Flex Your Cannabis Freedom on 420

Throughout the world, 420 has become a national holiday for the cannabis community. Every country, city, college campus, or suburb suddenly finds itself in somewhat of a haze, regardless of whether it’s legal or not. As more and more states legalize cannabis and recreational use continues to spread across the country, 420 (or April 20th) becomes more relevant than ever before. So why 420 and where did it originate.

Some think 420 was the code word police used to identify smokers to their partners. Others believe Bob Dylan had something to do with popularizing the number, although both these theories have been debunked. In reality it was a group of five friends in the small suburban town of San Rafael, California that started “420” back in 1971. 4:20 PM was the time everyone at San Rafael High School was finished with their extra-curricular activities, so the five friends, who called themselves the Waldos, would meet up at their favorite secluded spot and get high. Soon 420 just became their codeword, letting each other know after school they’d be meeting up. But how did this break into the mainstream?

Ironically enough, this term getting traction on a widespread level was due to possibly the quintessential “stoner” band, The Grateful Dead. One of the friends ended up working with the bassist Phil Lesh. He worked as a roadie and brought the 420 terminology to the band. The Grateful Dead audience, Dead Heads, began to use the term themselves, and eventually, began handing out fliers telling people to smoke cannabis on April 20th, at 4:20.

From there, the movement began, and the holiday became recognizable around the world. 420 has become an iconic term and holiday throughout the years, and what once started in a small town in California, has become a movement to legalize cannabis and reform the laws surrounding it. As more and more states begin to legalize and federal legalization continues to be an ongoing debate, the movement has more traction now than ever before. Just these past few weeks, three states have passed legislation to legalize adult-use cannabis, in New Mexico, Virginia, and possibly the biggest potential market to date, New York. 

Most years, 420 is a holiday to stick it to the laws in place and celebrate cannabis use. This year is a bit different. Laws are consistently being changed or amended when it comes to adult-use cannabis. Politicians are beginning to listen to their constituents and new markets are forming slowly but surely. Federal legalization still seems to be a ways away, but on a state-by-state basis, we’re beginning to see the tides changing in favor of recreational cannabis. 

420 is a bit different this year in more ways than one. We may not be able to share a joint with our friends, and social distancing will still be standing in the way of large gatherings. But this won’t stop the celebration. The fight for legalization has made some major progress, and in a time where we all need a little bit of good news, we believe that’s a reason to celebrate. So charge your batteries, roll one up, dose your edible, and have your tinctures ready. Instead of sticking it to the legislature that formerly kept your cannabis use a crime, celebrate that we can freely and responsibly use cannabis the way it was intended!

 Enjoy your freedom of choice on 4/20! And freedom is even more valuable when you can authenticate your product and know exactly what’s inside. So if you SEE a Lucid ID, SCAN a Lucid ID. We hope everyone has a happy and healthy 4/20, and hope to see everyone together very soon.


The Future of Cannabis Supply Chain and Inventory Management

From the Desk of Paul Botto,

We have all felt the pain of the deeply-rooted supply chain and inventory management inefficiencies in cannabis for too long. Cannabis Industry requirements vary from state to state, but overall the consistent issue is the amount of data pushed and pulled into the product from the time the seed is planted to the point of purchase at retail. The data collected, processed, and transported at each stop on the supply chain is far from optimized and causes all sorts of inventory, storage, and cost issues. What the industry needs is a “fungible” UPC (universal product code) with taxonomy and accessibility that allows for the seamless, two-way transfer of data at every stop in the cannabis product life cycle. Ideally, it should be able to handle the regulatory and POS prep functionality requested by (and increasingly, required by) major retailers as well.

The good news for the cannabis industry is this fungible UPC (F-UPC) is not only possible, it is already here.  

