Dispensary owners can agree; wasting money is never fun. If you’re looking to scale, every dollar wasted on unsuccessful marketing efforts can inhibit growth. Unfortunately, too many businesses waste money on ineffective marketing. Traffic Roots understands that marketing is like fishing – sometimes you’ll get skunked and other times you’ll bring in a record haul. Some traffic sources just don’t convert – leading to wasted spend.
When it comes to maximizing your return on investment, you don’t want to be spending real money to audiences that just won’t result in revenue. This is especially true for retail locations. We consistently see and hear from frustrated dispensary marketing managers who are trying to utilize outdoor media, influencer marketing, or other cannabis-oriented websites without solid and attributable results.
Let’s analyze each of these common sources of marketing spend burn:
- Outdoor media – It can help you drive brand awareness and get more exposure to your brand but it is incredibly difficult to track and expensive, making it difficult to scale. You’re also casting a wide net, which makes it impossible to target your ideal audience. Every day there are thousands of people who may see your message on a billboard ,but they could be underage or simply not your target audience.
- Influencer Marketing – Influencers can be great for exposure and ecommerce sales (if you are able to track the conversions properly), but attributable results are very difficult to track. As with billboards, audience targeting with influencers is an impossibility as their followers can be from anywhere in the world and they can’t focus their marketing efforts on specific users or locations.
- Direct Sites – A website that has great content that relates to your brand can be a great source to market on, but can you properly track attribution? Many sites will sell you banner space but few give you the tools you need to track results from that particular source. As with influencer marketing and outdoor media, you are unable to parse out distinct audiences.
While each of these three popular traffic channels can get customers in your funnel, their inherent lack of targeting ability makes each notorious for wasted marketing spend.
Effective targeting is the tool you need to drive a higher return on your advertising spend. As the proliferation of machine learning algorithms and consumer data continues, advertising targeting technology is crucial and Traffic Roots has it. Our geo-targeting and geo-fencing technology allows advertisers to focus on specific locations that they can service. If you have a dispensary retail location in Downtown Los Angeles, you’d be burning your valuable advertising dollars is you began to accidently serve ads in other markets, like New York.
Regardless of your size, Traffic Roots’ proprietary geo-targeting options can be configured narrowly if you only have a few locations to serve, or widely if you are an MSO with multiple locations in multiple states (or to build awareness in emerging markets you are about to enter).
Our targeting tools become even more effective when you begin to use them for retargeting purposes. Retargeting helps you stay out in front of users who have already visited your site and have shown interest in your products. This allows you to continue to build an audience that will be incredibly effective in driving sales back to your retail location or sales orders online for pickup or delivery.
All this with no wasted impressions or advertising dollars!
Traffic Roots empowers you to only serve ads to users that are in locations you specify and that you stay out in front of users that have visited your site and have shown interest in your products. It’s the ideal situation to maximize your marketing budgets and drive results.
Establish a scalable targeted strategy with a Traffic Roots marketing specialist today! Schedule a welcome call and see how our platform can drive better results with less waste.