7 Mistakes Made When Buying Wholesale Concentrates
1. Consistently seeking the lowest price point, rather than the highest quality
Many dispensaries (and businesses) very understandably seeking the lowest price point as their number one guiding point. This is a common mistake that we’ve discovered interviewing buyers. The challenge is that sometimes you could lose a customer forever after one bad experience. The cost to acquire new customers is typically 8x more expensive than keeping the ones you already have, according to Marketing Expert Neil Patel.
With the saturation in the Colorado market, losing a customer can be a much more pricey mistake than investing in top-quality concentrates at the best price point you’re able to afford.
2. Going with hype brands, missing out on hand-crafted small-batch artisan concentrates
Choosing mass production hyped up concentrates may seem like a great choice because of the brand recognition- but by focusing solely on them buyers lose the opportunity to stock hand-crafted small batch concentrates.
The Colorado demographic, with it’s strong environmental and local-forward shopping culture, particularly cares about hand-crafted artisan brands. For the selective top shelf cannassuer, artisan brands are considered more desirable for the exclusivity.
3. Gaps in knowledge about cannabis consistencies
From our interviews, we’ve discovered that at times buyers and wholesalers are not always versed in the types of concentrate consistencies. There are many different types and it's easy to get confused.
We offer a simple guide to our consistencies, and our team of experts are on call to assist dispensaries and clients to select the perfect consistency.
We also offer in-store posters, flyers, and post-cards to assist cannassuers in choosing their desired concentrate consistency.
4. Not sampling products before putting it on the shelf
Dispensaries will often put concentrates on their shelves because of brand recognition, without taking the time to sample the products for quality. By doing this, dispensaries lose new customers who may never complain but also do not return to the store.
We recommend that both buyers and budtenders sample products to best understand how to help consumers choose the right products.
5. Failing to take feedback from budtenders & consumers
It’s not likely that this is a mistake you’re making since you’re reading this blog, but it can be a costly mistake by other buyers. At times, buyers and owners believe that they know what works because it has in the past.
However, Budtenders keep their finger on the pulse of what is most current in the market since they talk to customers all day. They are an invaluable resource for discovering what could be the next best seller!
6. Getting hung up on promotion
Purchasing quality wholesale concentrates is really just the beginning. Top dispensaries will host vendors for Pop-Ups, co-promote on social media, and have content in stores for concentrate companies.
We see a lot of companies failing to post regularly on social media. There is so much room for opportunity for extremely cost-effective marketing on social media, especially Instagram due to its visual nature.
If dispensaries do not have a budget to outsource marketing, often times there is a budtender who would be perfect to grow into the role!
Simple ways to build social media is to re-post wholesale concentrate pages content, like ours! Make sure to educate staff on Instagram & Facebook’s policies to prevent getting shut down and losing valuable time and energy put into building your online presence.
Our Marketing Director, Kimberly, wrote an article on LinkedIn on the 3 Biggest Mistakes on Instagram and How to Fix Them.
7. Believing common misconceptions about quality
It’s often thought that highest quality concentrates are light, but in truth, there are other factors that make a concentrate truly the most potent and healthy for the consumer!
The best way to truly know is to sample the products and have your most discerning budtender try them too!
We’d love to send you samples. We specialize in top shelf concentrates, such as our Hashbergs, Rocks and Sauce, Diamonds and Terpene Sauce Cartridges. We offer an array of options you can find out more here!