A lot of people might think that the retail cannabis industry is something of an easy business. After all, you start off with a product that is in demand in a booming industry. You might think that it is something as easy as selling sunscreen at the beach, but the retail cannabis industry is not without its challenges. As dispensaries become more commonplace and each year more states decide to legalize cannabis dispensaries, either for medicinal or recreational sales, the market is becoming very competitive. Like any business, in order to meet the needs of the clientele you can’t just rely on the popularity or benefits of a product on its own. The free market means that other factors come into play besides the product you are selling.
Here are three ways to increase your dispensary sales:
1. Getting new customers in the store
You can have a great product, if not the best product in the world, but you will not achieve success until you are able to sell enough units of your product to a large customer base. For one thing, this means simply getting more customers through the front door of your store. This can be a full-time job in and of itself, but when approached with tact and consistency, you’ll find it is a crucial element to this or any business.
- Marketing: With a product as unique as cannabis, marketing can be varied. There is already a pretty solid customer base to work with, but what about appealing to those who aren’t quite familiar with the product? Through positive and educated marketing, you can bring exposure of this product to a customer base that might only be curious about cannabis use. Most lay-people might only know of cannabis use as they see it through the mainstream media or pop-culture, which just plays it off as a joke about silly stoners, rather than the full benefits of a product which have already surpassed decades of demonizing its use. A well optimized website with plenty of great content including education, news and cannabis brands will also help drive new customers to your store.
- Experience: Examine trends in what has and has not worked in the past. You have a workforce of competent and imaginative individuals who talk with customers every day. Especially when it comes to knowing the product. Be sure to be open to their thoughts and wealth of experience to see how these elements can be used to your advantage.
- Loyalty programs: One of the most addictive substances available on the market is sold in stores: caffeine. Even world-wide coffee houses offer loyalty and incentive programs. Work within the laws in your area to promote loyalty by offering freebies to customers. Even if it is just a free t-shirt or hat for every tenth purchase, pipes, lighters, discounts, or other incentives, customers like feeling like they are being treated specially and will keep coming back for more!
2. Getting customers to purchase more
- Upselling: Even with cannabis, people enjoy variety with their product. Nobody likes being stuck in a rut. If a customer is a long-time buyer of a certain variety of bud, ask them if they have considered a premium version, which will be cleaner of impurities, and even more refined in the way it is cultivated for different effects. With these sorts of perks come a slightly higher price tag, but when upselling quality, a lot of people are willing to at least see the difference for themselves.
- Relationship trust: In standing behind the product with experience, intelligence, and sincerity, customers will be less reluctant to hold back on purchases. If a budtender suggests a variety for different purposes, and presents that information as well-thought-out and bona fide, they will gain the trust of their customers who will be up for other suggestions and purchases they might have only considered in passing.
3. Getting customers to return and refer others
- Great customer service is going to draw a wide customer base every time. You can have the best product ever cultivated, but poor customer service will end a business faster than anything else.
- Giving your customers a pleasant experience will get you far. No one wants to go into a store feeling like they aren’t welcome or are not part of some “cool kids” lunch table at high school. Promoting an air of welcome, empathy, and openness to their questions will bring them back time and time again.
- There is no shame in asking for referrals. You might even make it part of a loyalty program where referrals earn a customer points or discounts. Not only will they want to share with their friends, but they will also benefit from something they enjoy being a part of anyway. Word of mouth advertising is often more reliable than any ad marketing campaign!
- Earning the trust and loyalty of your customers will build a strong foundation for your business. It brings in return clients, as well as eliminating competition with other businesses which don’t operate to high enough standards for your customers. When a customer sees you more as a friend than a business, they will stay longer, and they will spend more!
A unique and well planned marketing strategy will help drive new business. Having a professionally trained team of employees will increase your customer average transaction and keep your customers coming back and referring others. By focusing on these 3 core areas, setting goals and measuring your results; you will experience exponential growth at your dispensary. To learn more about how MJ Hybrid Solutions can help your dispensary increase sales, visit MJ Hybrid Solutions