In recent years, there has been an explosion in cannabis brands that address an array of consumer demographics and needs. While the proliferation of brands reflects positive advancements in the legalization movement, it has created a more competitive cannabis brand advertising environment for consumer brands. Two key pain points cannabis brands are now experiencing include “sell-in,” where brands try to get their products into as many dispensaries as possible, and “sell-through,” where brands try to influence consumer behavior after reaching enough retailers in the market.
These two challenges have emerged among brands at every stage of growth due to their limited ability to market directly to cannabis consumers. Federal and state regulations have made creating a comprehensive and compliant consumer advertising database time consuming and expensive for individual brands. To further complicate matters, cannabis brands often have very little insight into how well their marketing campaigns perform, meaning their return on investment can be relatively low compared to other mainstream industries.
springbig aims to alleviate these two pain points through its new brand advertising platform, which provides brands with a direct channel to millions of active consumers through its retail partners and gives brands a detailed breakdown of their advertising campaign performance. As the first of its kind in the industry, this cannabis brand marketing software will allow brands to specifically engage with their ideal demographics through dispensary text message campaigns.
Businesses that utilize this cannabis brand marketing software can set their own advertising budgets and timeframes and work with local dispensaries to promote specific products on every day of the week. As an additional benefit, partner brands will have access to specific advice about their advertising images –for example, retailers can tell brands which graphics or design templates resonate the most with consumers. Once a dispensary selects a certain brand’s campaign, brands will be able to see key performance metrics such as revenue generated, products purchased during the campaign, and impressions per dispensary.
Better yet, this cannabis brand promotion tool comes at no expense to the retailer. The usual cost of sending a text message campaign is paid for by the brand, and the dispensary can even include a link to the store’s rewards wallet, e-commerce menu or attach digital coupons to the message. springbig’s ad platform allows retailers to maintain full control of their dispensary marketing campaigns while providing inventive solutions that will drive cannabis brand loyalty, dispensary loyalty, and sales.
For brands aiming to differentiate themselves to customers and retailers in this increasingly saturated market, springbig’s brand advertising platform will allow companies to increase marketing campaign ROI while meaningfully engaging with the right customers. Retailers trying to figure out how to push their cannabis products will also benefit from this platform which allows them to handpick brand and product promotions. This tool ultimately aligns brand and retailer goals by providing a constructive platform for both brands and retailers to establish long-term relationships with customers and partnerships with each other.