With the way the US cannabis market currently looks, it’s easy to get discouraged and overwhelmed by the competition for selling your products to retailers. But that doesn’t mean you should give up — research from MJBiz Daily predicts that the decade will see sustained growth of the industry as more states open their markets to adult-use consumers.
So, what is the best strategy for staying competitive in a crowded market? Learning how to sell to dispensaries. Research shows that employee recommendations play a pivotal role in the purchase decisions of consumers, so building positive relationships with retailers is key.
There are a few ways to build and maintain positive long-term relationships with retailers, and the best part is that nearly every cannabis brand can implement them.
1. Take Compliance Seriously
The truth is, many cannabis and CBD companies don’t keep up with regulation updates. Noncompliance has a catastrophic impact on a brand’s reputation and overall trust in the industry.
To form long-lasting relationships with retailers, you’ll need to develop solid compliance and quality assurance practices, and have the documentation to back up your claims.
You could accomplish this by having an outsourced or on-staff compliance specialist, but this is an extraordinarily expensive commitment. Even outsourcing these tasks is out of budget for most companies.
Another option is training your existing staff on compliance, but without someone actively monitoring compliance, it is too easy for mistakes to slip through the cracks.
Emerging technology is solving this problem by automating active compliance monitoring for less than the cost of a latte a day.
Qredible® allows brands to actively monitor compliance regarding their sales, marketing, and labeling across all digital channels. Using advanced machine learning and artificial intelligence, the software flags potential violations, protecting your business against harm.
Using Qredible shows retailers that you are serious about compliance. They can purchase your products with confidence knowing they’ll also be updated instantly in case your business commits a violation.
2. Validate Your Claims
This process can be immensely time-consuming, but it’s necessary. Unfortunately, too many companies make false claims. There are so many amazing brands operating in our industry, but retailers can’t tell whether or not you are one.
You could validate and verify your claims by keeping thorough documentation of your processes while also actively monitoring and displaying lab test results. This can take a lot of time and energy, but it’s necessary to establish trust in this industry.
Businesses in Qredible enjoy features that are designed to streamline this process, so they can benefit from the trust without the leg work.
3. Focus on Relationships
Establishing and maintaining trust should naturally result in improved business relationships, but there’s more you can do to foster friendships with retailers.
Go above and beyond. Ask yourself how you can make a product manager’s job easier. Free samples and loyalty rewards are a great way of showing appreciation for your buyers. Alternatively, you could work with a distributor who already has these relationships.
Build Trust and Sell to Dispensaries With Qredible®
Ready to sell to dispensaries? Qredible helps you foster strong, long-term relationships with retailers so you can grow your business. In doing this, we also cultivate trust and transparency across the entire supply chain.
Trust, transparency, and support to protect and grow your business: that’s what you’ll find in Qredible. Want to learn more? Contact us and let’s start the discussion today.