How One California Cannabis Brand Was Able to Generate 1,713% ROI Using springbig Brands
Existing state and federal regulations have made cannabis advertising and marketing unnecessarily cumbersome for consumer-facing cannabis companies. While mainstream brands are free to directly market their products to potential customers, cannabis companies are still barred from utilizing this essential line of communication to find new growth opportunities.
springbig Brands aims to solve this critical pain point for cannabis brands and retailers that are trying to target ideal customer demographics while maximizing marketing ROI. In March, springbig measured the success of a campaign implemented by Elevate Lompac, a retailer based in California. The campaign featured sponsored MMS and SMS ads from Lime that promoted the brand’s line of flower products. In just 24 hours, both Elevate Lompac and Lime experienced a stunning spike in sales from customers who received sponsored ads.
springbig’s case study revealed that customers who received Lime’s sponsored ads spent $3,990 on products whereas customers who did not receive any sponsored messages only spent $694, meaning ad recipients spent over 82% more on Lime products in total.
To further underscore the efficacy of this cannabis brand advertising software, Elevate Lompac was still able to increase its sales of Lime products by 15% despite reporting a 25% decrease in customer traffic on the day of the case study.
Ultimately, the marketing campaign through springbig Brands generated unprecedented ROI for Lime. The brand only spent around $232 to generate $3,990 in revenue, which translates to a campaign ROIt of 1,713%.
springbig Brands creates a mutually beneficial relationship that allows retailers and brands to boost dispensary loyalty and cannabis brand loyalty at the same time. Retailers have complete autonomy over which sponsored brand promotions they send out to active customers, and brands have full creative control over their marketing assets and images that are sent to retailers. This cannabis marketing tool allows both parties to lead marketing campaigns that align with their most pressing business priorities.
springbig Brands is a fitting solution for younger brands with smaller marketing budgets and larger brands aiming to increase market share. The platform allows each brand to set their own campaign budgets and desired reach with the retailer and provides access to performance indicators that are often underreported or unavailable to cannabis brands with the current advertising options on the market. This includes KPIs like, revenue generated, the number of products or total purchased during the campaign, and impressions per dispensary.
This cannabis brand advertising software leverages the influence of over 1,400 retailers and 19 million active customers across the country and allows brands to place themselves directly in front of eager cannabis consumers via SMS marketing to customers who are already actively engaged in their dispensary’s SMS marketing program. As the cannabis consumer experience becomes increasingly digital, retailers and brands can no longer solely rely on dispensary foot traffic to drive sales. springbig Brands is a creative way for retailers to remotely push new cannabis brands and products to their most receptive customers, which will likely increase long-term dispensary loyalty and brand affinity. Ingenuity is required for retailers and brands to stay at the top of consumers’ minds, and springbig’s latest ad platform is one of the most effective ways to engage new and returning customers.