New Frontier: Software That Can Help You Weed Out The Best Strains
The Software That Can Find Good Cannabis Strains from CannabisNet on Vimeo.
One of the many major hurdles being faced by cannabis businesses is the sheer inconsistency of their products. Sometimes even a single cannabis strain can differ from plant to plant, making it almost impossible to standardize products and extremely difficult for businesses to choose which strains to grow, keep on inventory, and offer to customers.
The Solution: New Frontier
New Frontier is a data collection and reporting firm specializing in the cannabis industry. The company is at the forefront of marijuana business intelligence and also provides data and analytics for businesses. New Frontier gets their data from all over the nation, with sources including government, trade associations, operators and strategic partners. Cannabis businesses and pro-marijuana supporters can benefit from their data because they are all linked to data from real estate, crime, demographics, and energy so that it becomes much easier to understand how these factors affect each other, all of which are crucial to understand in this day and age as we fight for legalization.
For all of the budding ganjapreneurs and existing cannabusinesses out there, you can also benefit from using New Frontier’s data and analytics platform called Equio. The program dashboard is designed to save you time and as much as $85,000 in valuable market research. It’s especially useful for those who own several dispensaries in different locations, because Equio can help you better understand and compare the performance of these dispensaries in a specific time period.
In just a few seconds, Equio will give you an immediate result and enables you to compare it with the regional average. How amazing is that? This way you can easily know which location is lagging, in just a few clicks of the mouse. That’s not even all – Equio’s dashboard also has a products performance section where you can view the strains you offer and it will tell you which dispensaries belong to the underperforming locations. This way you’ll immediately know one factor that contributes to the branch’s underperformance.
Next, Equio’s consumer behavior analytics feature will then be able to tell you what strains people are buying. Through real time information, you’ll find out what’s trending, being talked about, and bought by consumers. It will even tell you which strains are trending on social media. No other product in the market analyzes cannabis data from millions of sources and processes them for you to apply directly in your business so you can make smarter decisions. It even comes with a tool to tell you if the popular strains are even selling well on the market. Through real-time information you’ll know what the top selling strain is in other dispensaries that are in the same region as you. Without this kind of data, business owners have to face a trial-and-error approach, which can be costly down the road, when deciding what kind of products to grow and sell.
Equio’s vendor section lets you purchase inventory straight from cultivators either by strain or by vendor. If you already have a certain strain in mind based on the social media data and customer behavior analytics, you can see it on the dashboard and choose your grower based on different factors such as their rating, price, and the quantity that they have available. Then all you need to do is order and have it delivered straight to your underperforming dispensary location. Since you can choose vendors according to their location, you can enjoy peace of mind knowing that the new, more profitable stock, will arrive at your doorstep fast. In just a few minutes, you’ve removed a poorly performing product with a proven top-seller in the market, one that you know can help you earn more $$$.
But it doesn’t stop there- you can’t make the cash without your buyers knowing about the new arrival, right? One of Equio’s most well-loved tool is the campaign feature which helps you launch email campaigns or even target specific people in social media who are influencing the movement of the popular strain.
Voila! Business problems solved, and you’ve even got a multi-channel marketing campaign to boot!
Thanks to more companies like New Frontier, cannabusinesses can soon enjoy more profitability because of access to the same amount of data that other industries have.
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