Mike Hayes: “I Tell People What I’ve Done Wrong, Instead Of What I’ve Done Right”

Within the rapidly growing cannabis industry, achieving success requires more than just a green thumb—it demands innovative thinking, strategic partnerships, and a deep understanding of customer needs. In a recent episode of our Dispensary Marketing Podcast, Brandon Kwan sits down with Mike Hayes, a former military and finance professional turned cannabis entrepreneur, to uncover the strategies behind his thriving business, Miracle Greens. Listen as they delve into the challenges and triumphs of marketing in this unique sector.

Understanding the Cannabis Market Landscape

The cannabis industry is evolving, with consumer preferences shifting rapidly from traditional flower products to edibles and vape cartridges. But how do businesses keep pace with these changes while maintaining profitability and customer loyalty?

The Growing Popularity of Alternatives to Flowers

Consumers are increasingly drawn to the convenience and discretion of edibles and vape cartridges. This trend suggests that dispensaries must adapt their product offerings to align with market demands. But it’s not just about stocking these items; it’s about creating an experience around them that educates and engages customers.

The Stigma Around Public Consumption

In Oregon, for example, public smoking restrictions have contributed to a stigma surrounding flower products. This has propelled the need for businesses to promote discreet consumption methods and to advocate for a more accepting cultural perspective on cannabis use.

Building Strong Vendor Relationships

The foundation of any successful dispensary lies in the relationships it cultivates with vendors and customers. Mike Hayes emphasizes that loyalty and trust are instrumental in retaining a strong client base.

Why Relationships Trump Transactions

Long-lasting relationships lead to repeat business. By focusing on genuinely understanding and meeting customer needs, Hayes’s dispensaries foster an environment where loyalty, not just price, drives sales.

Loyalty Programs and Customer Retention

An effective marketing strategy offered by Hayes’s dispensaries is the use of loyalty points. Encouraging repeat visits through rewards not only builds a loyal customer base but also generates valuable data on buying habits, contributing to more informed business decisions.

The Importance of Location and Regulation Compliance

The process of opening a cannabis dispensary comes with a bevy of challenges. The key to navigating these obstacles? Location and compliance.

Learning From Mistakes and Embracing Regulations

Hayes shares a story about the pitfalls of opening a dispensary in the wrong location. Adhering to regulations like Oregon’s 1000-foot rule can be the difference between a thriving business and a shuttered shop. It’s a cautionary tale that underscores the importance of due diligence and strategic planning.

Finding Fulfillment Beyond the Financials

Money isn’t the sole motivator for many in the cannabis industry. Fulfillment plays a significant role in driving passion and perseverance, and Hayes is no exception.

The Pursuit of Meaningful Work

Hayes shares his journey from the semiconductor industry to cannabis, driven by a quest for work that felt impactful and aligned with his values. This focus on intentionality and high-impact work appears to resonate with many industry players.

Effective Marketing and Customer Education

A well-thought-out marketing strategy is vital in differentiating your dispensary from the competition. But what does effective dispensary marketing entail?

Creating an Approachable Environment

Hayes’s dispensaries aim to create a space where customers feel respected and informed. Offering product demonstrations and prioritizing customer service ensures customers feel supported, not pressured.

Leaving a Legacy and Lasting Impact

The cannabis industry isn’t just about the “green rush”—it’s an opportunity for pioneers like Hayes to leave a lasting impact.

A Commitment to Change and Collaboration

Hayes’s influence helped remove a county commissioner who wasn’t serving small business interests. His story exemplifies the potential for individual actions to ripple out and effect broader change.

FAQs about Dispensary Marketing and Entrepreneurship

1. What are the current consumer trends in the cannabis industry?

Edibles and vape cartridges are gaining more interest due to their convenience and reduced stigma compared to traditional flower products.

2. How important are vendor and customer relationships in dispensary success?

Extremely important. Building trust and loyalty with both vendors and customers can significantly contribute to the sustainability of a dispensary.

3. What are some key factors when choosing a location for a dispensary?

Traffic patterns, community attitudes, and adherence to local regulations such as distance rules are crucial considerations.

4. How can dispensaries retain customers effectively?

Loyalty programs, exceptional customer service, and educational initiatives about product use can all help to keep customers coming back.

5. What role does personal fulfillment play in the cannabis industry?

Many entrepreneurs like Hayes pursue the cannabis business for the fulfillment it brings beyond financial gain—impacting lives, driving innovation, and creating jobs.

6. What are some marketing strategies for dispensaries?

Creating a welcoming atmosphere, focusing on education and transparency, and using loyalty points and rewards programs are effective marketing tactics.

In Conclusion

Dispensary marketing in the cannabis industry is a multifaceted challenge requiring perseverance, strategic partnerships, and an understanding of the evolving market. Our discussion with Mike Hayes offers invaluable insights into building a successful dispensary rooted in strong relationships, compliance, and a focus on customer education. The future of the cannabis industry holds promise for those willing to navigate its intricacies with conviction and care.

 

Find Mike Hayes Below:
www.miraclegreen.com
www.miraclegreens.com
@miraclegreensbend
@miraclefarmsoregon

Article By

Brandon Quan

About The Author: A digital marketer with over 7 years of experience, Brandon Quan is wildly known as the top marketing expert within the Cannabis Industry.

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