The value of a loyal patient is 10 times more important compared to a first-time patient, referrals are the second most important when it comes to choosing a dispensary. Reefer Loyalty, founded by USC students Brian Zatulove, Zach Wise, and Jordan Wise, quickly seized on the opportunity provided by the sudden “green rush.”
In 2016, they launched their beta, this allowed them to really test out their platform, gather data to see if this concept would work and to improve the user experience. Reefer locked in over 10 dispensaries in Los Angeles, California and quickly gained a lot of traction.
What issue is Reefer Loyalty addressing?
Their innovative platform creates a social network around dispensaries. Customers are able to add their Facebook friends and earn rewards when they visit a dispensary.
To date; dispensary owners are missing on average about 42% of new business, and Reefer believes they can help increase customer acquisition and sales.
“Reefer focuses on two components: loyalty and referrals,” said Zatulove, a junior majoring in business administration. “We allow patients to earn points from their purchases and from the purchases of their friends. This essentially creates an incentivized social network around each dispensary that we are partnered with,” stated the Daily Trojan.
How does this process work with friends?
Ride-sharing services such as Uber and Lyft have reward programs implemented within their platform so users are able to earn free rides through their friend’s activities.
Each user is given a special code and when they refer a friend, friends use that code, which results in the original friend receiving a free ride since their friend used that specific code.
They can keep using each others’ codes to work up towards discounts and more free rides. This has proven to be effective for these other brands so Reefer has taken the same approach and applied it towards the cannabis industry for dispensaries.
Every time you visit a dispensary, you earn 10 points and all of your friends earn 2 points. Every time they visit the same dispensary, you earn 2 points. These points are then used to redeem rewards such as free cannabis products or discounts.
Are there future plans for a mobile platform?
Due to iOS regulations, they are not able to provide a mobile application currently, however they have optimized their website so it is mobile friendly.
How do dispensary owners get onto the platform?
Dispensary owners can go to their website and fill out the form to sign up for their waiting list.
To learn more, check out http://www.reeferloyalty.com/