry and helping advance our customers so let's get ready uh here for our webinar today uh if you could take a quick moment and just mute your cell phones we're going to be covering a lot of content in a very small time window so that will help at least absorption of the content and then second of all if you could just familiarize yourself with the zoom interface there is a q a section at the top of the screen do take a moment to find that we do have panelists on staff here and standby ready to answer any questions throughout the webinar so we don't want you to delay or dwell on your questions just ask away and we'll be answering those throughout however we do have a moment here in the end as well we're going to be answering those questions live and do be sure to stick around we do have a special offer for the attendees today at the end of the webinar so once again really excited about having you here today really excited about the content so let's get on their way where do we start now if you are in an urban location it can be hard to break into the cannabis market there are plenty of competing dispensaries so building brand awareness is time consuming and difficult even in suburban dispensary regions there are actually a lot of new competition moving in so how can you start creating a customer base or driving additional traffic to your store with so many regulations about what you can and can't do and even limitations on the language you can use it may seem like it's impossible to create a plan that gets your brand in front of your customers thankfully there are plenty of compliant ways to reach potential customers especially when you implement digital strategies correctly your digital advertising strategy can play a huge role in whether potential customers find your store or whether they stick with your competition we are big advocates of integrated advertising strategies that uses targeted mobile banner ads google ads and local seo to find and advertise to people within your ideal audience they can be used together to create a comprehensive plan that reaches most people in your region even if you have a loyal customer base growing your pool of customers is crucial for increasing your revenue you will need to advertise to maintain relevancy and attract additional customers today we're focusing on mobile banner ads and competitor targeting but if you want to learn more about other advertising strategies be sure to check out our website once we're done here today foot traffic dot co and we'll be putting this link also in the chat window here so you can actually save that on your site so let's talk about what mobile banner ads are you have heard us talk about geo ads in the past these are also known as mobile banner ads they are display ads that only show up on mobile devices when your set parameters are met if you've been on your cell phone today browsing a mobile site or doing some sudoku in an app then you probably came across a few of them before you even had your first sip of coffee you can run your ads based on a variety of factors for example you can choose to run your display ads when your store is open and within a five mile radius of course there's a potential problem here how can you ensure that only people of age see your ads thankfully you can set age and behavioral parameters so only individuals who are old enough and who are interested in cannabis see your ads you are committed providing advertising and analytics services to dispensaries and marijuana delivery services so we've broken down the biggest marketing hurdle facing the cannabis industry which is compliant places to advertise stop worrying about where you can advertise and let us get your ads in front of your ideal customers right away our compliant display ad network includes over three thousand cannabis friendly mobile websites and apps our network lets you share targeted banner ads with people who are already interested in cannabis products meaning they have already been searching through the internet for cannabis products and guess what these banner ads are five times more likely to lead to a click which means more sales here's a case study of a medical marijuana dispensary based out in new york they invested five thousand dollars in mobile banner ads for the month of july and targeted competing dispensaries and known cannabis users their investment resulted in 184 visits to their dispensaries with an average order value of 170 which generated 31 000 in revenue with a return on ad spend of six dollars and 20 cents for every dollar spent when it comes to mobile banner ads getting it right means you need to target the right audience when using location based targeting for mobile ads you can choose where people will see your ads for example if you're located in los angeles you can draw a fence around culver city chinatown eco park hollywood and other nearby neighborhoods to encourage your target audience to shop with you the idea is simple right by choosing certain parameters you can make your ads more relevant to the people who see them and increase the likelihood of them buying from you but what if there's a dispensary just a few blocks away one that is right in the neighborhoods where your customers live this is where competitor targeting can keep you top of mind and help you siphon away the competitors business so why should you target the competition according to accenture a multinational fortune 500 consulting company people are now less likely to stick with a popular brand than they've ever been before 77 percent of people are now quicker to ditch their brand loyalty than they were three years ago that's three quarters of the population engage them on an emotional level and they will switch to you here's another surprising stat for you 61 of people have switched brands within the last year that's huge this means that two-thirds of the people have already shown they're willing to switch customers are fickle but if you play your cards right this can work in your favor ultimately your competition's customers are already interested in yours products what you're offering them which is cannabis in many places you're probably even selling the same exact brands as the competition when you target those customers you're targeting a highly relevant audience and providing them with an alternative you now that will cover the value of this practice let's talk about how to do it with mobile banner ads you can draw an outline around competitors competitors and dispensaries in your area when someone visits a site or app and they're in the store right that your competition is or the designated area they will see your ad picking where to target is the easy part though once you've done that you need to focus on what you will be showing your new potential customers