Cannabis Brands Get Innovative With Marketing Strategies, Conversions Sky-Rocket With Quiz Commerce
The U.S. legal Cannabis industry is poised for explosive growth – according to a recent report from Colorado-based cannabis research firm, BDSA, legal cannabis sales in the United States passed $17.5 billion in 2020, an unprecedented 46% increase in sales from 2019. The report projects that by 2026, legal sales in the U.S. will reach $41.3 billion annually – that’s a market share nearly the size of the craft beer industry. Yet, because cannabis is illegal under federal law, brands and marketers are met with restrictive advertising regulations, and frustrating roadblocks. What’s a cannabis brand to do? A growing number of cannabis companies are getting innovative with their marketing strategies, and grabbing their slice of the $17.5 billion dollar pie by leveraging the power of quiz commerce.
Quiz commerce is the gamification of consumer interactions personalizing all stages of their journey from engagement, education, and conversion. Businesses are using technology like Jebbit, a no-code platform which allows anyone – from the absolutely non-technical to technical – to easily create and embed engaging product match quizzes, surveys, personality quizzes or lead forms on their websites, mobile apps, and digital ads. For consumers, it’s an entertaining way to learn about products, answer a couple of fun questions that cut through the guesswork and quickly find the best product tailored to their unique needs. At the same time that consumers receive immediate value, businesses get more than just an email address – they also get first-party, declared data and valuable psychographic marketing insights about their client’s motivations, interests and preferences.
With Google’s recent announcement that they will no longer use cookies – tracking technology that stores an individual’s information and browsing history and is used to track advertising sales and other conversions – and sell ads based on third-party data (cookies), the digital advertising business as we know it will have to be completely re-shaped. Without cookies, how will advertisers and brands collect valuable, insightful consumer data? Quiz commerce is poised to quickly become an integral marketing strategy as brands will need to compensate for the demise of cookies and third party data, resulting in the urgent need for more effective audience targeting and investment in growing first-party customer data assets to build long-standing, profitable relationships.
Beam, a leading direct-to-consumer CBD brand, needed an innovative way to not only reach consumers, but also educate them about the nascent cannabis industry and their product offerings and applications. In just two days, Beam was able to create a custom, product match quiz on their website using the Jebbit platform, effectively solving both challenges by grabbing customers’ attention and guiding them to the correct product for their needs. Additionally, the team had complete visibility into how customers were interacting with the experience, offering insights into preferences and behavior. And, because nothing was hard-coded, they were able to quickly edit & optimize the quiz based on what they saw. Since launching their product match quiz in spring of 2020, over 19,000 customers have engaged with the experience, completing it at a rate of 87% and converted customers to purchase at a significantly higher rate than ever before.
The global COVID-19 pandemic has added additional challenges for CBD brands, and the entire retail ecosystem. With the reliance on brick-and-mortar store experiences and in-person interactions with consumers abruptly stripped away, brands have had to completely pivot and re-think their digital strategies. Beam integrated a quiz commerce strategy to solve for the lost in-store experience and exchange privacy safe first party data. Alyssa Warth, Beam’s Director of Growth said, “our Jebbit product match quiz gives us the ability to educate and convert our customers in a fun & engaging way, while also offering the data we need to improve experiences at every stage of the customer journey.”
In order to address the urgent demand from brands needing to transform their digital customer experience, Jebbit recently announced the expansion of its growing partner network with the launch of their Shopify app and Klaviyo partnership. Shopify’s more than one million businesses and merchants can now use Jebbit to create product match quizzes that easily and seamlessly pull their products into the outcome recommendations in their quiz, driving higher lead capture and conversion while gathering customer preferences. Those leads and attributes can then be automatically passed into their Klaviyo account, increasing the size of their database and fueling personalization based on the consumers’ stated interests and preferences. Using ‘owned’ first-party customer data from partners like Jebbit, Klaviyo helps over 50,000 ecommerce businesses grow revenue and get closer to their customers.
420GrowLife
via www.KahliBuds.com
Amelia Wright, KahliBuds, 420GrowLife
