springbig Announces 10 Million Customer Milestone Since 2017 Launch
BOCA RATON, Fla., Oct. 16, 2019 /PRNewswire/ -- springbig, a leading provider in cannabis CRM and loyalty marketing technology, today announced it has reached over 10 million customers nationwide since launching in 2017, making it one of the fastest growing CannaTech platforms in the industry and South Florida's No. 2 fastest growing technology company. springbig has captured 23% of the market share among 43 million adult users and plans to multiply its customer base in the coming months through its preeminent text messaging, loyalty marketing and comprehensive real-time analytics services.
According to customer data aggregated by springbig's full service suite of dispensary marketing tools, customers with loyalty memberships accounted for almost 94% of all dispensary purchases. springbig has partnered with over a dozen leading POS systems and played an integral role in launching over 100,000 campaigns through over 340 million text messages. Their dispensary clients have seen a return of $1.3 million in redeemed rewards.
Loyalty programs have become a mainstay of retail over the past few years. Retailers of all sizes use points-based and visit-based loyalty programs to encourage repeat shopping behavior and boost profits. springbig's customized programs incentivize customers with rewards and benefits to spend within a singular dispensary chain. A Harvard Business School study found that a mere 5% increase in customer retention can boost profits upwards of 25%.
"Our entire team takes immense pride in providing dispensaries around the country with the most accurate tools to organically grow their businesses and increase retention, ROI and sales," said Jeffrey Harris, Founder and CEO of springbig. "The latest sales statistics underscores the efficacy of springbig's services and we look forward to integrating our innovative programs with new retailers next year as more states enter the recreational space."
springbig offers a points-based rewards system which allows dispensaries to better calculate their ROI and retain a loyal customer base. In addition, their system applies behavior-based communication to ensure that the right message is getting to the customer at the right time. Points and spending based rewards programs are directly correlated with increased foot traffic and average basket size. Headset, a cannabis analytics firm, found that dispensary loyalty customers spend 35% more than the average consumer.
About springbig
springbig is the leading provider in customer-loyalty and communications solutions for dispensaries and cannabis retailers. Founded in 2017, springbig offers state of the art CRM programs that capture key customer data and seamlessly integrates with existing dispensary POS systems. The platform also develops custom cannabis loyalty software embedded with advanced marketing tools to retain customers and sends targeted and personalized SMS campaigns based customer interest with a 99% open rate. springbig is helping dispensaries & cannabis retailers keep their clientele connected and engaged while allowing the store owners to track their inevitable success and ROI in real-time.
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