The days of pouring millions into cannabis brand-building with no means of tracking impact are ending.
Brightfield Group is excited to announce a first-of-its-kind consumer data solution: Retail Brand Health. Using first-party consumer data, Retail Brand Health helps US cannabis retail dispensaries track how consumers perceive their brands, including those who have never shopped with them or even know their name.
With Brightfield Group's Retail Brand Health Tracker, cannabis dispensaries of all sizes can amplify point-of-sale data by tracking consumer sentiment across the sales funnel. This new perspective helps retailers strategically allocate budgets to increase sales, drive repeat customers, and build long-term loyalty.
What is Brand Health?
The Raw Data
The technology is powered by a bi-annual survey with a sample size of over 5,000 verified US cannabis consumers. Brightfield provides Retail Brand Health data on over 150 US Cannabis Retailers starting with 11 states at launch.
The survey focuses on understanding consumers' existing and potential relationships with both dispensaries and cannabis itself. Brightfield targets three stages in the sales funnel⸺Awareness, Purchase, and Satisfaction⸺as well as overall brand perception, benchmarked against other key players in the space.
The Dashboard - Putting it to Use
Our interactive dashboard allows users to drill down for a customized view into their performance, both independently or compared to others in the industry. Nuances of consumer demographics, behaviors, and cannabis consumption patterns can all be explored with a few clicks to answer the most crucial questions.
How do your core brand metrics compare to your competitors? This data allows you to see if your efforts are working and, if not, what needs to be fixed.
- Are consumers aware of your brand?
- Have they considered purchasing with you?
- Have they ever purchased in the past six months? Or ever?
- Are they loyal to your brand?
- Will they visit again?
- Are they likely to recommend you?
- Are they satisfied, or are they looking to switch dispensaries? If so, why?
Who are your shoppers? We go beyond demographics and look at what consumers want in a dispensary, why they shop, and, crucially, if they're finding what they need at your locations.
- What are they looking for in a dispensary?
- How would they describe their favorite dispensary?
- How much do they spend per month?
- How much do they spend on each cannabis product?
What is your industry standing? Net promoter score is a fantastic brand health KPI to track. Millions of companies use it to gauge and monitor customer loyalty over time. With Retail Brand Health consumer data you can benchmark your score against your top competitors.
- What's your net promoter score?
- How do your rank against other dispensaries in your state?
- What percentage of consumers rank your brand as #1
Why Brand Health is Important
In most states, the cannabis industry is hypercompetitive. Customers have many options to choose from, so it's crucial to make each visit the one they remember.
Perfect your retailer brand positioning
Develop your brand strategy by understanding how your brand resonates with customers and find the whitespace in the industry you can capture and leverage. With the customer data in Brightfield Group's Brand Health Tracker, you can align all sales-facing teams around a stable set of facts, quarter after quarter.
Deliver on your brand promises.
Help Merchandising curate the right product mix to delight customers and keep them coming back. Give Sales the tools they need to identify and address training gaps with Budtenders and Management to ensure your entire customer experience is flawless.
Build your marketing scorecard
Marketing needs real-world data to create and clarify messaging that resonates. Crafting that perfect message is only possible when marketers know who your target customers really are and what they say they want. Further, our Brand Health Tracker data helps teams build a marketing scorecard to track and optimize marketing efforts across the complete customer lifecycle and ensure messaging stays relevant year after year.
Benchmark your performance against local competitors
Cannabis sales happen state-by-state, so our Brand Health Tracker includes consumer data categorized by each US state. Compare your retailer brand with other major retailers across every state where you operate to get ahead of the competition region by region.
- Nevada (W2)
- New Jersey
- New York
Why Brand Health is Different from POS Data
Effective performance monitoring in emerging markets like Cannabis requires an understanding from the consumer lens beyond POS sales data alone. Tracking the health and ranking of your brand⸺at both the retail and product levels⸺helps uncover not just what is happening but why. With real-world customer insights, brand health data is the missing piece to your full-picture puzzle.
What vs. Why
Sales data tells you what is happening at the shelf, but Brand Health trackers can tell you why it's happening. Who are you gaining/losing share from? How have your user groups changed or shifted? What habits do your users have that can clarify why you see what you see in the market? Consumer data helps you get to the meaning behind the numbers.
People vs. Dollars
Sales metrics generally do not tie each purchase to an individual. Instead, they show dollars spent on products by all consumers combined. Each consumer is then counted multiple times in sales data, so their impact is amplified. Thus, high-volume consumers are heavily weighted in this data. In Brand Health, each consumer's sentiment is counted only once, regardless of how much or how often they purchase.
Self-awareness vs. Industry-awareness
Sales data can show you your volume compared to other brands in the market. However, understanding the overlap of buyers across the competitive landscape isn't possible with POS data alone. Brand Health shows you what other brands your consumers are purchasing and helps you better understand the shelf dynamics that may be hidden behind pure sales data.
What Is vs. What Could Be
Many tools help you understand purchasers, but very few help you identify your entire addressable market, which includes both existing consumers and potential consumers. Consumer data allows you to track not only those who come in the door but also those who haven't come in yet. More importantly, you can learn why they haven't and what you can do to address it.
Allow us to demonstrate.
Give us just a few minutes, and we'll show you how to map growth opportunities in today's crowded cannabis market with Brightfield's Brand Health Tracker.
What makes a consumer decide which dispensary to frequent? Brightfield Group's new Brand Health study of the US cannabis retail environment seeks to answer that question.
This study looks at 11 legal cannabis markets in the US. Each retail environment is unique, and consumer segments will be drawn in by different retail attributes.