Baker Archives - Green Market Report

William SumnerMay 7, 2018

It’s safe to say that the cannabis industry is growing up. Less than a decade ago, the majority of cannabis users were still purchasing from black market dealers. Fast forward to today, where recreational cannabis is legal in eight U.S. states and medical cannabis is legal in most of the country. People are no longer buying cannabis in parking lots, they’re buying it in dispensaries and they’re buying it online.

For cannabis companies hoping to make their mark in the industry, setting up their own e-commerce shop is a great way to gain visibility and get more customers. But as they say, the devil is in the details, and for those that lack the acumen for web design, there is a bevy of B2B cannabis companies that can help you set up your e-commerce shop.

Here are the Top 4 Cannabis Companies that offer e-commerce solutions:

Baker
Baker is an extremely popular e-commerce platform. Like many B2B e-commerce platforms, Baker can help dispensaries monetize their website through the addition of a digital menu, online checkout, and customer loyalty programs. But what makes Baker shiner brighter than most is its ability to integrate and communicate with other digital cannabis platforms, which is made possible through its recently launched API. Baker currently integrates with over 20 digital cannabis platforms, including FlowHub and Leafly.
WeedHero
WeedHero is a small company based in Portland, Oregon, that aims to smooth out interactions between medical cannabis dispensary owners and their consumers. Its full-featured marketing software is designed to make it easy for dispensaries to turn their websites into an e-commerce marketplace. With WeedHero, customers can browse search-engine friendly menus, choose between pickup or delivery, and even categorize their favorite product. WeedHero also offers free installation and a risk-free 15 day trial.
Green Marimba
Green Marimba offers a wide array of web-based services, including e-commerce services. Like Baker, Green Marimba offers multiple integrations with various web platforms. Unlike Baker, however, most are not directly related to the cannabis industry, with the exception of metrc. Green Marimba also offers services such as cannabis legal compliance, supported by a team of Colorado-based attorneys, and seed-to-sale inventory tracking.
365 Cannabis
365 Cannabis offers a suite of digital tools for medical cannabis dispensary owners, from built-in POS software to e-commerce solutions. With 365 Cannabis, dispensary owners can set up their own e-commerce shop and customers can order cannabis online for pick up or delivery. From the dispensary side of the equation, employees can track which patients use their dispensary as well as the kinds of products they purchase. 365 Cannabis also features both B2B and B2C configurations, so that individuals can sell to both businesses and patients.

Did we miss something? Who is your go-to for e-commerce solutions? Sound off in the comments below!

Jack SmithDecember 15, 2017

Marketing automation platform Baker, the self-described “Salesforce of Cannabis,” has received $8 million in a new Series A funding round.

The new funding will let the Colorado-based Baker keep growing, particularly in California and Washington, where it recently acquired Seattle-based Grassworks, the second-largest customer relationship management platform in the cannabis industry. It will also use the funds to open an office in Los Angeles, starting next year.

“We’ve built the industry’s leading CRM product, and now we’re truly focused on providing a platform to allow Baker and our partners to offer best-of-breed solutions to our massive retail network,” Joel Milton, CEO of Baker said in a statement. “This funding will allow us to continue to execute on our platform strategy, and help all of our clients grow their businesses — including those in California gearing up for adult use.”

The funding round was led by Poseidon Asset Management and includes other venture capital firms, such as Panther Opportunity Fund and Phyto Partners. It also included participation from previous investors. The $8 million in funding is on top of $3.75 million the company has previously raised.

Keeping Dispensaries Happy

Baker uses what it describes as unique “data-driven approach” to help cannabis dispensaries keep customers happy and boost revenue. The company boasts that its clients see a 40% boost in order size and a 300% return on investment in just six weeks. Its software is used by over 700 dispensaries across the country, helping the company attract the new funding.

Baker has also created a robust customer loyalty program that dispensaries are using to tap repeat business. Loyalty programs are relatively new to cannabis retailers but are quickly becoming a favorite way to communicate with customers.

“Baker has continued to grow at an impressive rate, and is breaking away from the pack in a big way,” said Morgan Paxhia, Co-founder and Managing Director at Poseidon Asset Management. “Unlike anyone else in the space, the team continues to cultivate and craft unique solutions for its customers and scale at a remarkable rate.”

Debra BorchardtNovember 22, 2017

Most people know about Black Friday, but did you know about Green Wednesday? The day before Thanksgiving, cannabis sales spike. Eaze cannabis delivery service in California found that deliveries increased by 62% on the day before Thanksgiving and thus the name was born.