MEET THE LucidID

LucidIDs are already on more than 9MM packages and growing daily. These “fungible codes” are automatically applied to the regulatory label during production. Once on-pack, they are able to transmit limitless amounts of data about the products they are assigned to, allowing brands to share product information, COA’s (certificate of analysis), and reward values to their users, just to name a few. While LucidIDs are analogous to the notion of a UPC in some ways, what makes them the ideal cannabis UPC is their fidelity and their fungibility. Every individual package gets a unique LucidID, allowing superior fidelity, tracking, and data transfer down to the individual unit level. But it is the fungibility of LucidIDs that allows this functionality to be utilized by virtually any user in the supply chain for widely varied purposes. Whether you are a consumer, budtender, distributor, or retailer, fungible LucidIDs become the right tool, at the right time, for any user to capture or add information about a product, batch, order, or even a “collection” of LucidIDs.

It is from these “collections” of fungible LucidIDs that the story of the inefficient cannabis supply chain changes dramatically.  

THE POWER OF LucidID “COLLECTIONS”

Collections are what allow fungible LucidIDs to scale and serve the entire supply chain so brilliantly. Lucid Case IDs, for example, are a collection of all the LucidIDs (individual units) and all the data about those units within that case, allowing for the touchless, two-way transfer of product, batch, and order data with a single scan of that Case ID. Anyone from production, to distribution, to retail intake, to checkout prep can perform what may have taken hours in just minutes. We could even create a collection at a higher level, like a Lucid Pallet ID, which would collect each Lucid Case ID and each LucidID inside each case into one single scan. Whichever segment of the industry your business is in, the impact of optimized inventory management and enabling a single-scan intake and outflow for entire pallet-sized orders cannot be understated. It would virtually eliminate all time-consuming and error-prone manual entry, eliminate the costly and unsightly secondary stickering on brand packaging, and enable real-time inventory visibility to everyone.  

To see how LucidIDs function and impact your brand, distribution, or retail operation, jump to the proper section below. MSOs and vertical seed-to-sale companies, read on in entirety because you get it all!

BRAND:

Streamlined Production ► Fully Optimized Pick-Pack-Ship ► Retailer Satisfaction ► Shorter Production To Shelf Lag ► Real-Time Inventory

LucidIDs are automatically applied to the regulatory label during production with zero impact on operational overhead. The on-pack LucidIDs are passed by a scanner as a case is packed, automatically creating a precise digital manifest of every item within the case. When the brand’s ERP (enterprise resource planning) environment confirms the contents of the packed case, bin, or pallet matches the order, it automatically pushes the specific order Child METRC IDs (or other regulatory IDs) back to the collection level and to all the unit-level LucidIDs as well. The shipment now goes out with every detail required for the next stop in the supply chain where a single scan of the Lucid Case, Bin, or Pallet ID will capture it all. Better yet, the receiving distributor or retailer can easily add information without requiring any additional labeling. For brands, products tagged in this way significantly shortens the time from production to the shelf, eliminates big ugly stickers applied at retail or other stops along the way, and it allows for the real-time tracking of what products are shipped, received, and sold. This gives the brand exact visibility regarding where their inventory sits at all times. Products integrated in these ways have already become buying decisions for many retailers, giving brands a major advantage in getting their products on the shelf and staying there.

Brands now have inventory visibility from their possession all the way through distribution, retail, and consumption, plus a direct connection to consumers and budtenders right off of their packaging.

DISTRIBUTOR:

Touchless Intake ► Efficient Auditing ► Misplaced Product Relocation ► Touchless Shipping ► Real-Time Inventory Visibility ► Retailer Satisfaction 

Of course, a distributor is now able to capture every product, order, and regulatory detail they need into their inventory management system with a single scan. If they like, they can even pass a proper warehouse location back to the Lucid Case, Bin, or Pallet ID and to every LucidID within in the same step, setting themselves up for streamlined auditing and dead-simple misplaced product relocation. All of this without needing to open the case, bin, or break down the pallet.

It is a game-changer on the order fulfillment side as well. As with the brand, a simple scan of the Lucid Case or Pallet ID matches the order in the inventory management system, associates the new Child METRC IDs or other regulatory tracking tags to all unit LucidIDs, and updates the inventory records automatically. No manual entry, no mistakes, with real-time visibility on inventory at all times all the way through retail.

Distributors gain a complete touchless inventory management solution with LucidIDs.

