Ryan Hermansky:”If We Did It All Over Again This Is What We Would Do…”

Introduction

In today’s bustling and increasingly competitive cannabis market, creating an exceptional retail experience is paramount. But how exactly do businesses keep customers coming back for more? How do they educate both their staff and customers about a product line that’s as varied as it is complex? And in an industry fraught with legal and marketing challenges, what strategies can dispensaries employ to thrive?

Welcome to a comprehensive exploration of creating success in the cannabis retail space, where we not only demystify the complexities of this thriving industry but also offer an insider look at effective strategies, market adaptations, and customer engagement. Get ready for a wealth of insights that could propel your cannabis retail venture to new heights.

The Importance of Customer and Staff Education in Cannabis Retail

The cannabis industry is a labyrinth of products, terms, and legal nuances. The first step in ensuring a loyal customer base is to provide outstanding education—for both the staff and the consumers. But how exactly can this be executed?

Staff Training: The Bedrock of Knowledgeable Service

Employees should be well-equipped to guide customers through the myriad of strains and products available. Regular training on the latest industry developments is crucial. It’s all about securing a knowledgeable team that can handle any question thrown their way with confidence.

Empowering Customers Through Education

Educational workshops, informative pamphlets, and one-on-one consultations can help demystify the assortment of products. Understanding a customer’s needs and offering tailored advice fosters trust and creates an unparalleled retail experience.

Navigating Marketing and Advertising Challenges

Now, let’s tackle a thorny issue: marketing in an industry where the rules are as hazy as they are strict. With social media platforms being notorious for shutting down cannabis-related accounts, what innovative strategies can you use to spread the word about your business?

Beyond Social Media: Creative Tactics to Catch the Eye

Think outside the proverbial box with radio ads, billboards, or partnerships with non-cannabis brands. It’s about leveraging what you can to make noise and be heard in a market that often requires speaking in a whisper.

Curating Products with Precision

The selection of products on your shelves can speak volumes about your brand. Focus on the cycle of selection and replacement based on customer feedback and trends. Remember, the market prefers dynamic shelves that reflect its evolving tastes.

Drawing Parallels Between Cannabis and Other Industries

The complex cannabis market often mirrors the intricacies of the wine and craft beer industries. How do dispensaries create a stratified product offering that resonates with such a diverse clientele?

Catering to All: High-End and Budget-Friendly Options

Much like a sommelier tailors wine recommendations, dispensaries must curate a product range that caters to both connoisseurs and casual consumers. This balance ensures everyone walks out the door with something that suits their palate and their wallet.

The Importance of Tiered Pricing

Why should a dispensary offer different price points? Simply put, it’s about choice and affordability—key drivers in any retail environment. Your store should be a haven where everyone can discover their perfect strain or product without breaking the bank.

The Evolving Legal Landscape and Consumer Perceptions

The legal challenges and public attitudes towards marijuana have morphed drastically over the last decade. But, what can dispensaries anticipate when the winds of change blow again, and how can they adapt?

Preparing for Legal Shifts

As we stand on the precipice of potential federal legalization, dispensaries must ready themselves for the tidal wave of transformation. Embrace agility and ensure that your business model can withstand and leverage new regulations as they emerge.

Shifting Consumer Perceptions

From skepticism to acceptance, the journey of cannabis has been remarkable. Dispensaries must continuously evolve their messaging to align with the growing consensus that views marijuana as a reputable recreational and medicinal option.

The Pivotal Role of Investment in Cannabis Ventures

Whether you’re bootstrapping or managing investor relations, money matters in the world of cannabis retail. But how should cannabis entrepreneurs navigate these waters, and what hindsight wisdom can guide future decision-making?

The Importance of Managing Investors and Capital

Securing the right investors and effectively managing capital is vital for survival and growth. Innovative thinking, like exploring smaller-scale investment or prioritizing retail operations, might have been a safer bet for many.

Reflections on Early Investment Decisions

If given a do-over, experts like Ryan Hermansky suggest greater caution and foresight in securing and handling investments. Early mistakes can be costly for growth and expansion, emphasizing the importance of strategic financial planning from the get-go.

Frequently Asked Questions:

1. What makes customer education so important in the cannabis industry?

Customer education is critical because it empowers consumers to make informed decisions, builds trust, and can lead to repeat business due to positive customer experiences.

2. How can dispensaries market themselves amidst strict advertising rules?

They can employ creative tactics, like using non-cannabis-related platforms, investing in radio and billboard ads, and crafting narratives that resonate within the confines of legal restrictions.

3. Why should dispensaries offer varying price points?

Because customers have different preferences and budgets. Offering a range of prices ensures that the dispensary can cater to a wide consumer base, from premium to value-conscious shoppers.

4. How can dispensaries prepare for changes in cannabis regulations?

By staying informed, being adaptable, and having contingency plans that allow the business to pivot and capitalize on new opportunities presented by regulatory changes.

5. What is a common regret among cannabis entrepreneurs regarding investment?

Many entrepreneurs feel they should have managed investor relationships more strategically or considered different approaches to handling investments, highlighting the need for caution and foresight.

6. Why is staff education as vital as customer education?

Staff education equips employees with the necessary knowledge to offer excellent customer service, advice, and guidance, enhancing the overall retail experience and ensuring customer satisfaction.

Conclusion:

When you step back and look at the forest for the trees, it’s clear that the cannabis retail experience is a delicate dance between education, market strategy, and legal acumen. By embracing innovation and fostering both customer and employee knowledge, dispensaries set the stage for success. As we’ve uncovered, it’s not just about what’s on the shelves but the wisdom and care that curates the consumer journey. Let’s watch as this industry continues to blaze trails and, quite possibly, redefine retail as we know it.

Find Ryan Hermansky & Noble Herb Below:

https://www.linkedin.com/in/ryan-hermansky-a235248?trk=public_post-text

https://www.linkedin.com/company/noble-herb-dispensary?trk=public_post-text

https://nobleherbaz.com/

https://www.instagram.com/nobleherb_az/

 

 

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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