As the cannabis market becomes more diversified and competitive, many established brands are seeking out more effective ways to engage new and returning customers in this new retail landscape. Although consumers have come to embrace recent innovations within the cannabis industry, federal laws and advertising regulations have yet to catch up, meaning that cannabis advertising is still limited to more conventional methods including print, billboards and television commercials.
These archaic methods are not only costly but also do not align with the consumer habits of cannabis’ digitally-savvy younger audience, often leading to low ROI on cannabis advertising campaigns. Fortunately, springbig launched a groundbreaking digital advertising platform earlier this year that allows brands to directly reach consumers while staying compliant with advertising regulations. Several brands that have signed on have already experienced considerable success –one California cannabis brand was able to generate a staggering 1,713% ROI through Brands by springbig in the early stages of the product launch.
In our latest case study, we found that PAX, one of the leading brands in the industry, was able to increase its average daily sales at a notable dispensary by 200% during a campaign in early July. Duri
ng the Brands by springbig campaign, this California-based dispensary increased sales of PAX products from $2,000 a day to $4,000 a day. Over the four day period, the dispensary was able to sell an additional 290 units of product and generate over $7,000 in incremental revenue above their normal rate.
The efficacy of springbig’s cannabis advertising software is also demonstrated in impressive sales figures even after the end of the campaign. Data collected in the following week after the campaign period showed that daily sales of PAX products at the dispensary were still up by 75% compared to pre-campaign sales numbers.
Brands by springbig enables cannabis brands to effectively reach customers by allowing them to fully leverage a dispensary’s active customer base. Brands like PAX upload their advertising ideas and assets to a dispensary’s springbig dashboard, set their budgets and audience targets, and have dispensaries send out the promotion to appropriate consumers. Since most dispensaries are tapped in on their own customers’ preferences and habits, this cannabis marketing platform takes the guesswork out of which consumers brands should target and provides clear campaign performance metrics.
As a result, both brands and dispensaries benefit from increased sales through these attractive marketing campaigns. Brands by springbig’s lasting effect on sales performance is one of the numerous reasons why retailers and brands should embrace the new era of cannabis digital marketing. Learn more about the feature by requesting a demo here.