Eaze has also determined that Green Wednesday is the second biggest day for cannabis sales in California, second only to April 20. In the company’s 2015 report, sales bumped up before the big meal and then really popped following the big meal.

Cannabis analytic firm Baker said that they found that last year on Weed Wednesday, as they call it, orders rose by 55% and the order size increased by 25%. Baker also noticed that Black Friday sales fall, which is why they think order sizes rise on Wednesday. Consumers are stocking up before stressful family gatherings or to celebrate with friends when they go back home. The order size falling on Friday could also be due to the numerous discounts being offered by dispensaries.

Cannabis companies are very aware of the holiday shopping and many have jumped to capitalize on it. Dispensaries hire extra staff as traffic climbs by three times the normal amount on Wednesday. Baker CEO Joel Milton said, “Everyone is stocking up on the sales with a long weekend to recover from over-eating (leftover stuffing). Cannabis helps when you feel full.” Milton also added, “We see more prerolls are sold. People are tired or full and want something easy. It’s also an easy item for dispensaries to markdown.”

Dispensaries also use the holiday as a way to do customer outreach. “On Weed Wednesday, our dispensaries broke the daily record for messages to customers and patients sent by 22%. On Black Friday, they broke it by 33%,” Milton commented. Baker also learned that Loyalty Program Usage went up by 65% in the holidays compared with the last two months.

It isn’t just the bricks and mortar stores that see their numbers go up, online sales enjoy a holiday boost as well. Last year on Cyber Monday cannabis sales increased 70% over an average day. The total monetary amount of online orders was at least 230% over the daily average. Online orders overall went up 77%.

Baker’s data came from seven states including Colorado, California, Washington, Oregon, Nevada, Arizona and New Mexico. Oregonians give thanks the most with sales jumping by 14%, followed by Colorado, whose sales increased by 7%.

Cannabis Thanksgiving Specials

“We hope both existing customers and new customers will accept our invitation to give the gift of balance and wellness with CBD this holiday season,” said Chris Husong Chief Marketing Officer for Elixinol. “With all the stress and late nights during the holiday season, it easy to forget to take care of yourself. That’s why now is a good time to give your entire body the CBD boost it needs to keep you going through the holidays and beyond,” he continued. Elixinol products go on sale only once per year and this is it. Elixinol is offering Buy One Gift One to help everyone spread the joy of health and wellness on Black Friday.

Magical Butter said they did about $170,000 worth of business during the Thanksgiving holiday last year. This year MagicalButter’s “Green Week Sale” will cover both Green Friday and Cyber Monday, running the entire week from November 24th to December 1st. $174.95 Bundle ($50 OFF as this retails at $224.95 before tax/shipping)- MB2e Machine, Baking Mats, MB Butter Mold – 1 pack, MB Spatulas 3 – Pack PLUS Free UPS Ground Shipping ONLY for the USA. The MB2e Machine Only for $134.95 ($40 OFF)

Beginning Nov 22 and ending Monday night at midnight PST, Goldleaf is hosting their biggest sale of the year—18% off everything with the code: HOLIDAYGOLD. Goldleaf is celebrating the holidays with the release of 7 new cannabis posters—Infographics, Illustrations and Lifestyle prints for the cannabis enthusiast.

Elevate Accessories will be participating in Black Friday and Cyber Monday—Whether you are buying a gift for a loved one, or for yourself (we don’t judge -we know you’ve been eyeballin’ something), this is the time to act. For the next 5 days, you can save up to 40% on select items. They are even offering gift cards at 10% off, so you save later too. Our best sale prices of the year!

KushKards will be promoting a special ad campaign for Cyber Monday & the holidays. Celebrating Cyber Monday with the launch of holiday box sets and celebrating Green Friday with the “Smoke Together” campaign: “Step outside, step away from social media and technology, and light one.”

On Black Friday and Cyber Monday, Resolution in Colorado will be doing a cleaner bundle pack: 2 ResGel and 1 ResCaps for $24.99, which translates to trying the set of ResCaps for only .99 cents with the purchase of two cleaners. Plus, Res Caps for $10 dollars (usually $16).

And finally, A new Nuggy video will launch for Weed Wednesday. Visit NugTools on Youtube to see it. They’ll be offering 20% off all products plus free shipping starting on Weed Wednesday and ending on Cyber Monday.