On the Cutting Edge of Cannabis Analytics to Drive Growth

Key takeaways

Background

Based in California, Petalfast is the first-of-its-kind full spectrum sales and marketing agency for the cannabis and marijuana industry. It helps build marijuana brands through innovative consumer-led sales and marketing strategies.

The challenge

Like many organizations establishing themselves in the marijuana industry, Petalfast found there was not a lot of data usage among companies. It is challenging for brand-builders to use data to make decisions when distributors are sharing their data with unsophisticated technology. Delays in end-of-month reporting also presented challenges with understanding costs. In a nascent and quickly growing space, Petalfast needed immediate access to marijuana sales and distribution data in order to drive its growth goals.

Learn how Petalfast is using its experience with Diver Platform from the wine and spirits industry and using it to gain insights on consumer metrics in the quickly emerging cannabis industry.

Solution

Dimensional Insight provides the tools that help keep Petalfast a step ahead of the competition in the cannabis and marijuana markets. With Dimensional Insight’s CannaBI and Program Advisor applications, Petalfast is able to analyze data in a way that was previously unavailable to companies in the marijuana sector.

“Dimensional Insight has given us the ability to look at our data in real time,” says Jason Vegotsky, Petalfast’s co-founder and CEO. “We can compare performance in regions, see how sales people are performing, and make decisions that will improve our business dramatically in real time. For cannabis brands to be successful, they need tools like this.”

The results

“CannaBI has changed our ability to see overnight,” says Vegotsky. “For us to be able to look at a brand in real-time and see how the distribution is coming in, where the distribution is coming in, and where we’re winning and losing is extremely valuable. We never had anything like that prior to launching Dimensional Insight technology. Now our managers are able to provide our salespeople with a path to success.”

CannaBI allows Petalfast access to reports that they were previously unable to produce. “This is brand-new and something that is highly coveted in the cannabis space,” says Vegotsky.

Program Advisor allows Petalfast to track not just its own performance on goals, but it also allows its suppliers to see that performance on goals and allows payouts to happen on time. “Doing a salesperson incentive, tracking that incentive, paying out that incentive, and then finally billing back the supplier for that payout — that chain is something that could not be done in marijuana sales operations until we were able to get Program Advisor on board.”

The self-service aspect of the Dimensional Insight tools has also led to a more satisfied workforce at Petalfast. “Each one of our salespeople is now able to see their own business in real time and how they’re performing,” says Vegotsky. “It has provided us with a dramatic uptick in sales, an uptick in culture, and an uptick in employee happiness because they have the tools to be successful.”

More on Petalfast

In the rapidly evolving marijuana industry, data-driven decision-making is crucial. Petalfast, a leading sales and marketing agency, utilizes Dimensional Insight’s analytics platform to gain real-time insights, enhancing their marijuana distribution and sales strategies.

Presenter: Jason Vegotsky, Co-founder & CEO, Petalfast

The legalized cannabis industry is expected to grow 25% each year through 2030, and few companies are as well-prepared for this growth as Petalfast is. This full-spectrum sales and marketing agency for the cannabis industry has attracted millions of dollars in VC funding and has developed partnerships with industry leaders. In this presentation, hear from Petalfast’s director of digital on the challenges and opportunities in this market, and how analytics supports the company’s ambitious goals.

Presenter: Sam Carey, VP of Digital, Petalfast

Operational Excellence at Petalfast with My Library