How Twisted Extracts Leveraged Data to Soar in the Cannabis Industry
Discover how Twisted Extracts turned customer insights into a $5M revenue boost.
About the Client
Twisted Extracts, a leading cannabis edibles company, has been at the forefront of providing customers with a diverse range of cannabis-infused products. With a mission to offer both recreational and therapeutic wellness options, Twisted Extracts has established itself as a trusted brand in the industry.
The Challenge
Navigating the Hazy Maze
In an industry riddled with regulatory constraints and advertising limitations, Twisted Extracts faced a significant challenge: acquiring and retaining customers. Cannabis advertising laws restricted traditional marketing approaches, making it increasingly difficult to reach new audiences and maintain customer loyalty.
The Solution
To tackle this challenge head-on, we went on a data-driven journey. The first step was to gather and meticulously analyze customer data to gain deep insights into customer preferences and usage patterns. This analysis revealed that the majority of high-spending customers were seeking improved sleep quality through cannabis products.
With this invaluable information, we set out to create a product designed explicitly to enhance sleep quality. This innovative offering was a resounding success. But the transformation didn't stop there.
We also undertook a comprehensive revamp of its customer acquisition and referral strategies. Rather than focusing solely on the products, we strategically highlighted the desired outcomes customers were seeking, such as better sleep. By doing so, they effectively circumvented the stringent cannabis advertising restrictions while delivering precisely what their customers desired.
Turning Dreams into Zzzs
The Results
Sweet Dreams, Sweeter Profits
The results of our data-driven and customer-centric approach were nothing short of remarkable. The introduction of "Haley's Comet" not only resonated with customers seeking improved sleep but also captured the market's attention, resulting in a significant boost in sales. This innovative product alone contributed an additional $5 million in annual revenue.
Over a span of just 12 months, Twisted Extracts experienced a remarkable 416% increase in customer lifetime value, thanks to their refined strategies and the launch of "Haley's Comet., and successfully acquired a staggering 20,000 new customers, demonstrating the power of data-driven decision-making and a focus on meeting customer needs.
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