Category: Cannabis Insights

One of the most important metrics of a successful business is customer satisfaction. Some would say it’s even more so in the growing cannabis industry where competition is downright cutthroat.

Your price and your product matter a lot, but it’s the positive customer experience that will set your brand apart from others. So if you’re not conducting a cannabis customer satisfaction survey, it’s time you do.

Client satisfaction is a key brand differentiator in the cannabis industry, but as with all other retail businesses, customer satisfaction—or even brand success— does not mean anything if you can’t translate it to sales and revenue.

This article aims to help you use your consumer survey results to not only improve the overall experience of your customers but also to leverage them in increasing your revenue.

If you’re not familiar with the Customer Satisfaction (CSAT) Survey, read on and learn why it matters.

What is a Customer Satisfaction Survey?
Customer Satisfaction (often abbreviated as CSAT) refers to how your customers feel about your products and your brand. To measure their level of satisfaction, companies can use a CSAT survey.

CSAT survey can help you identify customers who are happy with your brand and customers who aren’t.

A CSAT survey usually consists of 5 to 10 questions about your product, the customer’s personal experience, and overall satisfaction.

The survey can be in digital form or a written form that you can ask them to fill out after buying from your store. You can also send them SMS surveys or conduct the survey over the phone. Just be careful not to take too much of their time, which is why 5 to 10 questions are ideal.

How to Use CSAT Survey to Increase Your Revenue
The CSAT survey can provide valuable insights that allow you to develop and improve your products and services. These surveys also can give you a push in the right direction to better meet your customers’ expectations.

Understanding what your customers appreciate and value is essential for scaling your business. Below are some of the ways you can leverage CSAT surveys to improve your revenue.

●Identify your satisfied customers
Your cannabis customers are made up of many personas. Your job is to identify those who aren’t happy—so you can address their dissatisfaction, and those who are happy and satisfied with your cannabis products so you can strengthen your connection, improve customer retention, and create more amazing customer experiences for them.

If you’re conducting a cannabis customer satisfaction survey, identify your satisfied customers so you can also make them your brand ambassador to expand your market reach and attract new customers.

Happy customers are at the bottom of your sales funnel and so you can also create different targetting ads or marketing campaigns for them to increase conversion or get them to buy continuously from you.

●Generate testimonials
Connect with your satisfied customers and ask for their feedback. Choose those who have given you a high score for customer satisfaction. You can then use these testimonials in your campaigns and generate leads for your cannabis business.

Reviews and recommendations are very effective because they function as third-party endorsements for a company.

People tend to trust reviews and recommendations more than traditional advertising. So if you’re also looking for a cost-effective ad, there is no better form of advertising than positive reviews from users.

●Improve your product
To remain competitive in an ever-changing market, upgrades are necessary.

You can determine which products in your store need to go, and need to be changed and improved by measuring the level of satisfaction of your customers.

So to increase your sales, you can use the CSAT survey to know what products are good and what are not.

By ensuring you always have quality products and products that meet your customers’ satisfaction, you can encourage your customers to buy more of your products, impacting your sales and revenue.

High-quality products not only can boost your revenue, but they can also increase your market share.

Create a CSAT Survey Today
Solid market research is your gateway to increased sales and revenue. If you start with a cannabis customer satisfaction survey, you’ll find out what drives positive experiences in your brand.

You could do the survey yourself but you and your business could benefit a lot from outsourcing your research to professionals. Let ISA Group help you.

Interviewing Service of America is a full-service market research company with a focus on helping businesses thrive in an ever-changing landscape of modern businesses.

Our primary goal is to support the needs of organizations and their stakeholders by providing trusted and accurate research.

We provide access to a wide range of methodologies and research topics, including cannabis. Get in touch with us and start improving your sales and profitability today.

If you’re reading this, you probably already operate a cannabis business in Colorado or you are considering investing in one.

Good news: because the cannabis market is heavily regulated, there is a lot of data gathered each year that can be put to the benefit of your company. You just need to partner with the right company to gather cannabis consumer data in Colorado so you’re left with fewer questions that need answering.

The Legality of Cannabis in Colorado – Market Size Estimates
Cannabis, as you may know, is legal in Colorado – with a caveat. To purchase recreational cannabis products, one must be at least 21 years old and present a government-issued ID for the purpose of age verification. Adults between the ages of 18 and 21 must apply for a medical marijuana card.

