When my partner and I opened our first cannabis shop, sales were through the roof.
It was early during the time when marijuana was first legalized and everyone wanted to visit a dispensary.
I thought we would have free advertising for the rest of my life, simply because marijuana was so popular. The first couple of years, things were perfect. Sales were through the roof and I didn’t have to spend a dollar on advertising or marketing. Unfortunately, over the last couple of years, things have really changed drastically. There are five additional marijuana dispensaries in the valley and I don’t have the best prices. I only deal with farmers that use organic materials and that means the prices on my products are higher than average. It’s hard to explain the reasons why to a person that is looking for the best deal on weed. When I realized sales were down 20% at the dispensary, I contacted a marketing consultant. The marketing consultant visited the dispensary on three different occasions before she came to speak with me about the store. During her visits, she mostly observed. I didn’t even know who the person was until she came to meet with me in the office. Then I remembered seeing her in the store a couple of different times during the last week. The marketing consultant had a lot of great ideas. Most of the ideas didn’t even involve spending much money. She felt our product displays could be better and she also believed that we weren’t marketing the right type of cannabis products for that area. She certainly brought up a lot of things that I had not considered in the past.