Ever wonder how Amazon AMZN makes its money? What about cannabis tech company WM Technology Inc MAPS ?
What do they even have in common?
Come and meet extraordinary cannabis visionaries like Weedmaps' Chris Beals and let’s network and learn together.
Join us on September 13 & 14 at the Benzinga Cannabis Capital Conference and stay at the historic Palmer House Hotel .
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VIDEO
Transcript (auto-generated)
if so if you look at amazon the fastest
growing revenue segment for amazon is
advertising within the marketplace and
the measurement of that advertising is
not clicks or impressions it's who's
actually buying the product and the same
as us and so when you look at a retailer
a brand sort of advertising within the
marketplace it generally converts twice
as well as on amazon that's the hallmark
of a specialty marketplace so first
thing to understand is when you think
about business advertising within the
weed maps marketplace it's a marketplace
surface it's getting people to shop and
it's actually turning into hard dollars
in the business so it's it's a different
category of advertising to begin with
um the other thing is when you look at
how that performs the return on ads
spend
it's high we average an 8 to 10x row so
for every one dollar you put into
getting someone in that marketplace to
think about and maybe buy your products
it's turning into eight to ten dollars
of sales on average across our
jurisdictions
um
so in short it's great and then frankly
there's a lot of dry powder it is i
believe to be by far and away the most
cost effective way for cannabis brands
and retailers to actually increase their
sales um but the other thing that sits
under that is amazon makes a lot of
money on transaction fees here's a great
thing about our or you know one of the
things that that's tough we can't charge
any transaction fees because of fairly
legality we are prohibited from putting
in payment rails and putting intake
rates on billions of dollars of
transactions that run through our
marketplace
but
that being said enlighten is really
critical in that advertising life cycle
in that pipeline because it's now able
to
project the nexus of those
out of the digital world into the analog
world where you're putting it physically
in front of eyes of people going in
where we can measure
uh
conversion in store in some cases with
what's happening there but it's part of
sort of this continuation of life cycle
marketing there's also it also augments
certain types of in-store advertising
you see with table days at stores and
things like that
