If you are not texting today or you are using a less complex texting platform, here are some points to consider to justify a more robust service. Statistics show that the average dispensary sale is $54-$59 per visit. Be aware however, that this range can vary depending on what part of the country you are in and if you are a recreational or medicinal shop. But lets use this range for this particular use case. With text opening rates at 98%, texting becomes a valuable tool to entice customers back to your dispensary. Further, some internal stats on texting with a coupon or picture (MMS Text) vs. simple message texting (SMS) has shown to produce as high as 20-25% more redemptions on an offer.
In other words, if you can get 100 people into your location when you text 2000 text club members via messages in SMS, you should be able to get another 20-25 people visiting with a coupon/picture or MMS message. At $54-$59 average spend, that’s another $1,475 on a high end and $1,080 on the low end with ONE text campaign. So, if we do some math that means $5,900 in sales (100 people at avg sale of $59) just became $7,375 in sales! Some shops text once a day, while others text a couple times a week. You can quickly see how using a MMS service with coupons can pay for itself quickly and be quite profitable for your location(s). Using these stats with an average shop (2000 text club members) doing 2 texts a week will produce an additional $12,000/month or $144,000/year in sales. If you have multiple shops, this begins to exponentially increase.
Taking it once step further, if you were to leverage a survey to gauge what your customers/patience truly like or prefer, your text messages could be more pinpoint with offers specifically to those who a particular message will resonate with. Thus, increasing the redemption rate of an offer even higher!
What are you doing for text marketing today? If you would like to consider your options, message me and lets see if text message marketing is right for you.
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