The cannabis industry has been growing rapidly lately, and it has been projected that the industry will grow even more in the years to come. While this means that there is a higher demand for cannabis products, it also means that the competition is tighter.
On top of the ever-changing regulations surrounding cannabis in every state and country, differentiating yourself from the competition while making sure you gain profit is another challenge for many dispensaries and brands.
Two ways that you can address these challenges are to implement direct-to-customer (DTC) marketing and to use collectible products at your dispensary.
What Is DTC Marketing and Selling?
As the term implies, direct-to-customer marketing is a type of business model where a brand or any business person directly markets and sells their products to their target consumers.
This means that the brand bypasses middlemen, third-party retailers, and wholesalers, which translates to more revenue for the seller.
What Are the Benefits of DTC Marketing and Selling?
DTC marketing and selling have both strengths and weaknesses. However, with the right strategy and the right tools like Alpine IQ Brands, you can seamlessly reap the benefits of DTC marketing:
1. Lower costs and higher revenues
The most obvious advantage of selling directly to customers is the financial benefits. As we mentioned earlier, since there are no middlemen in the transaction, the costs are lower and your revenues will be higher.
This also means that brands can sell more affordable products to their customers without compromising the quality.
2. More control over the quality and the customer experience
Directly selling to your customers also means that you have more freedom in defining the customer experience: from how you market your products to customer acquisition, the checkout process, and the post-sale customer service, to name a few.
3. More personalized approach to your customers
With the right tools, you can gain insight into your customers’ behaviors and preferences, at the very least. This means that you can make more targeted and personalized strategies for your brand.
Being able to communicate directly to your customers also adds a human touch to each interaction, whether it be online or in-person.
How Can Alpine IQ Brands Help You with Your Loyalty Program?
As we mentioned before, directly selling to your customers can be challenging if you’re just starting out with your cannabis business and without the proper tools.
The most challenging part is that it can be difficult to gain traction all on your own without the help of a third-party platform. Aside from customer acquisition, it’s also essential to have a solid customer retention program to fuel your DTC strategy.
Luckily, Alpine IQ, the leading provider of AI-powered marketing technology for dispensaries, recently launched Alpine IQ Brands — a product suite that acts as a frictionless bridge that empowers cannabis brands and their respective retail partners to achieve shared objectives.
With the Brands Platform, you can reap the benefits of DTC marketing through our collectible products and loyalty program features — and much more:
1. Custom product QR codes
With Alpine IQ Brands, every product on your catalog can become an interactive collectible product. How does it work?
- You generate a custom QR code for each of your products through our QR generator
- Each time your customer makes a purchase, they can earn loyalty points
- Each point earned from your collectible products can then be converted to rewards
Collectible products can be in any form and are effective ways to build brand awareness and loyalty. Some of the most common forms of collectible products are the following, but they can be as customized as you wish to fit your unique brand and goals:
- store merchandise
- shop incentives
- gift cards
2. Loyalty points
Some products are rare and more challenging to get ahold of, especially in niche businesses. As such, product rarity can be a good motivating factor for customers to stay loyal to your brand.
By rewarding your customers with loyalty points when they purchase these products, it gives them an incentive to keep coming back for more.
3. Retailer gift cards
On a related point, motivate your customers even more by converting their loyalty points into rewards. As we mentioned, rewards can take any form, as long as it’s valuable to your target market.
If you have partner retailers, Alpine IQ Brands can also enable you to convert points into retailer gift cards, incentivizing them for their continued patronage.
Amp Up Your Marketing with Alpine IQ Brands
Collectible products are but one of the many features included in the Alpine IQ Brands Platform, but it is easily one of the most beneficial. Brand awareness and customer loyalty are two of the biggest factors in defining the longevity of a brand, and with Alpine IQ Brands, you can seamlessly achieve this.
Through our robust platform, we can work together to create compelling content that facilitates brand presence and customer loyalty, as well as leverage AI-powered analytics to make more informed decisions about your strategy.
If you want to learn more about how Alpine IQ Brands can improve your dispensary business, contact us now for a free demo!