As one of the states that allows for recreational cannabis usage, Colorado has a growing, robust cannabis industry, evaluated by the Colorado Department of Revenue at over 10 billion USD in 2021. It is expected to grow – opening the way for new merchants and investment opportunities.

However, as in all industries, competition abounds. Here are some of the ways that strategic partnership to gather cannabis consumer data in Colorado may benefit your organization or your ambitions in the long term.

Cannabis Consumer Data in Colorado: How We Can Help
Before any cannabis dispensary can make strategic decisions about marketing, budgeting, investment or positioning, its leaders must answer basic, granular questions about the basic purpose of, and place in, the cannabis market.

Like all industries, the marijuana industry is complex and subject to changing consumer habits and much more. While Colorado’s cannabis industry continues to grow, without securing proper market insights, attempting to make strategic business decisions without actionable insights is literally identical to throwing darts at a board.

Here’s how we can help your cannabis business – by answering some basic, fundamental questions.

More Accurate Budgeting
Businesses in the cannabis industry – not just in Colorado – are all faced with unique challenges when it comes to setting their budgets for the year. As with any business, arriving at a budget requires an accurate analysis of revenue, the identification of fixed and variable costs, and then determining what can be reasonably allocated to the various departments within the organization.

In order even to make an attempt to analyze revenue, it’s vital to have a good grasp of the size of the market. Partnering with ISA Corp to deliver cannabis consumer data in Colorado will help answer in-depth questions with information that will enable you to formulate learner, more accurate budgeting for more aggressive growth.

More Effective Marketing Strategies
In addition to assisting with the development of more accurate budgeting, cannabis consumer data in Colorado can help you develop more effective marketing strategies as well.

There is a saying in marketing: “Half my advertising spend is wasted; the trouble is, I don’t know which half,” often attributed to John Wanamaker.

The point is that marketing spend is vital to growth, but it can be difficult to know how effective your marketing measures are, at least by conventional means. If there were agencies around in John Wanamaker’s day that could have furnished him with real, actionable consumer insights, the reality is he’d have a much better grasp on which half of his advertising was wasted, and he’d be able to fix it.

Luckily, today there are such tools at your disposal. If you’re looking to encourage growth in your cannabis sales in Colorado, a lot of the strategy will hinge on an effective marketing plan. Cannabis consumer data in Colorado can help you answer questions like:

●Which portion of the market should I be marketing to?
●What type of positioning resonates with them? What appeals to them as consumers?
●What are their usage habits?
●How frequent is their usage?
●How price-sensitive are they?
●How age group constitutes my target market?
●Are any segments of the market shifting?

Despite the fact that these sound like encompassing questions, they are actually very high level. In order to cultivate effective marketing strategies, you’ll need to furnish your business with much more specific information about your target market’s identity, usage, and more. Only with such specific cannabis consumer data in Colorado will you be able to tackle the complex challenges of the evolving landscape of the cannabis market.

Greater Insight into Investments
Serving either the medical cannabis or recreational adult use cannabis market in Colorado is not without its challenges, especially when it comes time to analyze future investments.

An investment in new products or services can be the best decision a business can make, but it can also be disastrous.

For example, our records indicate that during the pandemic, one of the trends among recreational cannabis users was an increased demand for delivery services. This is not necessarily unique to the cannabis industry and reflects larger changes across industries, but it applies nonetheless.

Your organization might also have questions about whether or not consumer product preferences are consistent or whether they are shifting with time. Your business might be considering a strategic decision to move into edibles and concentrates as well as flowers – but in order to do so effectively, you need to thoroughly understand your market preferences, inside and out.

Making these decisions about what products or services to invest in, and how much to invest in them, is something that can only be done responsibly with the help of accurate, applicable data – the kind of data that can be furnished by partnering with ISA Corp for cannabis consumer data in Colorado.

Long Term Planning Made Easy with Cannabis Consumer Data in Colorado
Ready to learn more about the adult-use market in your area? Work with ISA Corp to gather cannabis consumer data in Colorado and then turn it around to the benefit of your organization.

If you have any questions about our products or services, please consult the previous link or contact us directly, at Hello@ISACorp.com or at 818-989-1044.

