As the 2022 holiday season comes to a close, there is another holiday in the new year that cannabis dispensaries everywhere need to prepare for — 4/20! From discounts and sales to social media and email promotions, there are so many ways you can get ready for this big day.
Increased Sales & Store Traffic on 4/20
According to Cova Software, cannabis retail sales on April 20, 2022 continued to increase industry-wide, even as profit-per-store saw decreases from pre-pandemic and 2021 sales numbers. Americans spent an estimated $128 million on marijuana in 2022, while Canadians spent just a little over $16 million. Although average sales per store did not match pre-pandemic levels, 4/20 still proved to be one of the most significant holidays in terms of cannabis sale totals and store traffic.
As the support for cannabis legalization continues to grow, the 4/20 holiday will only increase in significance — meaning dispensaries who are not using this day to promote their business truly are missing out on a great opportunity. To help cannabusinesses kick start their preparations, Leaf Retailer has created the ultimate 4/20 Gift & Sale Guide to help you sell the most products.
- Make Sure You Have Enough Manpower
- Stock Up Ahead of Time
- Begin 4/20 Cannabis Promotions Early
- Most Importantly — Have Fun
Step 1: Make Sure You Have Enough Manpower
The first thing dispensaries need to do is make sure they have enough employees to help with the influx of traffic around the 4/20 time frame. This can be difficult for newer cannabis businesses who may not know how many customers will show up either through their doors or make online purchases.
If you can afford one, hiring a cultivation consultant can help you to get a better idea of what to expect for the holiday. Hiring an experienced cultivation consultant is yet another cost, but in the big picture, it can actually save you a significant amount of time and money by providing you with the information you need to formulate a realistic budget, profitable cultivation site, and a well-trained workforce.
If a cultivation consultant is too expensive for your dispensary at the moment, you can always just hire a few additional bodies and ensure all of your regular employees can work the week of 4/20. Between in-store shoppers, online orders, and any special events you have planned, you will definitely need a little more manpower than normal.
Step 2: Stock Up Ahead of Time
Just as important as it is to make sure you have enough hands on deck, cannabis dispensaries also need to ensure they have enough products in stock. Running out of product on 4/20 and failing to prepare for the influx of consumers can not only lead to an unhappy customer, but can also lead to negative online reviews or word of mouth, according to the Cannabis Business Times.
Ordering merchandise months in advance can definitely help to ensure you have various options for shoppers to choose from. This means stocking up on the typical best-sellers, as well as new and trending strains or other items that are popular. Springbig offers some tips for dispensaries in order to find out what their customers are really looking for:
• Utilize Data to Track Sales
After checking your store’s dashboard and tracking your past retail cannabis sales, you can see which products were most popular on previous holidays and make sure you are able to stock up for 4/20 with all of your customer’s favorites.
• Track Metrics
Analyze your dispensary metrics in the weeks leading up to the holiday so you can create deals tailored to best serve your visitors and clear out your stock. This allows you to make sure you will have enough inventory of popular products to last through the 4/20 sales and customize your campaigns based on your inventory in the weeks leading to April 20.
• Run Customer Surveys
If you want to understand your loyal customers, then running a couple of surveys or asking for feedback through social media posts can help you figure out exactly what your shoppers want. However you receive your feedback, collect the data and see which cannabis products are most sought after.
• Purchase Products Inexperienced Users Will Like
4/20 promotional items that may not be popular with experienced users, like pre-rolls, will sell at higher rates on the holiday due to a large number of inexperienced or completely new consumers looking to partake in the cannabis community’s biggest day of the year. In fact, according to a study by Headset, pre-rolls have been the most popular 4/20 item for three years in a row. So be sure your dispensary is well-stocked with merchandise that is popular with new users, such as pre-rolls and vape pens.
Step 3: Begin 4/20 Cannabis Promotions Early
Instead of offering deals just on April 20, dispensaries should start their sales a few days prior to the holiday. This can give more shoppers a chance to take advantage of your deals and let word of mouth help to bring more customers in your store.
Need help figuring out the types of promotions to offer at your dispensary? Cannasite offers some marketing tips to help get you started:
Start With a Strategy
The first thing to consider when building your 4/20 promotions is your why. What are the goals of your 4/20 marketing campaigns?
- To increase foot traffic and sales at your dispensary?
- To increase foot traffic and sales on your website?
- To sign up prospects for an online demo?
- To book more client calls?
- To build your email list?
- To increase loyalty platform sign-ups?
- To grow your followers on social media?
- To increase your customer reviews?
Determine an Incentive
Now that you are focused on your goals, determine the promotion type. Think about your best 4/20 marketing ideas or do some googling, then jot them all down in a “brain dump.” Popular promotion options include:
- Offering a percentage discount off total purchase
- BOGO offers
- Gift with purchase
- Entrance into a contest or giveaway
- Deals on specific products or brands
- Rewards points for specific actions
Cross Promote and Integrate
A promotion only works if your audience sees the deal. An omnichannel marketing plan integrates your promotion across multiple channels and understands the customer’s journey. Your 4/20 promotions should be the first thing shoppers see in the weeks leading up to the holiday whenever they visit your website, social channels, and your storefront.
Incentives and sales to support your 4/20 marketing campaigns can be promoted in several ways:
- Website pop-up or pop-out
- Homepage hero/above the fold
- Blog post with event details
- Email blasts
- Coupon exclusive to the newsletter
- Dedicated landing page linked from social media or an online ad
- Influencer-promoted content
- Collaborating with another brand
- A YouTube video or Pinterest post
- Social assets for a post, story, reel, IGTV, and more
On top of holding your sales and promotions on more than one day, dispensaries should also prepare to begin marketing campaigns about a week or two in advance. Get shoppers hyped up for what you have planned and give them enough time to tell their friends or family members who may also be interested in celebrating the holiday.
Step 4: Most Importantly — Have Fun
The best thing dispensaries can do for their customers on 4/20 is to make it a party where everyone, including your staff, is having fun. Whether it be with a photo booth, a DJ, extra props and decorations, food trucks, or promotional giveaways (lanyards, pop-sockets, or sunglasses with your brand name on them), there are so many different ways to make shoppers feel welcome.