Make sure your dispensary is set up for success. Get yourself off on the right foot by having the right tools in place from Day One. Having these five dispensary technology tools in place can help you pull off a smooth grand opening and ensure your ready for the transition to every day.
Dispensary Point Of Sale Software
At its simplest level, your Point of Sale (POS) technology is your digital cash register. It manages your transactions, updates and adjusts your stocklists reliably and in real-time, and conforms to all the complex legal mandates required to play in the cannabis field.
When it comes to selecting a POS system, choose wisely. Your budtenders—and manager, and security, and online presence—are crucial points of contact with your customers. Likewise, having a simple, intuitive and reliable POS system plays a huge role in signaling to customers that your dispensary is on top of its game, trustworthy and competently run.
Dispensary Loyalty Program
As we’ve discussed elsewhere, customer loyalty is one of the most valuable commodities you can possibly acquire in the retail arena, and nowhere more so than in cannabis. It’s still very much a “Wild West” moment in cannabis, and any number of dispensaries are competing for customers’ favor. Everything you can do to cultivate and then leverage that loyalty is—no exaggeration—money in the bank. How does it work?
Loyalty software allows you to:
Identify, Retain and Reward Top Customers: A consulting firm found that a 5% increase in customer retention can increase profitability by 75%
Generate Leads and Build Brand Recognition: If customers want to take advantage of special offers, they’ll need to opt-in using their phone number or email address. This means that you’ll be able to directly market to someone already interested in your product and nurture the relationship.
Analyze Customer Data: The customer data collected by Loyalty Program Software can be used to determine what products to stock, which vendors to work with, and help you set revenue targets.
Dispensary CRM (Customer Relationship Management)
This one is major. Customer Relationship Management (CRM) allows you to detect and analyze customer habits and behaviors, but it’s more than just a dispensary technology. CRM is an essential component of your sales, marketing, and promotional strategy. While it collects data from your other key technologies like POS and Loyalty software, it’s an overarching portrait of each and every customer: Who they are, what they like, and how to reach out to them at the best possible moment.
In short, CRM is at the very heart of your business, and it’s an unbelievably powerful tool. CRM provides priceless insights into your sales and marketing programs, telling you what’s working and what needs improvement. It helps you continually refine and improve your efforts, and providing a simple and intuitive way to measure your Return On Investment (ROI).
Have you ever craved a certain dish and driven to a restaurant that serves it, only to find the menu is inaccurate, hard to read or flat-out wrong? Are you planning on coming back any time soon? In the current cannabis market, you can’t afford to fail this crucial test. A dispensary menu is more than a list of products; it’s a constantly updating, easy-to-navigate and helpful resource for your next potential customer.
Here at Foottraffik, we know a lot about what makes a successful dispensary menu. So trust us when we say you can’t afford to skimp on this critical opportunity to connect with potential customers.
Dispensary Digital Marketing Dashboard
If the CRM is the giant information processor at the heart of your business, the Digital Marketing Dashboard is a “second brain” designed especially for marketers. And while marketing relies on experience, intuition and a dose of risk-taking, at the end of the day it’s all about cold, hard facts.
That’s where the digital marketing dashboard comes in, enabling marketers to combine data from across multiple channels into one single platform so they can track and analyze our digital marketing activities clearly and intuitively. It’s an essential tool for understanding how marketing efforts like email and SMS campaigns are performing, managing services like listing distribution, reputation management, and social media accounts, and verifying your overall ROI over your various outreach efforts.
If that sounds like a lot to manage, rest easy. When you partner with a digital marketing agency like Foottraffik, we provide you with your very own dashboard so that you have a real-time picture of how your marketing dollars are paying off.
If you have any questions about how to use these vital dispensary technology tools in your dispensary’s toolkit and how they can boost your profitability while reducing your workload, don’t hesitate to reach out. Let’s schedule a strategy session to talk about getting you more sales!