Understanding customer demographics is important when it comes to determining the success of any marketing campaign for business. In a volatile industry such as cannabis, businesses should always be on the lookout for new ways to promote their products and reach out to new customers. Knowing your cannabis consumer demographics is one way you can do this.

Demographics will help you identify each member of your market according to their characteristics, motivation to use, and overall attitude towards cannabis use.

This article will discuss the various reasons why you should be doing consumer demographics research in marketing your products and how it can help you reach your business goals faster. Read on.

Market Segmentation
Consumer demographics research is important because it can help you segment your customers according to their characteristics and what drives them to use cannabis. By doing so, you can adjust your marketing tactics to address those characteristics and needs.

Dividing your target market into smaller groups, based on shared characteristics is called market segmentation. Some of these characteristics include:
●Age
●Gender
●Race
●Marital status
●Employment
●Income
●Educational background
●and others

When you can identify your market according to these characteristics, you can inform your marketing and advertising strategies and create campaigns based on data.

With the data, you can customize your product presentation, distribution channel, marketing message, and price to grab the attention and meet the specific needs of your segmented group.
Psychographics is different from demographics. Demographic data is a quantitative method of measurement or analysis, while psychographics is qualitative data.

Psychographic characteristics include:
●Personality
●Lifestyle
●Social Status
●Activities, Interests, Opinions (AIO)
●Attitude

By Age or Generation Segmentation
Understanding age or generational characteristics is important because different generations have different sets of beliefs and attitudes towards cannabis.

For instance, just as Millenials have a different way of speaking compared to Baby Boomers, they also have different buying habits. Their attitude towards the use and legalization of cannabis for recreational and medical use can also be starkly different.

By Gender Segmentation
Males and females have different beliefs towards cannabis, and this is evident in the distribution of cannabis use between these genders. Knowing which group uses cannabis more will help you focus and refocus your marketing messages.

By Ethnicity Segmentation
People from different ethnic backgrounds have different characteristics. The population of these groups also differs in certain areas. If you have a brick-and-mortar store with one ethnic group more dominant in numbers than the others, understanding their belief system is crucial to your marketing plans.

By Marital Status Segmentation
Married people have different priorities than single individuals. These groups can also view cannabis use differently.

By Employment Status
It’s easy to create marketing strategies based on stereotypes. You shouldn’t however. If you do, you might find yourself marketing to the wrong group. That’s why getting a cannabis consumer demographics report before planning your marketing and advertising approach is important.

By Income Segmentation
People with different incomes have different buying characteristics. The more you know about buying characteristics of your market, the better you can target your marketing strategies towards that group.

By Educational Background Segmentation
The public population is widely educated to stay away from drugs. The narrative for cannabis is changing due to its legalization. Knowing how your target market perceives cannabis use will be crucial to your marketing and advertising campaigns.

The Impact of Cannabis Laws in Marketing
The legal status of cannabis in the United States has evolved rapidly over the past few decades. Cannabis is now legal for recreational use in 10 states, and medical use in 33 states.

Its legalization has changed the way people think about cannabis. However, despite legalization in several individual states and the increasingly positive public reception, cannabis is still federally illegal, which can impact your marketing efforts.

The federal government classifies marijuana as a highly addictive drug, along with cocaine and heroin, the federal government views them as drugs with no medical value.

Being lumped with cocaine and heroin doesn’t bode well for the cannabis industry. And though cannabis laws are changing and there are more calls to legalize the drug, marketing cannabis is still fraught with economic dangers.

The Future of Cannabis Marketing
Cannabis marketing is a hot topic in the marketing world. As more and more states are legalizing cannabis, marketers are looking for ways to promote their products without running afoul of federal law.

There are many challenges that lie ahead for cannabis marketers, but the future looks promising thanks to social media and the Internet. Marketing cannabis to the world has become easier.

Need Cannabis Consumer Demographics Research?
If you need in-depth demographics research, the ISA Group provides cannabis research solutions for your marketing needs. Aside from cannabis research, we specialize in custom business research, data collection, qualitative research, and academic research.

Get in touch with us today to discuss your research needs. We will be glad to assist you.

The New Year is coming in at a record pace (at least it seems like it, doesn’t it?), and now is the time to make sure you use up the rest of your marketing dollars before the year closes.

For marketing analysts, brand managers, and product development professionals in the recreational and medical cannabis industries in California, 2022 promises to provide a wealth of opportunities. The cannabis industry in California is one of the most robust in the country.

