It's that time of year again when consumers get lit and retailers go into a frenzy. With 420 just a few days away, this is your chance as a cannabis dispensary to head into the biggest day of the year on the right track. Do you have a well-laid-out 420 marketing plan this year?
To help you strategize, we're laying out 420 sales statistics for a bit of inspiration, then outlining four distinct options for making the most of the dankest day of the year.
420 Marketing Opportunities, By the Numbers
In advance of this year's 420 shopping bonanza, Headset released an in-depth industry report covering consumer purchasing trends in the US and Canada.
The report tells us that in a typical year (2020 excluded), 420 is the single most significant opportunity for sales. Year after year, there have been much greater sales on 420 than data points captured in the preceding four weeks. In 2021, that meant a 121 percent relative sales increase across major US markets and 59 percent in Canada.
What's more, everyone is competing to offer discounts on this weed-infused day of celebration. There was an 82 percent increase in discounts in the US and a 213 percent increase in Canada in 2021.
But Headset isn't the only analytic service detailing the profitability of 420. Akerna, a dispensary POS system, has suggested that US consumers alone will drop $130 million on a single day: April 20th. That's a 16 percent increase over last year's record-breaking sales of $116 million.
Since this year's big day falls on a Wednesday, with many events and canna celebrations happening the following weekend, Akerna predicts $400 million in sales spanning Wednesday to Sunday this year.
4 Ways to Make the Most of Your 420 Marketing Campaign in 2022
1. Start Your Marketing Campaigns Early
Have an email list? Weeks before 420, you'll want to start an email cycle that trickles in discounts and builds excitement, leading to the most significant discounts on April 20th.
Supplement your current customer base by investing in a well-thought-out paid search campaign to get in front of suitable new customers. Combined with programmatic intelligence, WUNDERWORX proprietary technology anticipates customer intent and goes far beyond simple geo-fencing.
We build qualified audiences by leveraging geographic, demographic, and psychographic data. That translates into entirely compliant and effective programmatic marketing, expanding your reach just before 420 hits.
2. Connect and Coordinate with Your Top Selling Brands
Chances are good that most (if not all) of the brands you carry are also setting big goals for the 420 holiday. Many brands will likely already have put together a media kit, highlighting new exotic strain releases, fun new edible flavors, and the like.
How can you capitalize on these special offers? You may want to advertise their limited release in an email campaign or feature them prominently near the til. Most importantly, have a sales meeting with all your budtenders in advance to go through the new products and their top selling points, and set specific sales goals for these specials.
3. Highlight Consumer Favorites
According to Headset, flower still reigns supreme in terms of customer preference. The top three selling categories in the US, no matter what time of year, are flower, vape pens, and pre-rolls.
But, interestingly, on 420 beverages and concentrate sales see a substantial uptick. This makes sense when you think about what consumers are doing on this day — socializing and partying. They want to participate in the puff-puff-pass, take weed drinks to events, and celebrate with big dabs.
Compare Headset's notes with your own sales date from previous years. Do your customers love these categories as much as Headset suggests? Use this intel to plan accordingly, communicate your goals with your front-of-line staff, and stock up well in advance.
4. Capture as Much Data as Possible
The more you know about your customers, the more you can make them happy. Most dispensaries these days have analytics services, like Headset, built into their sales systems. Your paid search campaign and email marketing campaigns are also treasure troves of consumer data, that can tell you what customers want and how well your future campaigns are working.
Also, during the 420 sales event this week, build in processes to capture new clients within your customer management system. Build your email list out while the traffic is hot. Mine this data, and reap the benefits for months and years to come.
420 is the Main Event: What Are You Getting Out of It?
How will you capture your fair share of the predicted $400 million 420 market this year? You can lead new and old customers alike through your doors on the big day if you plan it out in advance — and use real data to guide the details.
In April, meet your sales goals with a thoughtful email campaign, strategic paid search, and coordination with in-house brands. The truth is that a 420 marketing campaign serves your bottom line and your customers' needs.
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