RETAILER:

Touchless Intake ► Touchless POS Prep ► Real-Time Inventory Visibility ► Lower Space and Capital Requirements

You likely can see the trend here and how these efficiencies add up to a massive win for retailers. The entire intake and POS (point of sale) preparation for a full order, even one that made several stops along the way, can also be completed with a single scan. Product, batch, and regulatory information are captured instantly and the LucidIDs inside the case, bin, or pallet are automatically assigned information that allows them to be scanned seamlessly at checkout.  No more painstakingly applying secondary barcodes, no more big ugly stickers covering up beautiful brand packaging, and the typical 20-30hr/wk inventory process is reduced to minutes. The retailer can maintain healthy stock while carrying much less on-hand, saving space and capital, and the burden of preventing stock-outs can be pushed back to where it belongs – in the hands of the distributor and the brand.

Retailers gain a complete, Touchless Intake and POS preparation process and finally can deliver a clean real-time inventory signal that is critical to efficient inventory management.

OPTIMIZING THE CANNABIS EXPERIENCE FOR EVERYONE

It has been our vision to optimize the cannabis consumer and supply chain experience from the day we started Lucid Green. We have been focused on providing the best experience for the consumer, educating budtenders, and allowing brands to connect with their audience through transparency and rewards programs delivered by LucidIDs. The time has come for the LucidID to optimize the supply chain as well and serve the industry as The Fungible UPC for Cannabis

Sincerely,

Paul Botto

paul@lucidgreen.io

President, Lucid Green


Now You’ve Gotten Used to QR Codes, What’s Next?

QR Codes are old technology. Over their 20 years of existence, the technology has for the most part stayed the same. Scan the code, get information. So why is this older piece of tech having such a resurgence? 

It’s no secret that the QR code has had quite the year ever since the beginning of the COVID-19 pandemic outbreak. 

Old Technology Finally Finds its Calling

Restaurants and bars are a perfect example. People wanted to support their favorite restaurants but were uncomfortable with what eating at a restaurant entails. Close proximity to others was handled with reduced capacity, but menus hold a whole other issue. Plenty of people would be touching the menu every day so a QR code was a perfect touchless solution to this problem. Customers could scan the code and get all the same information in a clean and sanitary way.

People are more comfortable with QR code technology now more than ever largely due to restaurants. This created a great opportunity for companies and brands to provide information to their customers in a quick, and safe way. But imagine your favorite restaurant provided a unique code per table. This could allow the customer to view their menu, get an itemized list of what they ordered, get the server’s details, earn rewards depending on what they ordered, and even pay their bill without having to hand over their card to the server. This is what Lucid Green is doing for the cannabis industry. 

Lucid Green bridges the gap between brands and consumers, modernizing how they can connect with one another. The foundation on which Lucid Green was created was to optimize the cannabis experience across the entire supply chain. We do this by promoting trust and transparency at every step of the production process, from growers to consumers and everyone in between. One Lucid ID can provide the consumer with all product information laid out in an easy-to-understand way, from cannabis veterans to novices, everyone should be able to know what is in their product and whether or not it is authentic. Brands can provide rewards to their customers which can be redeemed in-app. Dosage logs are available through the app so the user can track their dose and know for next time exactly how much they should be taking. The possibilities are endless, but finally, the cannabis industry is beginning to use QR codes as a legitimate tool to provide value to their customers. 

The Technology Doesn’t Matter, User Behavior Does

Technology is just the means by which we communicate with each other. Consumers to the brands, and vice versa. QR codes have been in circulation around the world for 20 years, but really only became popular over the past couple of years. This is clear proof that the technology we use matters far less than the information that we provide. Soon, touchless information will grow and change from what we currently know with QR codes. Near-Field Communication (NFC) technology and other similar technologies are coming. These technological advancements are only useful if marketers continue to provide valuable and meaningful user experiences through the use of this technology. 

Companies such as Lucid Green will continue to adapt to the ever-changing market. The mission of the company is not our Lucid IDs, but the information that our IDs can provide, and the value given to brands, customers, and dispensaries. We care about giving everyone in the cannabis supply chain the power, through our information and data, to optimize everyone’s cannabis experience in a trusted and transparent way. We will continue to deliver value to the entire cannabis industry supply chain - from producers all the way down to consumers.