in other words your display ad for any advertising push you want to ensure that you're building brand awareness so your logo should always appear on your display ads it will help you create brand recognition and if you're creating a good ad reflect positively on your dispensary but your logo isn't the only thing that should tie your brand and your ad together you should also make use of your brand style guide and incorporate your brand colors and your typography display ads are image based ads and you want to grab your customers attention at the same time you don't want to create an eyesore stick to three colors max only one or two of which can be bold for typography two fonts are okay but don't go overboard remember these will be read in a passing and on a small screen so you want to make it easy for potential customers to engage with your ad and of course what you say is also important your brand voice is crucial and it's a big part of your ad your copy should reflect how you engage with your customers and help begin a new relationship to make your campaign successful pair your ads with an incentive if you do your ad is more likely to be successful since you're giving potential customers something worth switching for if you want people to start shopping with you it's not enough to just say hey i exist i'm right here to get them to break out of their routine and shop with you instead you need to make it worth their while do you have an introductory offer or an ongoing deal that works well for introducing people to your dispensary if not it's time to start brainstorming whether you offer a percentage off for first-time buyers or two joints for five dollars having this will get customers to buy from you you also want to remove any barriers make it easy really really simple for them to shop with you for example if your delivery service is in la you can offer free delivery and highlight your fast turnaround times since the customers has have nothing to lose by trying out your service they're more likely to try to buy from you for the first time let's talk about the call to action for most banner ads your cta will be pretty simple order now if you are a medicinal dispensary that requires appointment you may use something like schedule your consultation now don't skip the call to action people are more likely to click on your ad if you have a compelling one you don't want to go through all of this trouble to just get a person to buy from you once you want to focus on converting these customers into your own loyal customers why because a dispensary customer can be worth over two thousand dollars a year one way to do this is to get them to sign up for your loyalty program by getting their email and phone number this way you can retain the customer and encourage them to buy from you on a regular basis they're opting into your marketing so that you can continue to send them your deals and specials having them as part of your list will encourage them to continue to shop with you you can even highlight your loyalty program as a call to action once your ads are live it's time to start measuring the return on ad spend revenue attribution is the act of determining which marketing efforts have led to sales with digital advertising you want to know that your money the money you are investing in your ads are resulting in sales and how much of those sales are attributed to each of your advertisement channels that way you can continue to invest in the strategies that bring you more money or those which have the highest return on ad spend in order to track the effectiveness of your marketing channels you need to have an e-commerce platform that allows you to access your sales data we've done past webinars on this so be sure to check out past webinars as well once again the link is in the chat window so feel free to copy that you should install google analytics enable e-commerce tracking and connect it to your online menu so you can start creating a picture of where your sales are coming from enabling e-commerce tracking lets you monitor how many new returning customers are visiting your site how they're finding you how many are purchasing from you and how much money they are spending this is so important and these metrics are vital for determining which marketing channels yield the highest return did a customer engage with your google ad and then click through your special landing page did they see your ad on espn's website did they search for a dispensary near them and then end up on your site all of this information helps you see how you're getting your sales so that you can then increase your spend on the channels that matter in order to implement revenue attribution you need to track two things the conversion and the sale a conversion is a desired action in digital marketing this is generally a click like clicking on a link on your menu from the conversion side we need to know what propelled the person to make the purchase basically what is the touch point that made them convert into a sale sometimes there isn't enough touch points there are several maybe the client searched on google clicked your link and dug around your website but left then another day they saw your google ad clicked it and made a purchase you need to know this behavior this will really help you understand your consumer and improve how they purchase from you in the future from the sales side we need to know how much money they spent on their purchase all of this information will go into revenue attribution as a model when you sync google's tracking with your e-commerce you can see the source of your web traffic their conversion rate and the number of transactions from that source you can also see the total revenue that can be attributed to a specific source as well as the average customer spend and as long as you have the right platforms in place foot traffic is happy to set this up for you we have experience doing this for all cannabis ecommerce platforms plus when you use foot traffic's mobile banner ads platform we can also track in-store sales that are attributed to our campaigns now you probably heard of roi return on investment we've certainly talked about it until i'm blue in the face however more recently we've begun to move towards a return on ad spend or roas why this is more accurate it paints a better picture of campaign success he strips away all of the other variables that goes into roi calculation return on ad spend is how much you earn in revenue for every dollar you spend in advertising return on ad spend is only concerned with the cost of ad campaign and not other additional marketing costs or cost of goods sold that should be considered in the roi calculations basically if you want to determine which of your ad campaigns is working best for you