Integrating B2B data, marketing and sales in the cannabis industry

The integration of sales and marketing is critical to the success of the cannabis industry, and the most effective way to integrate these two functions is through the strategic use of data. According to Outfunnel’s 2022 Revenue Marketing Report findings, B2B companies with tightly aligned sales and marketing departments are 70% more likely to experience revenue growth than companies that haven’t integrated their sales and marketing teams.

Now is the time to break down the barriers between sales and marketing, and by providing these two teams with useful data they can use to achieve common goals, your business will reap the rewards.

Use a CRM tool for data, marketing and sales integration

With a customer relationship management (CRM) tool, your data, marketing, and sales can be fully integrated as part of a data-driven business strategy. There are three key steps to integrating data, marketing, and sales in a CRM tool:

1. Integrate sales and marketing goals and key performance indicators into your CRM software.
2. Integrate sales and marketing communications with your CRM.
3. Integrate sales and marketing workflows into your CRM.

To know all the details about these three integration steps, read the full guide: How to use a CRM tool to integrate sales and marketing for better results.

For example, if your target audience is cannabis or hemp license holders in the United States, Canada, or international territories, the Cannabiz Media License Database offers comprehensive CRM and email marketing capabilities to enable your integrated sales and marketing teams to identify and track verified leads , communicate transparently, increase productivity, work towards common goals and close more sales.

When your sales and marketing teams have access to the data they need and the tools they need to use the data effectively, your business will see a higher return on investment for leads throughout the buyer journey.

3 essential types of sales and marketing data

Below are three types of data that every cannabis company and side business should collect and use to make better decisions and maximize sales and marketing results.

1. Market Data

The cannabis industry is growing and consumers are changing. The old stereotypes of cannabis users as lazy stoners are a thing of the past, and customer data is more important than ever to meet the needs of modern cannabis users.

Recent studies by Dutchie and Flowhub have both shown that today’s cannabis users are highly educated, successful and health conscious. Dutchie reported that the majority of cannabis users in 2022 will be women, and Flowhub noted that there is increasing diversification among cannabis users.

As the cannabis industry becomes more competitive in the near future, brands that use market data to launch new products that deliver what consumers actually want will win. The days of competing for THC quantity are over, but without actionable market data, companies won’t be able to create the right products, label details, and marketing messages to motivate the right consumers to buy their brands.

Customer data is also important for business-to-business (B2B) companies targeting cannabis and hemp license holders. For example, Cannabiz Media License Database subscribers can quickly determine potential market sizes based on license activity, location, canopy size, grow environment, lighting type, extraction type, number of employees, point-of-sale software, and more. This data is critical to defining market opportunities and identifying the best market investments.

2. Customer Data

Customer data is becoming increasingly important as the cannabis industry becomes more competitive. Brand differentiation, messaging and product development are heavily dependent on market segmentation, customer preferences and competition. You need reliable customer data to effectively segment audiences, create marketing programs that appeal to each audience, and beat your competitors.

To collect, analyze and use customer data to improve your sales and marketing results, you need access to the cannabis industry’s best CRM tool. For example, subscribers to the Cannabiz Media License Database can access hundreds and hundreds of data points relating to individual cannabis and hemp license holders. With this data, they can send targeted and personalized email campaigns, make personal connections via phone or social media, build sales pipelines, conduct research, and more.

As a result, Cannabiz Media License Database subscribers can make better business decisions because they have access to the sales and marketing data they need to meet their business goals. The key is both reliable data and a comprehensive CRM tool to use the data efficiently and effectively.

3. Industry Data

The cannabis industry is still young and changing daily. To be successful over the long term, you need to keep up with industry changes and trends. That means you need access to reliable industry data. Going forward, the leaders in the cannabis industry will be the companies that proactively seek out and capitalize on new opportunities, and they will use data to find and evaluate those opportunities. The bottom line is that data is more important than ever in the cannabis industry.

It can feel overwhelming to keep up with all the changes in the cannabis industry on a daily basis, so the Cannabiz Media License Database offers subscribers daily alerts, customizable industry updates, industry news, and more. For companies targeting cannabis and hemp license holders, it’s easy to search and filter news updates and quickly find relevant updates in the license database. With this data, subscribers can create more effective sales and marketing programs, identify opportunities and avoid threats to ensure their continued success in the future.

Financial data, mergers and acquisitions data, patient data, government sales data, wholesale flower price data, and other industry data for research, investment, and strategic planning are also important to many organizations involved in and with the cannabis industry. The Cannabiz Intelligence™ platform provides a wealth of information to help you model market growth, forecast sales of medical marijuana affected products, and assess market dynamics and size.

Key insights on integrating data, marketing and distribution in the cannabis industry

Data is power in business today, and the cannabis industry is no exception. As markets grow and become more competitive, data becomes more important than ever. The companies that have processes for collecting, analyzing and using data will win in their markets in the future.

For companies working in and with the cannabis industry, the Cannabiz Media License Database is filled with verified cannabis and hemp license holders. Comprehensive CRM and email marketing tools are integrated so your data, marketing and sales can be fully integrated. Schedule a demo to see how it can improve your business outcomes.