Legal Cannabis Industry Utilizes Reward Based Programs

Thursday, March 15, 2018 Drug News
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NEW YORK, March 15, 2018 /PRNewswire/ --

According to data compiled

by Markets and Markets, the Loyalty Management Market is forecasted to grow to $4.59 billion by 2021, growing at a CAGR of 22.2 percent. The market focuses on targeting consumer demographics to offer reward based programs
to gain customer retention. Businesses are aggressively pushing out loyalty programs in order to differentiate themselves from its competitors. Other factors include increasing focus of loyalty programs for consumers, rise of mobile technology, and increase in number of cardholders. Gwenn Bézard, a Research Director with Aite Group explained, "In 25 years, rewards have arisen from marketing gimmick status to a paramount competitive force in financial services and other industries." Snipp Interactive Inc. (OTC: SNIPF), GB Sciences, Inc. (OTC: GBLX), Freedom Leaf, Inc. (OTC: FRLF), Surna Inc. (OTCQB: SRNA), MYM Nutraceuticals Inc. (OTC: MYMMF)

Loyalty Management is being used as a marketing tool in the legal cannabis market, which is one of the fastest growing markets currently. According to a recent report published by Arcview Market Research, in partnership with BDS Analytics, worldwide spending on legal cannabis is expected to reach $57 billion by 2027. Green Market Report indicates that since cannabis companies can't advertise easily, the dispensaries need an easy way to build clientele and rewards programs solve the problem. A rewards program could help define the dispensary and its chosen brands. Carla Baumgarten, the Owner of Ganjarunner said, "We rotate a variety of products for rewards. There are about a half dozen products including flower, pre-roll, edibles, and topicals." The customers earn one point for every dollar spent and can redeem points for reward items.

Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Earlier today the company announced breaking news that, "with PotNetwrok (http://www.potnetwork.com) on using technology for marketing in the legal cannabis industry. Interest in Snipp's role in this rapidly growing industry came as a response to the Company's recently announced launch of the Cannabis Marketing Resource Center (CMRC), a one of a kind resource for cannabis marketing. PotNetwork is the leading online hub for cannabis related media and networking opportunities within the legal cannabis and medical marijuana industries and serves as a trusted source for curated videos, breaking news, research reports and more by industry professionals and an extensive list of contributors. This in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and exposure to the investment community. The audience includes industry enthusiasts interested in all cannabis industry segments as well as technology solution providers like Snipp.

The article reviews the recent announcement of the launch of the Snipp Cannabis Marketing Resource Center and explains the objectives of the CMRC and the Company's perspective on the advantages of leveraging the deep expertise and flexible technology platforms engineered by Snipp for related industries like Alcohol and Pharma, thereby enabling cannabis-related companies to more easily launch sophisticated solutions that are legally-compliant. Read the article here: http://www.snipp.com/company/news/company-knows-market-legal-cannabis-article-recently-launched-snipp-cmrc-potnetwork/

"We are honored by the interest that this leading industry source has taken in the launch of this resource center," commented Atul Sabharwal, CEO and Founder of Snipp. "Our proven technology solutions in regulated industries will help transform the way Cannabis marketers connect with their consumers as well as with their supply chain. We are excited by the interest we are getting from leading companies in this space and have already started receiving sign-ups to the CMRC, from both US and Canadian companies and are looking forward to applying our technology and marketing expertise to help them launch legally compliant marketing programs."

Visit the Snipp CMRC http://www.snipp.com/CMRC  and the Snipp website at http://www.snipp.com/ for Snipp's full suite of solutions and examples of Snipp programs.

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On February 21, 2018, the company had been issued its production license and now begins full production operations in the Las Vegas, Nevada facility. Production license partners include Relax With Happy™ ("RWH"), a new venture co-founded by veteran cannabis chef, Deliciously Dee™, and Cura Cannabis Solutions, maker of the best-selling cannabis brand on the West Coast, Select Oil. Given already announced contractual arrangements with those production partners, operations are expected to generate significant monthly free cash flow after a ramp up period of approximately two months.

Freedom Leaf, Inc. (OTCQB: FRLF) is a leading, go-to resource in the cannabis, medical and recreational marijuana, CBD and industrial hemp industries. Recently, the company announced that its Co-Founders, CEO Clifford J. Perry and Richard Cowan, are currently in Spain to visit newly acquired Green Market Europe S.L. hemp cultivation operations and explore new business opportunities at the Spannabis Expo. On March 6, Cowan visited two of the flowering greenhouses operated by Green Market Europe S.L. in Spain. Green Market Europe is a b2b cultivator and has an indoor greenhouse grow area of 43,000 sq. ft. (4000 m2), plus a light deprivation greenhouse with an area of 21,000 sq. ft. (2000 m2), and outdoor cultivation and production capabilities of 240 acres (over 100 hectares). Last year, Freedom Leaf also acquired LaMarihuana.com, the world's leading Spanish language cannabis portal with an average 1.7 million hits a month and 1.2 million likes on Facebook.

Surna Inc. (OTCQB: SRNA) develops innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation. On November 14, 2017, the company announced operating and financial results for the three and nine months ended September 30, 2017. Revenue for the three months ended September 30, 2017 was $1,566,000 an increase of $395,000, or 34%, compared to the three months ended September 30, 2016. During the three months ended September 30, 2017, the company was awarded new sales contracts totaling $2,385,000, bringing our total new sales contracts awarded for the nine months ended September 30, 2017 to $7,182,000.

MYM Nutraceuticals Inc. (OTCQB: MYMMF) is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products.  On February 26th, the company announced the completed purchase of Budly Software Inc., a leading software company that has developed a smartphone-enabled sales and distribution system connecting medicinal cannabis patients with local dispensary drivers for fast delivery and monitoring of orders.? Using the system, a customer can select a dispensary, place an order, and then choose a driver to deliver it. ?The customer can then track the order on his smartphone and knows exactly when it will arrive.? Orders can be placed via the Budly app on iOS, Android and Windows phones, and via the website http://www.budly.com.

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