Email Marketing Strategies for Cannabis Businesses: High ROI

Introduction

In the rapidly evolving cannabis industry, implementing effective Email Marketing Strategies for Cannabis Businesses is crucial for building brand loyalty and driving sales. As cannabis regulations continue to shift, maintaining compliance while effectively reaching your customers is essential. This case study analyzes how our targeted email and text marketing tactics successfully acquired new subscribers and generated significant returns on investment (ROI) for our dispensary client over a five-month period.

Client Overview

• Industry: Cannabis
• Client: Dispensary
• Period: 5 months

Objective

To analyze and demonstrate the effectiveness of our email and text marketing strategies in acquiring new subscribers and generating significant ROI for our cannabis dispensary client.

Key Metrics

Subscriber Growth

• New Sign-ups (last 3 days): 81
• New Sign-ups (0-7 days): 74
• New Sign-ups (8-15 days): 159
• Total Subscribers: 2,757

Campaign Performance

• Live Campaigns: 57
• Revenue Generated: $387,556.84
• Total ROI: $387,263.20
• ROI Percentage: 131,884% (1,320x return)

Engagement Rates

• Open Rate: 36.04%
• Conversion Rate: 5.22%
• Error Rate: 1%

Revenue Analysis per Action

• Per Conversion:
  • Cost per Conversion: $0.07
  • Revenue per Conversion: $930.43
• Post-Landing Page Click:
  • Revenue Generated: $82 (0% of total revenue)
• Post-Text Open:
  • Revenue Generated: $4,838 (0.12% of total revenue)
• Post-Email Open:
  • Revenue Generated: $119,040.30 (3.1% of total revenue)
• Post-Email Sent:
  • Revenue Generated: $263,596.50 (6.8% of total revenue)

Subscriber Engagement and Value

• Active Rate: 188 subscribers (8.97%)
• Club Member Average Order Value (AOV): $82.48
• AOV vs Non-Members: 17.1% higher
• Percentage of Revenue from Members: 18.69%
• Percentage of Orders from Members: 15.95%
• Top 20% Spender (Member Percentage): 23.37%

Analysis

Subscriber Growth

Over the last five months, we successfully acquired 2,757 new subscribers for our dispensary client through targeted email and text marketing strategies. Notable spikes in new sign-ups occurred between 8-15 days, indicating the effectiveness of specific campaigns or promotions during that period. This growth demonstrates our ability to attract and retain interested customers through strategic outreach.

Campaign Performance

With 57 live campaigns, our client generated $387,556.84 in revenue, achieving an extraordinary ROI of 131,884%. This impressive return showcases our ability to drive significant value for our clients through well-executed email and text marketing tactics. The high ROI highlights the cost-effectiveness and efficiency of our strategies in generating substantial financial gains.

Engagement Rates

The engagement metrics, including a 36.04% open rate and a 5.22% conversion rate, highlight the effectiveness of our email content and segmentation strategies. The low error rate of 1% further emphasizes the quality and precision of our campaigns. These metrics indicate that our emails are not only being opened but are also compelling subscribers to take meaningful actions.

Revenue Analysis

The detailed revenue analysis shows that the majority of revenue ($263,596.50) was generated post-email send, accounting for 6.8% of the total revenue. Email opens contributed significantly as well, with $119,040.30 generated, representing 3.1% of the total revenue. Text message openings also played a role, generating $4,838, accounting for 0.12% of the total revenue. The landing page clicks generated $82, contributing minimally but indicating the need for potential optimization in this area.

Subscriber Engagement

The active subscriber rate of 8.97% and a higher average order value among club members (17.1% higher than non-members) underline the importance of retaining engaged subscribers. Members accounted for 18.69% of the total revenue and 15.95% of orders, with the top 20% spenders being primarily members (23.37%). This data underscores the value of loyalty programs and targeted engagement in driving higher sales.

Summary

Our comprehensive email and text marketing strategies have proven highly effective in growing our client’s subscriber base and driving substantial revenue. With an impressive ROI of 131,884% and strong engagement metrics, our tactics not only attract new subscribers but also convert them into valuable customers. This case study highlights the potential for similar success with future clients looking to enhance their email marketing strategies and achieve significant growth.

Ready to achieve similar results for your business? Contact us today to learn how our tailored email and text marketing strategies can drive growth and revenue for your cannabis business.

For more insights and personalized assistance, visit Gold Standard Solutions.