As Colorado’s cannabis industry continues to grow and mature, dispensary owners and other ganjapreneurs are taking a more analytical approach to retail marijuana. According to industry experts, dispensaries cannot hope that the novelty of cannabis and tourism continues to support the market. Rather, they need to dive deeper into customer engagement.
“As more states decriminalize marijuana, we see tourism is slowing down, which means the value of customer retention is higher than ever. Like all retail, it costs six times more to find a new customer than serve a returning customer,” says Joel Milton, CEO of Baker, a cannabis data-tracking service.
The latest in cannabis data-tracking tools gives dispensaries, marketers and anyone involved in the marijuana industry a new perspective on products purchased across the state. Dispensaries that aim to thrive must turn their