4. Reward/Loyalty Program
Building customer retention via a reward or loyalty program is critical, especially in cannabis. As legalization becomes widespread, creating more access, the cost of cannabis to consumers will continue to decline. At the same time, the number of dispensaries is inclining at a rapid velocity and under these circumstances profit margins will naturally decline.
A highly engaging reward program will create a continuous flow of returning clients for your dispensary. Running daily specials that are sent through text messages and emails not only help retain the dispensary’s current clients, but also contributes to maintaining the strength of the dispensary’s margins. When sending out promotional messages, it is prudent that the message includes a link directly to the dispensary’s eCommerce platform and that the special being offered is highly visible after clicking the link. A successful reward or loyalty system acts like a mini-bank account for loyal customers and is a win-win; they will spend more as they strive to achieve larger discounts, and your business will thrive.
5. Inventory Management
Cannabis is unique in comparison to other businesses when it comes to inventory. If you are ordering delivery from a restaurant, most likely they will have the ingredients to fulfill your request. This is simply not the case with cannabis.
It is vital for dispensaries to know what is in stock and what needs to be re-ordered from their distributors. If a dispensary’s inventory is inaccurate, they will have unhappy customers who have ordered online and will not be able to get what they ordered.
When bulk packages arrive from distributors, it is a smart business practice to scan each package using an inventory scanner that is directly integrated into your POS. Adding inventory manually into the system can create a massive headache, and also allows for a higher possibility of human error. According to Cannabis Industry Journal, “Cannabis businesses need more sophisticated solutions to track sales, monitor supplies, oversee shipments and remain informed on where products originate from and how frequently to re-order. Native functionalities too often do not provide such robust features.” Having a consistent, standard operating procedure in your dispensary is so valuable.
Appspensary Cannabis POS Software
If you’re looking for a robust cannabis POS software solution, Appspensary has what you need. Appspensary is an online ordering platform and cloud-based POS system that is tailored and branded for marijuana-related businesses. Appspensary includes features like:
- Online store
- Cashless payments
- Delivery optimization
- Curbside pickup
- Text message marketing
- Loyalty program
- Custom development
