Cannabis consumers have many options to choose from when it comes to purchasing. As a cannabis business, how do you get customers to keep coming back?
The answer is brand loyalty.
If a customer is loyal to a brand they will continually keep purchasing from the same cannabis store.
In this article, we’ll give you all the information you need to know about brand loyalty for your cannabis store.
Let’s get started.
What is brand loyalty?
Brand loyalty is when a customer continues to purchase from the same business time after time.
Brand loyalty focuses on how a customer perceives your brand. It’s a vital tool for cannabis owners to retain customers and increase repeat sales.
Benefits of brand loyalty for cannabis stores
Brand loyalty for cannabis businesses is essential. There are lots of stores in the market. Brand loyalty keeps customers coming back to repurchase.
Knowing your cannabis store has loyal customers gives you an edge over the competition.
Limit acquisition costs
Building brand loyalty with customers helps you limit acquisition costs. It’s a lot more expensive to gain new customers than to keep existing customers.
Loyal customers are also willing to spend more on average.
Bring in new customers
Brand loyalty helps bring in new customers. Existing customers can talk about your products to other people to spread the word.
This saves money on your marketing budget by having customers that love your products continue to talk about them.
Gain the competitive edge
Having strong brand loyalty can provide a competitive edge for businesses in the cannabis industry.
When customers are loyal to a particular brand, they are less likely to switch to a competitor’s brand, even if they offer a lower price or other incentives.
How to attract brand loyalty for your cannabis store
Getting brand loyalty with your customers isn’t an easy feat, but it can be done. See how to attract brand loyalty organically.
Have a clear mission
Your cannabis business needs to have a clear goal that resonates with your customers. The mission gives your business a personable aspect.
Customers want to know the cannabis store they choose isn’t just a corporate place set out to make money. They want to see what you care about and how you strive to make a difference in cannabis.
Show honesty and transparency
Customers want brands to be open and honest. Cannabis owners that can provide a clear take on their products, efforts and other practices can expect customers to connect with them better.
More customers are becoming interested in the products they buy. If everything isn’t out in the open it may question their buying decisions.
Surpass the competition
The cannabis market has had a lot of competition ever since its legalization. More and more stores are popping up in person and online. You need to find a way to be unique and stand out.
Ask yourself, what you can do better than the competition? It could be more sustainability, higher quality products, or anything else that helps you stand out.
Strategies for brand loyalty in cannabis
Implementing brand loyalty for your cannabis is an important step to standing out in the market and getting customers to keep coming back.
Here are a few strategies to use for brand loyalty in cannabis.
Loyalty program’s goal is to build loyalty and create more customer retention. It gives users an incentive to keep coming back. This could be through using points or offering special offers or discounts.
Loyalty programs create brand loyalty because it keeps customers coming back to the store. As long as your cannabis business can deliver great customer service and great products, you’ll have no issues with creating brand loyalty.
True North Cannabis has a loyalty program called “Vip”. Customers that sign up can receive special discounts, offers and other exclusive deals.
True North Cannabis loyalty program works because it gives customers a clear reason to continue shopping and gain the rewards of being a VIP member.
Do loyalty prgrams work? Check out our article about them – “Are customer loyalty programs effective?”
Referral programs can be a win-win for all parties involved. A referral is when a friend or family member recommends a product or service to you.
Usually, the friend or family member will receive an incentive for bringing you in, the business will get a sale and the new person will discover a store they like.
Referral programs are powerful because the recommendation comes from a trusted source. We’re more likely to trust our family members or friends, compared to a business selling to us.
Fire and Flower offers a referral program. Members of the Spark perks can refer people to the spark perks program and can receive 15% off their next purchase. The person signing up also gets 15% off.
The Fire and Flower referral programs work well because it’s a good enough promotion to entice people to recommend shopping there as well as signing up for Spark perks is easy.
Engage with customers
Engaging with customers is a simple yet, often overlooked brand loyalty tactic. Connecting with customers and offering a positive experience can great loyalty.
If a customer loves coming into your store, they’re going likely going to always shop there.
Think about where you’ve had a good and bad experience when shopping, which store would you like to visit again?
Chances are it’s a positive experience you’re going to visit. Engage with customers to keep them coming back.
Are you looking to build brand loyalty within your Cannabis business? Breadstack Cannabis is here to help.
Breadstack Cannabis is built to create loyalty, grow your customer base, and improve your profits.
One platform with everything you need to optimize your online store and business: real-time data, business intelligence, analytics, inventory management, customer support, promotions, and fulfillment.
Ready to try us out?