Identifying the Blind Spots in Cannabis Technology
Despite a booming cannabis market, there's a significant gap in the technology tailored for the industry. Operators often find themselves overwhelmed with compliance-focused software that, while effective, does not truly cater to the customers' needs. Software like seed-to-sale tracking excels in regulatory compliance, but as Tyler Eshkenazi of Databis puts it, "it wasn’t designed to help consumers understand a product or tell brands what consumers think of it." This leaves several blind spots concerning consumer behavior and product engagement that tech innovators are eager to address.
The Role of Consumer Interaction
The pathway to enhancing customer engagement often begins at the dispensary itself. The Peak Beyond offers features that shed light on the journey of a cannabis purchase, capturing vital interactions that occur on the sales floor. As COO Jen Dye highlights, “the sales floor is where most cannabis purchases are actually decided.” Their StorePulse analytics allows dispensary owners to visualize how consumers interact with products, which can lead to larger transaction sizes. Any innovation that enhances customer experience is paramount in this ever-growing industry.
How Brands can Connect with Consumers
The advertising limitations placed on cannabis brands present a unique challenge. Many brands rely on dispensaries to build connections with consumers, meaning their ability to garner feedback directly from purchasers is often limited. However, Databis offers a novel solution: using QR codes on products, brands can engage customers post-purchase. Eshkenazi explains, “The QR code gives the brand a direct touchpoint after purchase,” allowing for a more personalized customer experience and facilitating meaningful feedback.
Measuring Success: Grading Their Own Work
To truly thrive, these ventures need a robust measurement framework. Bud Authority emphasizes this by measuring changes against previous performance rather than resting on assumptions from ambiguous success metrics. Peterson from Bud Authority states, “You have to build the measurement before you build the work, or you end up grading yourself.” By adopting this method, companies can make data-backed decisions that enhance their offerings.
Future Trends: The Rise of AI in Cannabis
The integration of artificial intelligence into the cannabis tech landscape is a topic of conversation among industry leaders. While adoption has been slow, it presents a significant opportunity for dispensaries to turn data into actionable insights. For instance, Bud Authority has seen AI begin to influence consumer behavior, albeit in modest amounts. As Peterson indicates, the potential for AI to drive foot traffic into dispensaries is vast, and over time, companies that adapt to this technology will likely outpace their competitors.
Final Thoughts: The Importance of Customer Insight in Cannabis
The evolution of cannabis technology will hinge on its ability to bridge the gaps between compliance, customer interaction, and product marketing. Companies like Databis and The Peak Beyond are current leaders in identifying these areas and providing solutions tailored to cannabis consumers. As the industry matures, savvy retailers will converge local budtender knowledge with innovative technology to create a seamless, informative shopping experience. Keeping close to the consumer’s journey will not only drive sales but also enhance loyalty, making all the difference in this competitive landscape.
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