As many states pass legislation or consider bills to legalize adult-use (recreational) marijuana, the business opportunity increases as each new state comes onboard. Vermont is the latest state to consider creating a legal market for marijuana sales.
There is a domino effect at play in the Northeast as the states of New York and New Jersey look to join Maine and Massachusetts to create a potential billion-dollar corridor for legal marijuana retail sales.
For marketers, it is essential to stay abreast of the news with each state that is considering legislation as each has its particular restrictions and guidelines for marketing and building a brand. As the market evolves, so does the marketing strategy to reach consumers in each state.
So how do you create a strategy to reach an ever-increasing consumer market while the competition from more and more brands increases? All while the platforms to reach these consumers are limited, and some popular channels do not allow cannabis-related advertising?
The answer is that marketers have to get creative beyond traditional marketing techniques. Here are some quick ideas to incorporate into your strategy that can make a difference in how your brand performs in 2020.
Content is Still King
Create content that resonates with consumers that are using cannabis, or considering using it, by leveraging email marketing. SMS marketing and chatbot marketing are also becoming popular. Incorporate website promotions such as reward and loyalty programs to build an audience that helps to promote your website.
A Focus on Local Marketing
Cater to local markets since there is yet to be a uniform policy for cannabis across all states. Build your brand through storytelling that will appeal to the local market and utilize brand ambassadors to create buzz for your brand through word-of-mouth referrals. Experiential marketing events have grown in popularity, and industry events are typically suitable investments.
Educate to Build Brand Trust
Education is key to a brand’s continued growth in the cannabis space. As the market matures, offering training to regular customers and potential customers will build brand loyalty as a trusted authority, and differentiate your company away from those that are only looking for the sale. For example, educate your customers on the quality of the ingredients in your product line and assure them of the safety of your supply chain.
Partner with Existing Publishers and Agencies
By testing search marketing using specific industry keywords and partnering with existing publications to drive traffic to your website or landing page, you can capture prospect information, most importantly, their email. This lead generation will help to offset the challenges found in marketing on social media platforms. If your budget allows, align with a digital marketing agency that has experience in cannabis marketing that can help you to avoid many pitfalls.
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