Toronto-based Lift & Co. has released a new platform with the goal of being a single source of truth for consumer insights in the cannabis industry.
Cohesion draws from millions of Lift & Co.’s cannabis consumer and budtender data points, which include verified reviews, purchase receipts, and brand research on the Lift.co and CannSell platforms. Canadian cannabis brands can get insight into consumer purchase behaviour, product sentiment, and brand perception on Cohesion, which covers all of Canada.
“We understand the cannabis consumer better than anyone else because they talk to us every day through the Lift.co platform.”
– Sean Copeland
“Lift & Co. has spent five years in the Canadian market creating a platform that builds consumer trust while gathering rich consumer data that can empower marketers with unique insights to scale a brand,” said Matei Olaru, CEO of Lift & Co. “With Cohesion, we are combining the collective reach of our various platforms and introducing a completely new approach to cannabis consumer insights. Lift & Co.’s unique platform strategy to data collection pays off today, culminating into a single source of truth for consumer insights at a time when all brands are struggling to form.”
The platform includes individual datasets available for purchase as data modules, and high-level scorecards that include nine top-level key performance indicators. There are three data modules available at launch: a review module, which offers a full historical view on detailed product review and rating insights; a receipt module, which includes a full historical view on projected sales volume, basket size and composition, and purchase price analysis; and a brand module, which provides a historical view of brand awareness.
The data modules answer questions like when to re-evaluate product pricing, measuring campaign impact, and tracking customer loyalty. Based on the modules, cannabis companies can receive a scorecard of nine predictive key performance indicators.
“We understand the cannabis consumer better than anyone else because they talk to us every day through the Lift.co platform … which tell[s] us what they buy and their attitudes and perceptions about these products,” said Sean Copeland, VP of Data, Lift & Co. “This is more than POS data stitched together with ad hoc consumer surveys. Cohesion is a 360-degree look at cannabis consumers across every province in Canada; their purchasing behaviours, product sentiment, brand equity, and demographics.”