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How this B2B Brand Went Vertical into a “Budding” Industry
A major CRM company, Springbig, is blazing a trail. They’ve become a go-to provider in the industry they focus on, they’ve got a 98% customer retention rate, and have their entire staff supporting a brand purpose: Help retailers accomplish their goals, every day. On this episode, co-founder and CEO Jeffrey Harris explains how they managed to come into a new industry and quickly establish themselves as key players. The kicker? The area that Springbig pivoted to focus on is the rapidly flowering, marijuana dispensary industry.
The cannabis tech industry—think martech, but specifically for cannabis companies—is booming. Updated legislature and an overall cultural shift in perception are two especially large factors in this market’s rapid growth, and as such, a massive new marketplace is opening up, meaning companies have huge opportunities, but need to move quickly. Springbig recognized this and set to work identifying and understanding their target. Now, they’re sought out at industry conferences, expanding their vast clientele, and helping dispensaries optimize customer messaging with advanced metrics—After 4 visits, Springbig can actually predict with 90% accuracy what time a dispensary’s customers will have their 5th visit!
Tune in to this week’s episode to hear more about their rapid ascent in dispensary circles, their approach to quickly gaining an accurate understanding of the market, how they use marketing to foster loyalty, and more.