Key Takeaways
- Surfside, a leading marketing technology company, has partnered with BLAZE, a top cannabis software suite, to introduce a pioneering Commerce Media solution to the cannabis retail market.
- The collaboration enables BLAZE ECOM retail partners to generate high-margin revenue through ad monetization within their e-commerce menus, boosting their financial bottom line.
- Retail media advertising is shown to increase basket sizes by 18%, enhancing profitability and improving brand partnerships through premium ad placements.
- This partnership marks a significant step towards building the largest retail media network in the cannabis industry, promising to reshape the future of cannabis retailing with advanced advertising technologies.
- BLAZE and Surfside's integrated solution offers seamless activation for retailers, comprehensive revenue tracking, and the potential to strengthen retailer-brand relationships.
Strategic Partnership Elevates Cannabis Retail Experience
Surfside Solutions Inc. and BLAZE have announced a strategic partnership in a news release to bring Surfside's innovative Commerce Media solution to BLAZE ECOM retailers, marking a significant leap in the evolution of cannabis retail advertising.
This collaboration merges Surfside's cutting-edge marketing technology with BLAZE's robust cannabis software suite, aiming to transform the digital storefront experience for cannabis businesses.
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Unlocking New Revenue Streams
Through this partnership, cannabis retailers utilizing BLAZE ECOM can now integrate brand-sponsored ad placements within their e-commerce menus. This not only opens up new avenues for passive income through high-margin ad revenue but also enhances the shopping experience for consumers.
Ad placements are designed to influence purchasing decisions, leading to a noticeable increase in average basket sizes by 18%.
Strengthening Brand-Retailer Relationships
The integration of Surfside's Commerce Media platform with BLAZE's software suite also offers retailers a unique opportunity to foster stronger partnerships with brands.
Retailers can drive more sales and create mutually beneficial relationships by allowing brands to secure premium ad placements on their digital storefronts. This, in turn, contributes to a healthier and more profitable cannabis retail ecosystem.
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Frictionless Implementation and Insightful Analytics
One key feature of this partnership is the ease with which retailers can activate banner ads on their online menus, enhancing their visibility and attractiveness to potential customers.
The partnership provides retailers comprehensive tools to track ad revenue, offering insights into fill rates and Return on Advertising Spend (ROAS). These analytics empower retailers to make informed decisions about their advertising strategies and optimize their sales processes.
This timely partnership reflects a growing trend toward digital transformation in the cannabis sector, which is increasingly adopting e-commerce solutions to meet consumer demand. The integration promises to enhance customer engagement by facilitating targeted advertising, potentially increasing average basket sizes—a crucial metric for retail profitability. According to a report by Vangst, 86% of cannabis companies plan to hire in 2024. In this context, leveraging retail media for enhanced visibility and sales becomes a critical differentiator.
Moreover, the initiative is set against a dynamic regulatory environment, where digital advertising remains a complex terrain for cannabis businesses. The partnership addresses this challenge by offering a compliant advertising channel and underscores a broader industry shift towards data-driven marketing strategies. A 2020 BDSA report noted that global cannabis sales are expected to surpass $47 billion by 2025, underscoring the importance of innovative marketing platforms like Surfside in capturing and capitalizing on this growth.