Cannabiz Media Blog

Leaf Trade President Michael Piermont joins Ed Keating to talk about how his company powers the cannabis industry's leading wholesale cannabis marketplace and digital payment infrastructure as well as how the Leaf Trade team uses the Cannabiz Media License Database for research and business development.

Sales and marketing integration is essential to cannabis business success, and a critical step to remove barriers between sales and marketing teams is to use a robust and reliable customer relationship management (CRM) tool. 

The Cannabiz Media team will be at Booth 336 on the expo floor during CWCBExpo in New York City. This year, CWCBExpo will be held at the Javits Convention Center from June 2-4, 2022. Stop by to say hello and watch a demo of the Cannabiz Media License Database to see how it can help your business connect with verified cannabis and hemp license holders.

It’s extremely difficult to stay competitive in any industry today, including the cannabis industry, without a customer relationship management (CRM) system in place, and the data proves it. Companies using a CRM realize a 41% increase in revenue.

Today, customers expect businesses to know who they are, understand their wants and needs, personalize communications, and create experiences specifically for them. Your cannabis or cannabis-related business can’t meet and exceed customer expectations if you don’t know who they are and deliver what they want at the right times. Fortunately, a solid CRM strategy combined with CRM software can help you meet customers’ needs across the entire customer lifecycle – from prospect to loyal repeat customer and vocal brand advocate.

Customer relationship management (CRM) involves managing all interactions with every customer and lead to improve a company’s sales and reduce churn. CRM is important to all businesses working in and with the cannabis industry today. In fact, the benefits of CRM to cannabis and ancillary businesses of all sizes are far-reaching – affecting not just sales but also marketing and customer service.

Integrating your customer relationship management (CRM) and email marketing efforts can drive incremental results for every cannabis business and ancillary business today. Why? Because integration leads directly to better results, and the data proves it! 

The Cannabiz Media Team will be at Booth 1810 at the Lift&Co Expo Toronto 2022 answering questions and giving demos of the Cannabiz Media License Database. The Lift Cannabis Business Conference and Lift&Co. Expo Toronto 2022 will be held at the Metro Toronto Convention Center on May 12-15, 2022.

When a cannabis business removes barriers between sales and marketing teams, results will improve. Research has shown that integrating sales and marketing leads to higher revenue, increased return on investment per prospective customer, improved focus and performance, increased efficiencies, and reduced frustrations. 

Email marketing presents a significant opportunity for cannabis and ancillary businesses at a time when many traditional and digital marketing tactics are out of bounds or highly restricted for the cannabis industry. Research has repeatedly shown that email marketing works. According to Litmus, for every $1 spent on email marketing, businesses receive $42 in return, and McKinsey found that email marketing is 40x more effective at acquiring new customers than Facebook and Twitter combined. 

Cannabiz Media has been tracking cannabis and hemp licenses globally since 2015. Over those seven years, we have aggregated a mass of data on licenses, companies, and transactions that result in change of license ownership. After compiling 500 transactions in our Cannabiz Intelligence™ platform, we wanted to take a closer look at how key publicly traded MSOs were adding to their store footprints. Our goal was to determine which stores were “built” versus those that were “bought”.

Integrating sales and marketing teams delivers better results for your company, and research proves it. In fact, every step you take to further integrate sales and marketing should deliver positive results for your company.