But running an efficient business requires strategic planning. Right now is the time to invest the remainder of your marketing budget for 2021, on a quick turnaround study providing insight into valuable California cannabis consumer data, before it’s too late!

Use It or Lose It!
Here’s the thing about marketing budget allocations. More often than not, companies are under strict pressure to as closely forecast as possible how much funding will be necessary to research the market and develop products in a given year.

Those funds are allocated as necessary to business development – up to a point. It is commonplace for budget reassessments and reallocations to follow years in which the books closed on a surplus of funding.

That means marketing managers often lose their unused dollars – and worse, the next year they might only be granted a smaller budget, reflecting the loss of the funds failed to use the previous year.

You’re given those dollars to invest in products, market research, and advertising so you can generate higher sales for your company. Money spent well is well spent, and for players in the California cannabis market, market research is one of the most potentially valuable investments that can be made.

You Don’t Know What You Don’t Know: California Cannabis Consumer Data and Strategic Planning for 2022
It’s important to keep in mind that there just isn’t that much historical data on medical and recreational marijuana use. In the United States (even in California) legalizing cannabis is a trend that has only relatively recently started to generate a head of steam.

Yes, cannabis sales are projected to grow, but that doesn’t answer any of the minute questions about the industry that offer up the details. There’s still a lot to know, and California cannabis consumer data is worth its weight in gold.

What Cannabis Businesses Need to Know
Guessing never pays off in business. Success is no accident, but the result of gathering accurate insights into a target market and making actionable decisions.

For businesses that operate in the industries for medical or recreational marijuana in California, using the remainder of a marketing budget to gather California cannabis consumer data via a study with ISA Corp can answer some of the following vital questions:

●Who are my customers, really? A study can help you gather direct insights into your target demographic; it might not be just who you assumed it to be.

●How familiar is my target audience with the specific products I sell?

●Is it worth investing in developing new products, such as edibles, tinctures, or cannabis drinks?

●Does my target audience have a preferred method of consumption? If so, is it worth my company’s time and resources to proliferate into additional product categories?

●How familiar are cannabis users with my company’s brand? Does my company’s brand align well with the expectations of my target audience?

●What marketing channels will be most effective at reaching members of my target audience? How much does my organization need to spend in the coming years to reach them?

●In what areas of the state will demand for cannabis products be the highest in 2022? Are there any areas projected to have higher than average growth?

●How price-sensitive are the members of my target audience? How often do they use cannabis products? Are their usage tendencies independent of price or does expense impact usage trends?

●Does my organization need to start offering free shipping or delivery services in order to remain effective?

●What other competitive moves are other players in the industry making that are either popular or effective with shared target customers?

●What are the reasons that my company’s target users consume cannabis? Is it to relieve stress, to combat cabin fever, or do they only habitually use when amongst company?

●Does my company need to adjust targeting or positioning in order to take advantage of a growing segment of the market that will not be effectively reached by our current approaches?

●Is it potentially worth investing in markets outside of my company’s home state (California), especially in light of burgeoning public support for legalizing adult use in neighboring states, like Oregon?

●What platforms does it make the most sense to advertise on, given both reach and the plausibility of advertising on platforms that may impose restrictions?

These are only a few of the questions that partnering with ISA Corp for a study to deliver California cannabis consumer data can answer. Ultimately, the questions are up to you to ask, but together we can help you answer them.

Partner with Us for a Quick Turnaround Study on the Cannabis Industry in Your Area
ISA Corp has developed the world’s first cannabis consumer panel – The Green Time – which consists of a panel of both cannabis users and industry professionals who are committed to answering questions about cannabis products, branding, and the overall industry.

Members of the panel are extensively vetted and qualified and must pass a rigorous screen process to verify their age and identity before being admitted to the panel.

You can also take advantage of our CANNApinion Poll, a bi-monthly survey of U.S. cannabis consumers. The CANNApinion Poll allows you to closely target your questions to the needs of your business and generate quick, accurate insights into your target user behavior, preferences, and more.

There’s never been a better time to take advantage of cannabis consumer insights, especially if you still haven’t used your entire marketing budget for 2021. Start off 2022 armed with answers to the questions that have plagued your organization most, and enter the New Year with a plan for sustained growth.

Start a conversion today.