Edible Purchases Surpassed Industry Growth in 2020: Why is That?

Edibles Have Made a Huge Breakthrough Throughout 2020

For the first time, edible cannabis category growth surged past overall cannabis industry growth year over year. In 2020, edible sales rose by 60%, from $767 million to $1.23 billion (Headset) compared to industry growth, which grew only 54%. And it was not just recreational use. In California, Colorado, Massachusetts, Michigan, Nevada, Oregon, and Washington the surge was seen in both recreational and medical cannabis.  

Why the Explosive Growth?

Many experts believe that COVID-19 has been a major driver for why edibles are growing faster than other categories. Because it is a respiratory illness, some may want to enjoy cannabis this way to reduce the risk of compromising their lungs through inhalation. Cannabis is also often seen as a communal experience and, with increased sanitary protocols, it may be easier to share gummies or pieces of chocolate than a joint, bong, or bowl.  We know that many cannabis consumers, particularly those that fit into an older demographic or have children, are more likely to want a more discreet cannabis experience. With so many new consumers entering the market, it could be the fact that quality edibles are readily available in far more markets now serving that population. But is there another industry change that has helped propel edibles to new heights?

New Edibles Users Need Guidance

Many new users have learned that edibles deliver a very different experience than traditional inhalation methods.  They can have an onset of well over an hour, a duration of more than three hours, and depending on the dose can produce a result somewhere between mild relaxation to vivid hallucinations. The long onset is often what throws consumers off.  They don’t feel anything after 45mins, take another gummy, and inadvertently give themselves a wild ride that seems to last forever thanks to that long duration.  Some believe that the proliferation of tools and expert guidance often found right on the packaging, have given consumers comfort in finding their ideal dose and may have paved the way for edibles to see this massive jump in adoption.  Lucid IDs, small QR codes integrated directly on the package, deliver exact product details, dosage recommendations, and allow you to track your own personal dose for the ultimate predictability and safety.

At a minimum, a brand should include dosage guidance on the packaging.  But on-pack Lucid IDs go so much further. A consumer simply points their cell phone camera at the packaging to unlock the most comprehensive product details, dosage guidance and tracking, consumer-friendly test results, and even authenticate purchased products. This is the best way to ensure the user has the best and most predictable experience possible and form the deepest connection to the brand and product.

If the industry wants to grow and open its doors to novice or experienced users wanting to try edibles again, dosing education for all products needs to be top of mind to ensure a great and consistent experience.  For brands, it is a no-brainer to get Lucid IDs on every package right away. It has zero impact on production costs and line time and only costs pennies.  For consumers new to edibles: always look for dosage guidance on-pack and if you See a Lucid ID, Scan a Lucid ID, to have the best and safest experience every time.

 


Lucid Green Finalist at 2020 Red Herring Top 100 North America

Red Herring Finalist

 

11.13.2020- Lucid Green has been selected as a finalist for Red Herring’s Top 100 North America award, one of the technology industry’s most prestigious prizes.

Finalists for the awards are among the continent’s brightest and most innovative private ventures. Red Herring’s editorial team has chosen their place among North America’s tech elite, during months-long process that takes into account criteria including disruptive impact, proof of concept, financial performance, market footprint and quality of management.

For over two decades Red Herring’s team has seen through the tech sector’s hype to select brands that have become industry benchmarks. Previous Top 100 finalists have included Alibaba, Facebook, Google, Skype, SuperCell, Spotify, Twitter, and YouTube.

The Top 100 North America has become not only a springboard for some of tech’s biggest names, but a valued and trusted tool for venture capitalists, experts and analysts predicting trends at the industry’s sharpest edge.

“Selecting finalists for this year’s Top 100 has proved more difficult than ever,” said Alex Vieux, publisher and chairman of Red Herring. “North America has been tech’s beating heart for years–but never have I seen such an exciting, disruptive and innovative generation as we have in 2020. “

“Lucid Green fully deserves its place among our finalists, and I’ve every confidence it will make a significant impact in the tech world,” added Vieux.

