As the cannabis industry evolves, so grows the number of marketing agencies ready, willing, and able to serve this sector. The revenue potential of the cannabis industry is like a light to a moth.
It’s there, it’s hard to ignore… and many agencies want to get in the game!
Access to resources to engage consumers.
Many are missing a key element. That element is an effective sales effort to attract and convert customers!
Simply put, the best creative and the best execution of marketing strategies and tactics will not matter unless a cannabis marketing agency has customers. And, unless your cannabis marketing agency has a sales strategy that includes five important elements, survival in this space will be difficult.
Five Important Elements that Drive Sales
1. Salespeople and a Sales Plan
Sales will not happen without people or at least one person playing a dedicated sales role. Not having a dedicated seller or employing a part-time seller usually results in part-time new customer acquisition at best. If bringing in new customers is important to your cannabis marketing agency, then hiring and employing a salesperson should also be a priority.
By the way, the best salespeople have sales talent and follow a sales plan. Results will be limited without both elements. The sales plan should include:
Desired goals and outcomes
Methods to add prospects (leads) into a sales funnel and move them to customer status.
2. A Sales Funnel
An effective sales plan should be linked to a sales funnel (sometimes called a sales pipeline) that consists of the following:
Top of the Funnel (TOFU)—interested but not engaged
Middle of the Funnel (MOFU)—interested and engaged
Bottom of the Funnel (BOFU)—interested, engaged, and ready to purchase.
3. Lead Generation
Adding leads to the sales funnel rarely happens without a strategic and consistent mix of the following:
Sharing thoughts and insight related to the challenges faced by prospects serves as a magnet to prospects. This process takes time; however, leads start flowing once a lead generation plan is up and running.
4. Sales Enablement Resources
One of the biggest buzzwords in sales and marketing today is sales enablement. Sales enablement helps salespeople sell smarter and faster by enabling sales teams in four specific areas — strategy, content, technology, and training.
Here are a few examples along with a thought about each:
Customer Relationship Management (CRM)—linked to activity related to a sales funnel.
Sales Plays—a step-by-step process and information that sellers use over and over in the sales process (things like email and phone scripts used to engage new prospects).
Sales Automation—CRMs offer like HubSpot Sales Pro, offer the ability to automate research and engagement to new prospects or to reengage former prospects or clients.
5. Sales Collateral
The old story of the cobbler’s son has no shoes applies to many cannabis marketing agencies.
Developing effective sales collateral and sharing it with TOFU and MOFU prospects to enhance engagement are a must. Things like case studies (written or video), eBooks, blog posts, and infographics accelerate the sales process.
Sell or Perish
"Publish or perish" is a term describing the pressure to publish academic work in order to succeed in an academic career. A modified concept applies to cannabis marketing agencies, perhaps something like “sell or perish.” Your success depends on making the time and taking the time to thoughtfully consider the use of the elements in this post.