this is the metric you want to use to measure your return on ad spend you simply divide the revenue that came from a specific marketing channel by the channel's ad spend so if you want to get a simple example here if you made one hundred thousand dollars thanks to your five thousand dollar mobile banner ads campaign your return on ad spend is twenty dollars for every dollar spent it's super simple the whole goal of marketing is to generate revenue but you won't know if you're succeeding unless you're tracking and measuring your campaigns i've spoken with countless dispensary owners and most are not tracking this this is a standard in other industries and we need to make it a standard in our industry as well there's no specific successful roas but in general if you're making four dollars for every dollar spent that's considered good once you have your roas the goal is to increase it we all want more value for our dollar right so how can you go about doing this i mentioned before that you need to have google analytics installed and e-commerce tracking enabled this will let you see how many impressions and clicks you're getting depending on your e-commerce platform this may take some extra steps to set up but foot traffic is happy to assist once you have this this up and running you can use the different data you collect to determine which of your campaigns is scoring most clicks which is generating the most revenue and which are getting the most impressions you can then begin to optimize your campaigns to improve your roas for example let's say that one of your campaigns is getting massive impressions but not many people are clicking through by comparing it to another campaign that's getting more clicks you can identify how to improve your results maybe you need to whittle down your audience so it's better targeted or maybe the copy isn't compelling enough by changing your call to action you will increase your clicks running different campaigns can really help you identify both problems in areas of opportunity unfortunately not every dispensary has the marketing budget or the team to do this and thankfully when you work with foot traffic you get the benefit of our expertise because we have run thousands of campaigns across north america we're able to optimize your ads quickly and get larger market share faster and the best part of it is that you get the reporting so there's no empty promises you will receive monthly reports that show how effective your campaigns are if we spy opportunities we'll let you know and 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 returns here we have a case study for a medical dispensary based out of minnesota for this client we targeted competing dispensaries and known cannabis users they invested 3 500 in mobile banner ads over the course of the month of july the investment resulted in 121 visits to their dispensary with an average order value of 242 dollars this generated 29 k in revenue with a return on ad spend of eight dollars and 36 cents now i should add that the longer you run banner ads the better off you will be in the beginning normally you see a lower return because people are still becoming more familiar with your brand so for this client the possibilities are only growing the return on ad spend is only increasing from here so if you want to get the most out of your marketing budget increase your market share then you need to implement a tested strategy with foot traffic that includes revenue attribution our mobile banner ad service will help you steal customers from your competitors build brand awareness and increase your sales with compliant advertisement for cannabis and best of all we do it all for you so skip the learning curve and put your sales on the fast track we want to help you set up a targeted mobile banner ad so you can actually steer your business in the right direction and start seeing the return we're offering a special deal for first-time clients normally the starting cost for mobile uh targeted ads is one thousand dollars this week new clients can get 20 off their trial month for mobile banner ads that's right that's thousands of impressions for just eight hundred dollars your first trial month but we need to move fast because we're not going to be offering this past october 7th so next week's is the deadline so let us know i'm going to open up now for questions from the audience so if you could take a moment just launch the q a window there for us and pop in your questions about uh what you have heard here today targeted mobile banner ads any questions that i could address for you first question here what parameters can you use with mobile banner ads great question we can use age we can use geographical location in other words what is the radius that you want to target we can use competing dispensaries we can use propensity towards cannabis meaning identify specifically the audience that you want to target that's already searching the internet for cannabis products and in addition we can even create look-alike audience we can actually use your existing customer base to identify who else that looks like this audience age demographics right sex income that we can target in that same area it's amazing great question how long does it take to get these campaigns running great question um so it takes anywhere between maybe three days to five days you get everything dialed in your target audience is set up your creative setup and making sure that we get your approval we never launched any campaign without the approval from our clients meaning you get your green light so we work really fast with you to make sure that we're getting you to market as fast as possible great question um is there any restrictions with mobile ads such as graphics of weed or keywords so i am not a lawyer i will say that you should definitely get advice from an attorney on this one however now that i've put that little insertion in there i will tell you that you should be careful from state to state there are different regulations that may limit you on what you can actually use in terms of imagery for example in canada no graphics whatsoever that promotes lifestyle that promotes the use of the cannabis you cannot use it up there right in certain states in the united states you also have some regulations so do check with the advertising regulation for the state but this is a great question thank you for that thank you so much for your time today i've absolutely enjoyed this webinar and i want you to go ahead and ask you if you want to learn more please navigate to foot traffic dot me forward slash call let's get a call started let's get some of these other questions going and i'm really really happy that you've taken the time out of your day to join us today thank you so much for your time ]