20 Jun Personalization Increases Dispensary Sales
As competition between cannabis dispensaries increases, it’s become apparent that businesses need to re-formulate their strategies to increase dispensary sales. Groundbreaking methods such as personalization are leading the charge by enhancing a customer’s overall experience. By increasing customer loyalty and sales, personalization has proved itself that it’s a must-have strategy for any successful cannabis dispensary.
By The Numbers
It’s been found that 93% of businesses that focus on personalization increased their revenue in 2018. This is a significant number of businesses that are reporting success with this strategy. Additionally, 77% of companies that use advances personalization techniques exceeded their revenue goals in 2018.
The numbers don’t lie, and it was seen that companies that implemented personalized financial incentives for their clients outperformed businesses that didn’t by at least 50%.
Ideas of Personalization for Cannabis Dispensaries
Technology is the most common method to adopt a personalization strategy. Businesses that use technology to personalize the customers’ experience bring about an entirely new element to the shopping experience.
Tailored products and educational entertainment are two examples of personalization through technology. Customers feel that they’re being catered to, which increases their sense of loyalty to your brand or business.
Traditional retail has lost the attention of shoppers, and this new form of personalized retail has brought forth a new way to do business. Shoppers are less inclined to ask questions to dispensary employees due to the vast amount of information found at their fingertips via their smartphones. By implementing personalized educational material for customers to browse, they’re better able to educate themselves at their own pace.
Another example of the benefit of personalization is that customers will receive information regarding products that they’ll likely buy. Technology that monitors a client’s purchase history can run this data through an algorithm, which understands the patterns and desires of each and every customer.
Seed: Helping Dispensaries Adopt a Personalization Strategy
Luckily for you, Seed has developed a cutting-edge service that allows you to adopt a personalization strategy through the use of its self-service platform. This platform utilizes educational tools, product recommendations, and targeted cross-promotions capabilities.
When a customer walks into your dispensary, their first destination is the waiting room. This simple experience can make or break a customers’ loyalty to your business. Long wait times leave customers with nothing to do, and this is where Seed’s self-service kiosk shines.
Education is power, but it can also be a form of entertainment. Each of Seed’s self-service kiosks is capable of customizing the learning experience for each customer based on their needs. By being better informed, customers are likely to purchase more products.
Product recommendations are another aspect of the self-service kiosks. They are interactive and engaging, and at the same time give customers a tailored recommendation of a product based on their needs.
Through the interaction, the kiosk will understand what a customer enjoys the most, whether it’s smoking, vaporizing, or consuming edibles. By learning what the customer wants, the kiosk will quickly and efficiently recommend the best products.
The Kellog School of Management recently found that self-service technology increases the average cart size by 25%. This is done through “smart” recommended products that were recently viewed by a customer.
Self-service kiosks are capable of cross-promoting products to customers based on their purchase history. This data-driven tool has become an absolute necessity for any successful business strategy.