Recently, WM Technology, Inc. (NASDAQ:MAPS), a marketplace and technology solutions provider to the cannabis industry, announced the launch of Weedmaps for Business. "Formerly WM Business, the Company’s reconfiguration and renaming of its SaaS offerings better reflect the comprehensive B2B and B2C suite of products that afford cannabis retailers and brands of all sizes with fully integrated tools to run their businesses," reads a statement.
Chris Beals, CEO of WM Technology said that since 2008, they have been working to “build a complete SaaS platform that provides a suite of compliant, data-driven solutions that enables our clients to reach, convert, and retain customers both online and in-store.”
“While consumer discovery will always be the key value that we offer to our clients, the Weedmaps model has migrated naturally upstream to power and grow businesses holistically,” Beals continued.
An End-to-end Solutions Platform
Companies Sprout, Enlighten, Cannveya, and CannCurrent, recently WM Technology acquisitions, would enable the technology company to provide an interconnected suite of logical, end-to-end solutions.
Moreover, with the addition of these companies, WM Technology now supports businesses at every stage in the consumer funnel which enables cannabis businesses to:
- Strategically reach prospective cannabis customers through Weedmaps’ marketplace via WM Listings, WM Deals, and WM Ads, and extend that reach through WM AdSuite.
- Compliantly manage pick-up, delivery, and inventory in accordance with local regulations through WM Orders and WM Dispatch.
- Help improve customer experience by creating online ordering functionality on a brand or retailer’s website with WM Store and extend that functionality in-store with kiosks from WM Screens.
- Foster customer loyalty and re-engage consumers with WM CRM and its integration with the Weedmaps marketplace.
- Leverage the Weedmaps for Business products in conjunction with any other preferred software solutions via our third-party integrations and create a scalable customized workflow with WM Connectors.
- Make informed marketing and merchandising decisions using performance analytics and consumer and brand insights to promote products to specific consumer groups with WM Insights.
“Weedmaps was established fourteen years ago with the goal of making cannabis more accessible, and a large part of that is ensuring that cannabis businesses can effectively reach customers using data-driven marketing and operational strategies,” Beals said.
“We believe our product offerings will help cannabis retailers and brands reach valuable consumers, streamline and simplify their operations extremely efficiently, which is critical in current market conditions.”
What Do Users Say?
Christopher Fenske, a Chief Strategy Officer at California-based dispensary Jaderoom, said that "the company has leveraged Weedmaps’ suite of tools to help enable growth from a single delivery operation to a vertically integrated brand in just under two years."
“The biggest hurdle in the cannabis industry right now is connecting all the software seamlessly between your CRM, orders fulfillment, and delivery management system, yet Weedmaps took this challenge head-on,” Fenske added. “We started with Weedmaps because we knew the strength of their customer base, and as I look at what we’ve been able to build in less than two years, much of the credit for our success we attribute to Weedmaps.”
Recently, WM Technology, Inc. released its financial results for the second quarter ended June 30, 2022, revealing revenue increased to $58.3 million, up 24% from the second quarter of 2021.
Meet us at the Benzinga Cannabis Capital Conference where WM Technology CEO Chris Beals along with other cannabis advocates and entrepreneurs will gather at the historic Palmer House Hotel on Sep. 13-14 in Chicago, to discuss the future of cannabis legalization and business around marijuana.
Get your tickets HERE.
Photo: Courtesy Of weedmaps.com