Effective Marketing Strategies for Cannabis Dispensaries 💲
Courtesy of @metierconsultancy
Research shows that it takes about $775,000 to open your own dispensary.
Average annual revenue by year three of operation is $3 million 💰
The cost of entry is high and the market is fiercely competitive; especially with larger players such as High Times looking to enter the retail cannabis game.
With no room for wasted resources on ineffective tools, here are dispensary marketing tactics that will deliver ROI 👌
THERE IS A LONG LIST OF POTENTIAL MARKETING TOOLS
YOU ARE IN A HIGHLY COMPETITIVE INDUSTRY.
THE STARTUP COST FOR A REGULATED DISPENSARY IS APPROXIMATELY $775,000.
EXPERTS ARE PREDICTING TO SEE A 300% INCREASE OF DISPENSARIES IN THE MARKET.
HOW DO YOU ENSURE MARKETING EFFECTIVENESS?
FOCUS ON HIGH ROI DISPENSARY MARKETING STRATEGIES
SEARCH ENGINE OPTIMIZATION
“Dispensary near me” gets more than 44k searches on Google per month. These searches indicate highly motivated, easily convertible leads.
A HIGH CONVERTING WEBSITE
94% of people won’t trust an outdated website.
In our industry customer trust is everything.
ORGANIC SOCIAL MEDIA AUDIENCE
54% of social browsers use social media to research products.
Focus your efforts on the channels that your customer segment uses.
Word-of-mouth is one of the strongest dispensary marketing channels available.
Satisfied customers can become brand advocates who will do your marketing for you.
“A brand is literally what people say about your business when you’re not in the room”. – Jeff Bezos
Without a strong framework that defines your target customers, competitive differentiators, and unique value – all the marketing in the world will not translate to business results.
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