Over the last seven years, myself and Respect My Region have been assisting with the marketing for cannabis retailers operating in numerous states and countries. Washington State, California, Oregon, Colorado, Missouri, Massachusetts, Ohio, Arizona, Nevada, Michigan, and Canada to be specific. Today’s article will dive into some of our experiences with one of our former retail partners who operated in a smaller city/town. We’re going to share details on how we grew their monthly revenue from $175K/mo to $440K in less than a year.
For starters, I’d like to share some context.
Our cannabis retail marketing experience spans numerous regions and with all kinds of different partners. We work with large retailers and smaller ones, and the one in this story was definitely a smaller-size operator. They were going through a major transition with a former partner that included a physical location change, rebrand, plus the classic saturation of 5 retailers all on the same street, within the same mile, and roughly three of the retailers in the same parking lot area. Some of them offered delivery as part of their retail experience, others did not.
When we started working with this particular retail team, they had just taken over a physical location that had been failing under the operation of another multi-location cannabis retail brand. These former operators were doing between 90,000-$100,000 in monthly revenue which just isn’t enough revenue to really grow and operate with in that hyper-saturated market. The location was quickly rebranded to a better experience that included delivery and a significantly better menu with more deals, promotions, and community-centric themes.
This particular partner was already operating for years as a delivery service and was a healthy chunk of an overall monthly revenue around $600,000 or so. Now with their own retail dispensary, they had a following that could still utilize their delivery, or come hang out and meet the fam at the shop, or both!
When we linked up, I was beyond excited because this seemed like the perfect small business to work with. I immediately crafted a plan that united their in-store offerings with the delivery service in a big way.
Utilizing a combination of aggressive purchasing, strategic partners, community presence, and heavy digital marketing, we were able to acquire new customers, re-acquire customers from their previous partner, and grow their initial revenue from $175,000 per month to $440,000 per month in less than a year.
Now to some of you, that growth in a year may not seem like that much, and I hear you, but for this city, and with the budget we had to work with, we’re pretty proud of the results.
Okay, so how did we do it?
How Respect My Region Grew A Cannabis Retailer’s Monthly Revenue From $175K to $440K
Optimized In-Store Experience via Menu and Loyalty Program
Highly Segmented SMS Messaging Campaigns aka Text Messaging
Aggressive Buying and Strategic Vendor Partners
Community Activations for Customer Acquisition
Watch the full Respect My Region Digital Trapper Institute Podcast episode below to find out specific details and learn about the deals, brands, products, and campaigns that we ran to grow the monthly revenue for this cannabis retailer.
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