Finalists are invited to present their winning strategies at the Red Herring Top 100 North America conference on Nov 17-18, 2020. The Top 100 winners will be announced after all the presentations at the Top 100 Forum.


Introducing the Touchless COA For Cannabis Brands

Eliminating the administrative burden of COA and Regulatory Label Management, saving time, and removing errors in the process.

Lucid Green’s place in the supply chain puts us in a unique position to identify some key operational efficiencies possible in the current cannabis ecosystem and introduce solutions that not only drive better and more cost-effective processes, but also ensure consumer safety.

For the past 2 years, we’ve been solving the automatic generation of regulatory labels that include our unique LucidIDs, and with now almost 9 Million LucidIDs in circulation, we’ve ironed out almost all of the challenges! This journey has also led to the realization that our unique and automated systems can eliminate the need for ANY manual data entry of COA (certificate of analysis) data received from labs all the way through the generation and application of the regulatory label on retail products.

How do we do it?

Brand Operation and Production Teams receive digital copies of COA’s from participating Test Laboratories that are fully integrated into Lucid Green’s “LucidSource.” Once approved by the Brand compliance team, that test result data is stored, managed, and processed by Lucid Green’s LucidSource, which transforms it into the inputs required for regulatory label generation. From the Brand’s LucidSource console, a production team member selects the approved SKU and Batch ID, enters a number of units to print, and LucidSource generates the complete regulatory label with embedded unique LucidIDs and prints them automatically on-premises, ready for use.  There’s no more label template management and editing, manual data entry of test results on the plant floor, and certainly no more mis-types and mistakes made when generating thousands of compliance labels with dozens of numbers that change for each product batch and SKU. Plus, LucidSource keeps a digital archive of all approved COAs for future use.

Value for Downstream Partners

Creating Digital COA’s and storing them in a centralized system like LucidSource allows Distributors, Retailers and Consumers alike to access this data, and enables the Brand to demonstrate the authenticity of their product and the accuracy and precision of the lab analysis that backs up their quality.

We continue to challenge ourselves to help solve the biggest problems and reduce the inefficiencies facing our growing Brand base.


springbig Integrates Direct-to-Consumer Brand Advertising Platform With Lucid Green

Brands utilizing both platforms will have the opportunity to directly offer loyalty rewards through product promotions

BOCA RATON, Fla., July 7th, 2020 — springbig, a leading provider in cannabis CRM and loyalty marketing technology, today announced its advertising and loyalty partnership with Lucid Green, the premier trust and transparency platform developed exclusively for the cannabis industry. Effective immediately, brands that use springbig Brands and Lucid Green’s platform  will be able to directly text consumers about exclusive loyalty rewards, product specials and offers. 

Under this partnership, cannabis brands can boost loyalty points programs tracked through Lucid Green’s consumer app. Brands can tailor these offers to apply to specific products, line of products or across all product offerings. Brand based loyalty rewards generated through Lucid Green are eligible for customer redemption at participating dispensaries and on-line. Brands including 1440 Processing and Green Revolution are already utilizing the features of this program.

Brands and dispensaries alike can leverage Lucid Green’s reach across 26 brands and over 3 million products to create unprecedented retail synergies. Participating brands will have direct access to springbig’s 19 million active customers nationwide and have the opportunity to offer unique promotions to further drive sales and direct consumer connections. Retailers will not only be able to efficiently promote more products and brands, but also facilitate long-term customer loyalty by offering products vetted by Lucid Green’s LUCID ID. This partnership adds unparalleled value to the consumer experience and provides customers with critical product and safety information. 

“springbig was founded to help retailers skillfully bolster their loyalty programs while maximizing ROI, and we are confident that this new program featuring Lucid Green will benefit retailers and brands aiming to distinguish themselves in this competitive market, said Jeffery Harris, Founder and CEO of springbig. “Lucid Green has been a leading provider of product safety and authentication solutions, and their dedication to consumer well-being and improving the overall retail experience will be a boon to the industry at large.”

