We had a great experience at the DispensaryNext Conference & Expo. Over the 2 days, we had the opportunity to meet with many dispensary owners, future dispensary owners and other related businesses. From our discussions with them, we were able to gain deeper insights into the cannabis market and also provide our expertise into key marketing technologies to help them succeed.
Now, going into the conference, we already expected rapid growth in the canabis market, with projections showing the North American Cannabis market will reach over $20.2 billion in revenue over the next 5 years. But revenues and profits aren’t only going to grow for cannabis dispensaries, third party applications will see a boost as dispensaries look to build complete solutions for their business.
That is one of the primary reasons we exhibited at DispensaryNext. We are currently working with a few different dispensaries and can see the growth potential in the market. Before the market becomes too saturated, early dispensaries can build a strong customer base to secure their position in the market through our B2C marketing automation platform. Dispensaries can build their customer base quickly, by segmenting their customers to deploying targeted campaigns to rewarding their customers for purchases and non-purchase actions. Thus helping dispensaries create a differentiated customer experience from their competitors.
Plus, not only were we able to educate the market about our platform, we were also able to understand how the cannabis market is affecting other businesses. The 3 key takeaways we noticed from DispensaryNext are:
Takeaway 1: Dispensary Security & Surveillance
There were several vendors and a few breakout sessions dedicated to security and surveillance for dispensaries. Whether it be for securely transporting products and cash or actual in-store surveillance, keeping dispensaries safe was a hot topic.
Since the federal government will not provide loans or open bank accounts for dispensaries, all transactions are in cash. Which leaves dispensaries as prime robbery candidates. Choosing the right security and surveillance company will keep their employees and customer secure, plus help reduce costs.
Takeaway 2: New Gadgets & Accessories
On the exhibition floor, we saw many vendors that are selling new gadgets and accessories to complete the entire retail experience for a customer. For a dispensary, having complementary products is essential. Their customers can now come to them for all their cannabis needs, instead of visiting a competitor.
Takeaway 3: Marketing Technology
A key aspect for dispensaries as they begin to open up and create a customer base, is how will a dispensary create a loyal customer base. One way showcased was to use a B2C marketing automation platform as a way to build a customer base. Through the B2C marketing automation platform, a dispensary can build out a customer loyalty program, segment customers, deploy targeted campaigns and analyze customer data. Thus helping a dispensary increase their customer retention and acquire new customers.
We hope to see everyone at next year’s Dispensary Next Conference & Expo. And If you would like to schedule a demo with us to learn more about how a strategic B2C marketing automation strategy can help your business succeed, please contact us at firstname.lastname@example.org or by submitting the form below.