How to Use PipelineDeals in the Cannabis Industry
By John Serrantino, Sales Director at PipelineDeals
By now, the cannabis industry is well aware they should be using PipelineDeals to effectively manage their relationships and grow their business. But how can they see the most impact on their bottom line with PipelineDeals?
By evaluating the use cases of our customers in the cannabis industry, we were able to put together a simple guide for getting the most out of PipelineDeals.
1. Track Potential New Sales Opportunities
This one may seem obvious, but our research suggests over 65 percent of producers and processors aren’t tracking potential sales opportunities in any formal manner.
Through the implementation of a sales software like PipelineDeals, you’ll see a clear and immediate impact on the reach of your business.
For starters, you’ll have all the data (shops) in one place—which brings a sense of transparency to everyone in the business.
Segmenting those that have placed an order (Existing) from those that have not (New) is the next win for your business. It enables quick answers to big questions like, “What percentage of the market have we penetrated?” or “Which products are moving at the highest rate?” For most of the cannabis industry, those answers are currently confined to clunky ERP systems or government mandated seed-to-sale softwares that lack a friendly user experience.
With PipelineDeals, you’ll be able to track new sales with email tracking. You’ll also get a clear history of client interactions at the click of a button, both via desktop and mobile.
In an industry where the relationships you have with budtenders and general managers makes such an impact on your bottom line, having a record of your conversations is critical.
2. Establish Clear Touch Points with Existing Business
Relationships are everything. PipelineDeals’ core competency is helping businesses nurture and grow relationships.
In cannabis, the budtenders are the gateway to your product. They spend the majority of their day making recommendations to consumers. And with many states adopting strict regulations on sample quantity, it can be difficult for everyone to experience your product.
This can lead to knowledge gaps, which can ultimately slow your brand’s growth. But regulatory hurdles aside, it is critical to have strong relationships with the shops you are already distributing to, even if that relationship doesn’t include samples for the entire staff.
Luckily, PipelineDeals features customer management, a revolutionary way for producers/processors to solve the problem of standardizing touch points and monitoring the health of existing relationships.
In the above example, we are focusing on both securing a reorder and selling a new SKU into an existing customer. You’ll also note Health Status, designed to provide quick insight into any changes within the account.
Another key concept for producers/processors is milestones. Milestones are the key events within the lifecycle of a customer that we are tracking. In this case, we have a reorder that is “In Progress” but are “Blocked” in our efforts to sell a 2nd SKU into the shop.
3. Create Email Campaigns and Share Them With Your Team
PipelineDeals makes it easy to send targeted email campaigns to shops. This enables sales reps to spend more time visiting and calling, rather than crafting emails.
Within PipelineDeals, campaign results (opens, clicks, downloads) are tracked both in real-time and in a digestible report. These smart campaigns are shown to increase margins and frequency of reorders by showing exactly which emails are resonating with shops.
4. Conquer Shop Turnover and Confusion it Can Cause
Recreational and Medical shops are retail environments, and consequently, turnover happens. That can make connecting with the right person challenging.
PipelineDeals allows for more than simply tracking all employees. With the Key Contacts feature our clients can focus in on their most valuable relationships.
This type of visibility will eliminate confusion in your business and create a smoother experience for your customers.
5. Quick Reports Aid in Smart Decision Making
From PipelineDeals, producers and processors can compare the performance of SKUs, sales cycle length, revenue by month, revenue by region, and just about any other custom variable they desire.
The primary focus has been getting away from clunky ERP and seed-to-sale reporting, which is ultimately not actionable for sales reps. PipelineDeals’ insights have enabled our producers and processors to make fast decisions.