“We are delighted to work with springbig’s leading-edge advertising platform to bring trust, transparency and value to millions of cannabis customers,” said Larry Levy, CEO of Lucid Green. “Our main priority has always been to empower consumers to make informed decisions, and we are eager to equip even more consumers with our educational tools.”

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 on 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. For more information, please visit www.springbig.com.

About Lucid Green

Lucid Green was founded in early 2018 by data veterans Paul Botto and Larry Levy with a singular mission of building a standard for trust and transparency in the cannabis ecosystem. Lucid Green’s revolutionary information platform provides brands a channel to connect directly with both consumers and retail staff; enabling brands, distributors, and retailers to provide the most accurate product information and improve their customers’ experience. Lucid Green's total transparency platform allows consumers to verify product authenticity, understand effects and usage recommendations, view test results, scan reviews, and track their experience – delivering a safe, predictable, and enjoyable experience. For more information, please visit www.lucidgreen.io.

Media Contact

Noah Bethke

MATTIO Communications

springbig@mattio.com


Big Isn’t Always Better - Especially When It Comes To THC

Does the THC arms race even make sense?

Public perception is that both cannabis flower and concentrates that come in below a certain THC percentage are “less desirable” than products that come in higher in THC percentage. This has focused product development on delivering high THC levels with less focus on other, arguably as important, cannabinoids. Cannabis producers dread reading certificate of analysis (COA) results when a large batch of concentrates, flower or distillate comes in below the expected THC ranges. They know they’ll hear all about it from either purchasing managers or customers directly.

According to a study by CU Boulder researchers, higher THC levels are not necessarily the driving factor in how high cannabis users get. And according to this study published in the Journal of Cannabis Theraputics, cannabis is more of a sum of all of its parts vs one major component in THC. If it’s not just about THC strength, then how do brands develop new products? How does the intended effect coincide with the actual consumer experience?

There have been a number of attempts to collect usage data from consumers, but most have been too difficult to scale. The most common technique used by brands has generally been sampling out different variations of new products to staff and gathering feedback based on desired effect, taste profile etc. This results in a very small data set and a new product that is a “winner” in staff testing, might not work out when it rolls out into the general population

One of the most intriguing value propositions for cannabis brands through the utilization of data platforms like Lucid Green, is the opportunity to do true data-driven product development at scale, that directly benefits the user, as well as potentially allowing the Brand to maximize lower THC yielding crops. 

Lucid Green users get to add their dosage and effects as part of their overall experience with that Brand’s product. It’s not an add-on or a separate step they have to remember to take. Allowing users to record their dosage for future reference, as well as providing them with valuable information on the products they’re consuming, makes it more convenient for consumers to provide this feedback. There’s real value in showing consumers that they have a very similar experience when they consume a high strength vs medium-strength THC Sativa dominant products. It’s also really useful to know that consuming products with more than 4mg/g of limonene leaves some consumers with sensitive skin, whereas their skin feels great when dosages are below 4mg/g. As consumers log more usage, they’re able to dial in what works for them and what doesn’t. Ultimately platforms like Lucid Green may help consumers discover the right blend of terpenes and cannabinoids, as they consider their next product purchase. Having both user documented effects and the detailed chemical composition of the product (COA) consumed, yields valuable insights when analyzing the correlation between dosage/effect and full cannabinoid/terpene analysis. These aggregated insights could prove invaluable for a Brand’s future product development.

There’s a promising new data set for brands and consumers alike, that drives home the goal of providing consistent and enjoyable consumer experiences….. even if that means lower THC numbers!


BRANDS - NOW’S THE TIME TO ACQUIRE CUSTOMERS, NOT JUST MAKE SALES


Cannabis digital marketing was pushed into overdrive thanks to the Covid pandemic. Like traditional retail before it, cannabis retail is moving rapidly towards a more digitally integrated experience and consumer behavior is changing along with it. Thankfully for cannabis brands, there’s a tried and tested brand marketing blueprint to follow in order to build out their Direct to Consumer (
DTC) digital strategy.

