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AI in Cannabis: Boosting Dispensary Success With Terpli

In the latest episode of Marketing That POPs, Michele Ringelberg and Olivia Johnson host Eric Mercado, the Co-founder, COO, and CFO of Terpli, to talk about AI-powered product recommendations for dispensaries. Eric shares marketing campaign strategies for dispensaries, the use cases for Terpli, and the platform’s subscription model and offerings.

eric-mercadoEric Mercado is the Co-founder, COO, and CFO of Terpli, an AI-driven product recommendation tool for dispensaries. As a high-performing entrepreneur, business advisor, Big 4 assurance manager, and CPA, he has experience in private and public sectors, working in industries, including cannabis, consumer products, real estate, mining and metals, recycling, oil and gas, and manufacturing. 

 
  
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Here’s a glimpse of what you’ll learn: 

  • [1:28] Do all cannabis products cause “the munchies”? 
  • [5:58] How cannabis effects vary 
  • [9:02] Eric Mercado shares Terpli’s founding story and mission
  • [16:57] The use cases for Terpli
  • [25:40] How dispensary owners can integrate Terpli into their business models
  • [31:12] An overview of Terpli’s software integrations
  • [34:31] AI’s role in providing personalized product recommendations to cannabis consumers
  • [37:49] Marketing campaign strategies for Terpli and its dispensary clients
  • [53:47] Terpli’s subscription model and offerings
  • [1:03:48] What’s next for Terpli?

In this episode…

The cannabis industry is still in its infancy, so many inexperienced consumers believe high THC levels correlate with higher-quality products. Yet individuals react differently to the various cannabinoids present in cannabis, with some not able to tolerate high THC levels. How can dispensaries empower their budtenders to provide personalized recommendations to consumers?

After experiencing an adverse reaction to a particular terpene present in high THC products, Eric Mercado developed an AI-driven platform that educates consumers on cannabis products beyond THC levels. Rather than replacing budtenders, AI can personalize recommendations and provide insights into product chemistry, allowing budtenders to help customers make informed purchasing decisions. With these tools, dispensaries can increase their sales, cart sizes, and customer bases.

In the latest episode of Marketing That POPs, Michele Ringelberg and Olivia Johnson host Eric Mercado, the Co-founder, COO, and CFO of Terpli, to talk about AI-powered product recommendations for dispensaries. Eric shares marketing campaign strategies for dispensaries, the use cases for Terpli, and the platform’s subscription model and offerings.

Resources mentioned in this episode:

Quotable Moments: 

  • "It's not just about how high the THC content is, but rather finding the right chemistry for your desired experience." 
  • "Terpli's AI doesn't replace budtenders; it empowers them with knowledge and tools to better assist customers." 
  • "Utilizing AI in the cannabis industry is about enhancing the customer experience and fostering lasting relationships." 
  • "We have to move beyond the simplistic and often misleading indica-sativa hybrid categories to truly understand cannabis effects." 
  • "Data-driven personalization is the future of cannabis retail, creating a tailored experience for every shopper."

Action Steps: 

  1. Introduce AI tools like Terpli to your cannabis dispensary to improve customer shopping experiences: This tech can help fine-tune recommendations based on customer preferences, thereby enhancing satisfaction and loyalty.
  2. Leverage data analytics from platforms like Terpli to understand customer preferences and adjust your inventory accordingly: By tracking desired experiences, you can tailor your product offerings to customer preferences.
  3. Train your budtenders with AI-driven tools to provide more accurate and individualized advice to customers: This approach helps customers feel more confident in their purchases and can increase sales and return visits.
  4. Implement loyalty programs aligned with AI tools to incentivize return visits and personalized product recommendations: This fosters a feedback loop, boosting customer retention and overall lifetime value.
  5. Monitor the integration of your POS systems with AI platforms and ensure they provide the anticipated benefits: Track key performance indicators like conversion rate and cart size to quantify the impact of your technology investments.

Sponsor for this episode...

This episode is brought to you by ThrivePOP, the #1 cannabis marketing agency for B2B and B2C companies. 

We are a women-led team of strategists, graphic designers, social media specialists, and web developers who work with dispensaries and cannabis service businesses to implement marketing strategies in a regulated industry. 

ThrivePOP creates unique marketing campaigns to inspire, create, and grow cannabis-focused businesses.

To learn more, visit https://thrivepop.com/ or book a meeting with a dedicated marketing strategist at https://thrivepop.com/contact-us.
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