When it comes to burgeoning business markets, few have shown as much potential as legalized cannabis. According to analyst reports, the global cannabis industry is expected to reach as much as $74 billion by 2027, driven predominantly by medical and adult recreational usage. North America alone is projected to hold more than 80% of this market share.
Many midsized cannabis businesses, including growers, farmers, dispensaries and distributors, have already benefited from this growing trade. To sustain this expansion and help capitalize on future opportunities, it is essential for cannabis businesses to leverage key technologies. If you own a cannabis company and plan to grow the business, customer relationship management (CRM) software is one technology to consider onboarding.
Managing customer data, capturing leads and responding to customer requests are some common functionalities of CRMs today. However, since the cannabis industry is always evolving, a CRM solution should offer more than the basics. CRM systems are an invaluable tool for marketing and building customer loyalty programs. As business owners, we all know that the best customers are repeat customers, and a CRM can help nurture those customer relationships effectively. But the complexities and moving parts associated with running a cannabis business require features that many CRMs simply don’t offer.
If you’re running a cannabis company and looking to implement a CRM that can advance your entire business operation — not just parts of it — then you might want to consider a solution that includes the following features.