Exploring the Benefits of Dispensary Software for Customer Relationship Management
The cannabis industry relies on various tools to help companies streamline operations, manage inventory, track sales and compliance, and more. A dispensary loyalty program is one of the most valuable tools to save time and money.
The loyalty programs built into CRM systems provide valuable customer data to business-savvy retailers. Two of the most popular options include Spring big and Sprout.
Streamlining operations is essential for any business, but it’s especially critical in the highly regulated cannabis industry. Many dispensaries, like the dispensary software, must follow strict tracking, reporting, and compliance guidelines. A POS system that supports these processes can help dispensary owners save time and money, improving customer service and revenue.
A POS system can help a cannabis business manage the procurement and sale of products and document all the data necessary to comply with industry regulations. It can also help manage employees and customers across multiple locations, which benefits businesses that operate medical and recreational dispensaries. The right POS system can even include features for managing shift timings and storing transaction information to produce real-time sales reports.
In addition, a POS system can support different payment methods for a cannabis business, making it easy to accept both credit and debit cards. For example, a POS system from Sprout provides users with a digital rewards wallet that allows them to earn and redeem points, receive personalized offers, and make cashless transactions. Customers can access their rewards wallet online or in person at Sprout’s dispensaries. As the US cannabis industry continues to boom, a streamlined operational process is key to staying competitive and profitable. Contact a reputable ERP software provider like SAP Business One today to learn how a POS system can streamline your dispensary’s business.
Customer loyalty systems are an effective marketing strategy and help dispensaries retain existing customers while boosting sales. These programs offer many benefits, including increased repeat visits, customer service, and the ability to target specific demographics with relevant messaging.
Many dispensaries choose to use CRM software designed specifically for the cannabis industry. These solutions are typically more user-friendly and compliant than mainstream CRM platforms. Using purpose-built CRMs also makes it easier for marijuana businesses to submit compliance reports and track their seed-to-sale tracking.
One example is Web Joint, a CRM provider offering a complete business management platform. The solution helps marijuana businesses become self-sufficient and compliant by automating taxes, syncing with METRC in real time, and integrating with POS systems, e-commerce websites, and in-store inventory. Web Joint can also create automated, real-time reporting for dispensaries and product brands that comply with state regulations.
Another example of a cannabis-specific CRM is a full-suite customer relationship management software (SaaS) service that helps dispensaries engage and build relationships with their clientele. The solution offers tools for loyalty and rewards programs, text and email marketing, referral campaigns, segmented customer insights, and more. Its digital loyalty and rewards program is a clear industry leader, helping dispensaries establish brand allegiance, maintain a line of communication with their clientele, and deter shoppers from switching to competitors.
Improved Customer Service
Streamlined customer relationship management processes and data collection make it easier for dispensary employees to assist customers with product knowledge and recommendations. This helps to increase sales and loyalty while improving the overall customer experience.
Many dispensary owners have seen their revenue increase significantly since the legalization of recreational marijuana. As the industry grows, it becomes increasingly essential for dispensaries to focus on customer service and retention. The use of a cannabis CRM and loyalty program will help them to do this.
A cannabis CRM can be integrated with the dispensary’s POS to track purchases and identify repeat buyers. This information can be used to send targeted marketing messages to bring in new business at optimal times. A loyalty program will also collect customer data and information, which can be used to inform future promotions.
The software can also include theft detection features to protect against employee-led fraud. This is especially important because theft can have serious legal and financial consequences for the dispensary. In addition to tracking inventory, a dispensary CRM can operate offline to continue functioning even during an internet or power outage.
A robust CRM can allow multiple point-of-sale integrations to eliminate double data entry and streamline operations. It can also provide precise financial and sales reports to help the team with future steps. The software can also help avoid legal trouble by recording and keeping all necessary data to comply with local laws.
Many dispensaries use CRM software to automate marketing and stay in touch with customers. This allows them to send relevant messages at the right time, which is a reported struggle for nearly half of all marketers. Some CRM solutions are also designed to support loyalty programs and add ecommerce ordering functionality to dispensary websites.
One example of a CRM solution built specifically for cannabis is Baker, which offers a full suite of tools for marijuana retailers. This customer relationship management platform includes email marketing, multimedia messaging, SMS text messaging, surveys, mobile coupons, and loyalty programs. It even has a jumpstart program to help new dispensaries get started quickly.
Another example is WM CRM, formerly Sprout, which helps marijuana brands and their employees optimize customer service. This marijuana CRM solution helps dispensaries improve customer retention, generate repeat visits, and boost sales by consolidating information that was once limited to the brains of budtenders. This is achieved by streamlining various data management and marketing processes and leveraging a dispensary’s POS system to track purchase histories and identify high spenders.
Most of the major CRM providers have developed solutions for marijuana dispensaries, with each offering unique features to meet specific needs. For example, CRM integrates with a dispensary’s POS to collect valuable customer data and provides reporting tools with easy-to-understand data visualizations to help optimize marketing campaigns. The company’s loyalty program supports a digital rewards wallet, including opt-in promotions like points-per-dollar and tiered loyalty capabilities.