Traditional Consumer Packaged Goods (CPG) marketers used to operate much like cannabis Brands do now - focused on shelf-space and managing retailer relationships, but the internet changed that dynamic. With the accelerating digital shift and where two-thirds of consumers now expect to connect directly to the Brands they buy, CPG companies have turned to building and managing direct customer relationships, taking advantage of the efficiencies of the digital landscape to do so, rather than fighting to hold back the tide.  While strong retailer relationships help drive sales for cannabis Brands, it contributes very little to increasing the Lifetime Value of the Customer (LTV), allowing the fickle consumer (and retailer) to switch Brands with alarming regularity and no easy way for the Brand to intervene.

Unlocking a latent, powerful marketing channel Brands never knew they had

What if Brands could change all that by creating their OWN marketing channel using their existing widely distributed packaging?  The digitization of cannabis Brand packaging, which requires a tiny footprint, but creates a highly engaging experience right off of every package, gives that power to the Brand almost instantaneously.  Want to deliver a deep branding experience along with all the knowledge required to have the best, most predictable, and enjoyable Brand experience on every product?  Consumers simply point their camera at the packaging.  No app to download, no registration required, no typing, just point-and-click.  Within one production cycle, a Brand can
create a DTC channel, start building a relationship with those consumers, and drive Brand affinity, loyalty, and ultimately repurchase behavior. 

Building a relationship with consumers is not easy, but this is where it gets really interesting.  An integral part of that same, simple packaging interaction is to deliver a call to action for things like product authentication, Brand loyalty, dosage and product tracking, which, of course, requires consumer registration.  When the consumer signs in to access these details, they connect directly with that Brand.  Successful cannabis Brands adopting this digital strategy have amassed tens of thousands of consumers and add hundreds more every day. They integrate their social media, web site, sales collateral into campaigns that both drive higher sales volume AND capture consumers on their digital platform.

There’s no disputing that digitizing cannabis brand packaging works, but how do you, as a Brand, know how much to spend on these tools, loyalty, and promotion?  This is where many young Brands get stuck, but successful traditional brand marketers have already figured this out.

To LTV or Not to LTV - That is the question

Lifetime Value vs Customer Acquisition Costs.  This simple ratio breaks down the complicated consumer journey by accounting for what you spend to acquire a consumer and what they are worth to you.  Simply stated, a 1:1 LTV:CAC ratio would mean you only earned what you spent over the lifetime of a customer - a questionable strategy. The best marketers figured out the “ideal ratio” of 3:1, which means you sell 3x what you spend to acquire each consumer - that’s Brand-building gold!

This is where digitally integrated cannabis packaging really shines. Brands are regularly seeing LTV:CAC ratios of 10:1 or more, even when accounting for the cost of a digitally integrated packaging platform like Lucid Green and the cost of the loyalty program.

The digital trends in cannabis may seem daunting in a new industry with so many aspects of the business still evolving, but one thing is clear, the post Covid retail landscape has changed consumer behavior forever, leaving it impossible for Brands to ignore digital marketing.  This no-brainer first foray into digital marketing allows Brands to gain an enormous advantage from that direct consumer connection, allowing Brands to take control of their brand affinity, loyalty, and drive up that all important LTV ratio.

If you want to see how these numbers play out with your own assumptions, email info@lucidgreen.io to contact your Lucid Green representative, who’ll help calculate your LTV:CAC ratio.  

 


Greenlane Launches Consumer-Facing Product Verification Program G-Verify Powered by Lucid Green

Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (Nasdaq: GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today unveiled G-Verify, a consumer-facing, scannable verification program that allows brands to communicate product information directly to consumers. Powered by Lucid Green’s Lucid ID platform, G-Verify can be used by brands to confirm product authenticity, share manufacturing certifications, child-resistant compliance details, reviews, dosage, and educational content through unique QR codes.

G-Verify harnesses the power of Lucid Green’s 36,000 registered users and up to 600 daily scans per brand to provide reliable product, safety, and educational information directly to consumers and retailers. Each G-Verify Lucid ID is conveniently printed on product packaging and can be easily scanned with any smartphone camera. Greenlane’s latest offering in partnership with Lucid Green assures consumers that every aspect of their favorite products, from the packaging to the hardware or cannabis itself, is verified and compliant, and provides critical information regarding lab testing and safety.

