“Discounts will hurt your margins, but loyalty points won’t,” said Lisa Williams, founder of The Toke Agency, at Benzinga’s Cannabis Capital Conference on Oct. 9.

Williams was one of several experts discussing how cannabis retailers can use data to not only improve margins but also strengthen customer retention.

The panel, titled “Maximizing Margins: Leveraging Data for Effective Cannabis Retail Pricing and E-commerce Strategies,” was moderated by Debra Borchardt, co-founder of Green Market Report.

See Also: EXCLUSIVE: Cannabis Tech Leaders Push Personalization, Data Insights As Key To Beating Price Wars

Williams said that the real key to maintaining margins in cannabis retail isn’t slashing prices — it’s using data to build loyalty. By offering perks such as points or exclusive access to events, dispensaries can entice customers to come back.

“How you build loyalty is you give them rewards for keeping them,” Williams noted.

Williams’ point was simple: build a brand that encourages loyalty rather than price-driven shopping.

Turning Messy Data Into Actionable Insights

Kris Walker, co-founder of Hoodie Analytics, took the conversation deeper into how data can drive better decisions.

“The trick is not just collecting data — it’s making sure you have the processes in place to leverage it,” Walker said. His …

Full story available on Benzinga.com