In previous articles, we’ve been discussing ideas for promoting your cannabis/CBD related businesses. First, we offered ideas for generating business via unpaid traffic using strategies such as optimizing your website for search engines (SEO), partnering with industry influencers on social media, and experiential marketing. We’ve also discussed options for paid marketing such as Google Adwords campaigns and ads and content posts on social media.
Another paid marketing strategy to consider is participating in an affiliate network in the cannabis/CBD space. The beauty of this strategy is that you can either promote other business’ products with a link and earn commissions upon closed sales, or you can build your affiliate network of third-party promoters who are incentivized to sell your products in a performance-based arrangement using dedicated links to your site. While the first scenario might be a good source of passive income for you, the second scenario is the...
It’s well known and well documented that social media companies, such as Facebook, Instagram, and Twitter, provide marketers with very attractive platforms to reach new customers while building loyalty with existing customers. While Facebook has the most users, Instagram has become a favorite of cannabis marketers thanks to its beautiful use of visuals and it’s younger demographic.
The challenge for cannabis/CBD companies that seek to place ads of these platforms has been finding the right mix of ad copy and creative images that keep them in compliance with existing terms of service that generally prohibit the promotion of these products to their users. While companies like Facebook have become a bit more lenient recently towards ads for cannabis/CBD, overall, the company’s policies do not generally welcome these types of campaigns. Instagram, owned by Facebook, follows their parent company’s policies.
Confusion is created when a site like Facebook will...
When the dust settled after the search engines battled for market share, Google emerged as the leader and "gold standard" for users searching for the most relevant information and for marketers trying to reach this audience. In fact, as of December 2019, Google controls 92.71% of the search engine market share!
While it has proven to be very challenging to advertise cannabis/CBD brands on Google and other search engines such as Yahoo and Bing, it is not impossible. When you are constructing your marketing strategy, consider testing a Google Adwords campaign with a text ad, display ad, Google Shopping service, or Gmail sponsored promos. Search engine marketing is based on the customer's intent to purchase, while social media marketing is based on targeting by interest.
There are no guarantees that when building an ad campaign on search engines such as Google that your cannabis/CBD campaign will be approved. However, the potential upside is so significant that it's worth a shot....
The tremendous growth that the cannabis/CBD industry has experienced over the last few years has created a real dilemma for marketers in this multi-billion dollar industry. The potential to add new customers and gain market share is great, while many challenges to traditional marketing exist.
How do you market products that are approved on multiple state levels but not at the federal level? How can you stay ahead of the dynamic landscape of new legislation to assure that you’re not operating outside of the terms of service for many of the largest advertising platforms online?
The marketing strategy that many marketers are choosing to focus on is organic traffic. By organic traffic, I mean companies generate interest in potential new customers that come to learn of their brand via unpaid channels. Some examples of these unpaid channels include producing unique content to optimize your company website or blog, partnering with existing publications as a guest writer, utilizing...
In a recent article, titled Ready, Set, SEO!, “influencer marketing” was included as an option to consider when building your brand’s awareness at a low cost compared to other paid media strategies. Let’s discuss this rather new marketing strategy and the benefits that it can provide to your cannabis/CBD business.
Social media platforms, such as Facebook, Instagram, Twitter, and Youtube, have grown into massive businesses with billions of users. Enterprising users who have built up large, loyal audiences on these platforms have begun to leverage their relationships with their followers and offer paid product endorsements for companies that they believe in. Not only do these influencers help to build a following for brands, but they also serve a valuable role as educators to users and non-users alike. If the product is correctly aligned with the influencer, and there is authentic engagement, influencer marketing can prove to be very effective! ...
Absent of black and white rules that govern how to market cannabis-related products across multiple media sources, advertisers are being challenged to find creative ways to build the buzz around their brands.
In a previous article, I discussed the importance of getting creative with your advertising in the cannabis market while holding to some basic traditional marketing tenets. They include: content is still king, focus on local marketing, educate to build brand trust, and partnering with existing publishers and agencies.
There are certainly ways to leverage platforms such as Facebook and Instagram to reach their massive markets of cannabis/CBD customers without getting your account suspended or banned; however, it requires experience and online marketing insight that most marketers have not yet acquired.
Amidst the confusion of what is and is not permitted because policies vary from platform to platform, there are some digital marketing strategies that you can employ to...
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...
A recent report from Mintel, a global and award-winning provider of Market Research, shared some interesting data from research conducted on the Canadian cannabis market.
The research shows that the impact of legalization has been tremendous and that Canada has a substantial population of users (59%) and also potential users (32%) that are open to trying it.
From a marketing perspective, the most popular format (66%), non-users stated that they're open to using cannabis, is as an edible or drinkable product.
Scott Stewart, Senior Research Analyst for Mintel stated that" Legalized recreational cannabis has certainly had one of the greatest impacts on the Canadian market in the last decade. After just one year, the effects of this industry are already far-reaching - from food and drink to insurance to tourism and more - and additional markets will begin to experience the ripple effects of the legalization of cannabis this year. For this reason, it is important for all brands to...
Maine is a state defined by its rocky coastline, lobsters, moose, and Acadia National Park.
Now the Pine Tree State can add burgeoning legal cannabis marketplace to its notable characteristics.
Even though the state’s voters legalized recreational, or adult-use marijuana back in 2016, business licenses are only now being processed via the Office of Marijuana Policy (OMP) as the state’s legislators have grappled with numerous bills aimed at regulating its usage.
The financial benefit to the state is expected to be significant! Recreational marijuana will have an effective tax rate of 20 percent (a 10 percent weight-based excise tax and a 10 percent sales tax) under the current laws.
Sales are to begin in March, and while revenue forecasters for the state are estimating $4.4 million in the fiscal year 2020 on marijuana sales and excise taxes, marijuana industry analysts are predicting a much more considerable amount; $158 million in the first year netting Maine almost $32...