BRANDS
Greenlane brands that opt into G-Verify will have direct-to-consumer control over their own brand narrative. Each G-Verify brand landing page provides real-time updates regarding product information, compliance testing results, marketing assets, and brand messaging. G-Verify Lucid ID codes seamlessly integrate into existing compliance labeling machinery and easily prints directly within existing compliance labels. In addition, brands will receive monthly consumer data reports that can be leveraged to update marketing content and drive sales. Most importantly, G-Verify proactively verifies that a product is authentic, protecting brands from intellectual property theft.

DISPENSARIES
G-Verify acts as a virtual brand ambassador that can be easily utilized by budtenders to provide product expertise at point-of-sale. In addition to enhancing in-store customer experiences, G-Verify provides comprehensive employee training and guidelines regarding best practices and ongoing product education. G-Verify brands seamlessly integrate with existing retailer POS systems, which allows retailers to verify product authenticity, certifications, and compliance, and even review product testing results in real-time. Upon registration, retailers will gain access to brand marketing assets which can be used to drive sales and customer engagement.

CONSUMERS
Any consumer with a smartphone can access critical product information including dosage recommendations, reviews, ingredient breakdowns, batch information, and certifications. Consumers can even track their personal experience with products without downloading additional applications. G-Verify’s landing page also allows consumers to explore verified customer reviews, industry articles, and related blogs about participating products or brands. Unlike other compliance solutions, the G-Verify platform also acts as a digital wallet that tracks purchases and rewards points, allowing consumers to redeem exclusive gifts and offers.

“The legal cannabis retail environment is still challenging space for consumers, brands, and dispensaries to navigate,” said Aaron LoCascio, Co-Founder and CEO of Greenlane. “The illicit market is actively competing with legal companies for customers, which is a serious threat to consumer safety. G-Verify’s partnership with Lucid Green delivers a vital platform that allows cannabis enthusiasts to buy and sell consumption products with peace of mind.”

About Greenlane Holdings, Inc.
Greenlane (NASDAQ: GNLN) is the leading global platform for the development and distribution of premium cannabis accessories and lifestyle products. The company operates as a powerful house of brands, third-party brand accelerator, and omni-channel distribution platform. Greenlane serves the global markets with an expansive customer base of more than 11,000 retail locations, including licensed cannabis dispensaries, smoke shops, and specialty retailers. Greenlane’s world-class team provides services including product development, go-to-market strategy, sales and marketing support, customer service, direct-to-consumer fulfillment, supply chain management, and distribution. As a pioneer in the cannabis space, Greenlane is the partner of choice for many of the industry’s leading brands, including PAX Labs, Storz & Bickel (Canopy-owned), Cookies, Grenco Science, and DaVinci. Greenlane also proudly owns and operates a diverse brand portfolio including packaging innovator Pollen Gear™, the K.Haring Glass Collection by Higher Standards, Marley Natural™, and VIBES™ rolling papers. Higher Standards, Greenlane’s flagship brand, offers both a high-end product line and immersive retail experience with groundbreaking stores in both New York City’s Chelsea Market and Malibu, California. Greenlane also owns and operates both Vapor.com and VapoShop.com, two industry-leading, direct-to-consumer e-commerce platforms in North America and Europe respectively. For additional information, please visit: https://gnln.com/.

About Lucid Green Inc.
Lucid Green was founded in early 2018 by data veterans Paul Botto and Larry Levy with a singular mission of building a standard for trust and transparency in the cannabis ecosystem. Lucid Green’s revolutionary information platform provides brands a channel to connect directly with both consumers and retail staff; enabling brands, distributors, and retailers to provide the most accurate product information and improve their customers’ experience. Lucid Green's total transparency platform allows consumers to verify product authenticity, understand effects and usage recommendations, view test results, scan reviews, and track their experience – delivering a safe, predictable, and enjoyable experience.