Ideally, customers would instantly fall in love with and stay loyal to your dispensary. They'd make your shop their go-to local stop and spend more and more as time goes on. But cannabis dispensary customers these days expect to be recognized for their loyalty with cannabis rewards.
Loyal customers are an important group to focus on because research has shown that 55-70 percent of a business's total sales are driven by only 15 percent of a business' most loyal customers!
Using tailor-made cannabis loyalty software embedded with advanced marketing tools is a fool-proof way to retain loyal customers instead of relying on outdated visits tracking rewards programs.
It’s not enough to just thank your customers at checkout. The most logical, easy, and efficient way to make sure your everyday customers convert to loyal customers is to go the extra mile to recognize your loyal customers and create a loyalty program with rewards that are enticing to your customers while being attainable. And cannabis rewards programs are taking the industry by storm. Nowadays, any dispensary worth its salt has one.
Loyalty programs not only encourage repeat business but great and cannabis rewards will inspire larger purchases. A 2017 report on repeat customers shows that repeat, loyal customers (the top 10%) spend 3x more per transaction than new customers, and the top 1% of customers spend 5x more than the other 99%.
Getting more customers into your top 1 and 10 percent should be your goal and getting them there is easier than you think
When creating a dispensary loyalty program, it’s best to create
• 15 percent off (or any percent off) your entire purchase
• Free Pre-roll
• Penny Pre-Roll (this is a great reward in states where you cannot give away any cannabis for free)
Unlike coffee shops, Cannabis loyalty programs aren’t a “one size fits all,” it’s important to take the time and fine-tune the program for both your dispensary and your customers. And that’s SpringBig’s specialty. We’ll take the time to create your very own, customized dispensary loyalty program.