How to Build Your Cannabis Marketing Approach

Selling to consumers is just half of the cannabis marketing puzzle. At Seedless Media, we recognize the significance of strategic marketing in propelling cannabis businesses forward. Let’s delve into effective strategies for building a powerful cannabis marketing strategy.

Marketing in the cannabis industry serves as the backbone for business growth. A key factor you must consider in your cannabis marketing strategy is the expectations you set around your products, and how your customers will react. The key to a successful cannabis brand is marrying a strong cannabis marketing strategy with a clearly defined audience, with a high quality product that resonates with them. Good marketing will bring in likely buyers and convince people on the fence and meters away from it to come over and give your product a try.

Understanding the Significance of Cannabis Marketing

A cannabis marketing strategy that employs the omnichannel approach will engage new customers and re-engage old customers to make sure your business grows. Doing this means investing in SEO to grow your organic traffic, display advertising both digitally and physically, and a method of remarketing like email or SMS engagement. This might sound like a lot, but think about all of the different ways successful companies engage with you. Coca cola spends millions of dollars on advertising. You don’t need to spend millions, but you should be spending enough to compete with other dispensaries and cannabis brands, and that means having at least a few different avenues of interacting with your customers. 

Cannabis Marketing Agency

Know Your Target Audience

It’s nice to imagine 80 year old grandmothers smoking joints, and its possible that there are at least a handful of 80 year olds in your audience, but spreading yourself too thin and trying to appeal to them means potentially missing out on a much larger audience of people aged 21-35 who are already sold on your products but haven’t learned your name yet. Part of your cannabis marketing strategy is identifying who your likely buyers are, and selling to them. Not all cannabis brands need to appeal to the 21-35 demographic, even if they are one of the largest demographics in the space. There are niches in all age demographics that are worth pursuing, but you need to be aware of who you are targeting with your marketing so you can measure the effectiveness of your cannabis marketing strategy.

Cannabis Marketing

Crafting a Compelling Value Proposition

Your cannabis marketing strategy should define a clear and unique selling proposition that aligns with your buyers’ needs. Your potential customers will compare you and your brand to similar brands based on price, packaging, and product quality. In order to convince someone already shopping with another brand, you need to beat them on at least one of those three points badly enough to make them forget about the other two. If you are a brand developing your own products, you can pull all three of these levers to beat your competitors. A fourth avenue of attack is having a unique value proposition. This means being the first to do something, and being the only person or company that can offer this to your customers. Sometimes it isn’t just about being the first person to make a product, it’s about being the first person to market the product to a demographic. If you’ve identified a niche market and none of your competitors are trying to sell to that market, that gives you an opportunity to differentiate yourself from them.

Establishing Brand Presence and Credibility

Building trust and credibility is a linchpin in cannabis marketing. Leveraging your brand’s reputation and showcasing quality, reliability, and consistency fosters buyer confidence and leads to more word of mouth sales. You can do this by utilizing an omnichannel approach. The more effort you put into your marketing strategy now, the more your efforts will snowball and eventually avalanche into a powerhouse brand. Incorporating an organic traffic generator like SEO or social media marketing with a direct or paid approach like display advertising will get eyeballs on your brand, and converting those eyeballs into dollars requires email or text message marketing.

When thinking about pricing for your cannabis marketing strategy, you have three options. You can undercut your competitors and sell your products for less than them. This may be enough to convince some buyers that they should try your product over competitors. A disadvantage of this is that customers are very resistant to price increases, and if you plan on raising prices at some point you will receive backlash in the form of less orders in the future. Lower prices also mean smaller profit margins, and less room for large sales when your competitors are running their own promotions. Pricing at the same rate as competitors or even higher than competitors is safe if you believe your product offering is as good or better than theirs, and leaves room for running sales at the same time. Make sure you’re keeping your own costs and overhead into account, and don’t get sucked into running promotions too deep to match a competitor that is trying to burn the rest of the market.

 

Analyzing Metrics and Refining Strategies

Key performance indicators (KPIs) are your compass. Establishing those KPIs is the first step to measuring results and improving your cannabis marketing strategy and business as a whole. You can look at sales, but its also important to track your marketing efforts. Marketing efforts aren’t always tracked directly by sales. For things like email marketing, you should be looking at your open and click through rates, and how many new form submissions you get each month. Having a functional website with strong SEO is essential for every business, and measuring performance on keywords and organic traffic will be integral to sustained growth. Each different avenue of marketing has its own KPI to track, and the more marketing you’re doing, the more there is to track, and the more opportunities you have to grow.

Cannabis Marketing

Work With Us

Crafting an effective cannabis marketing approach isn’t just about selling products; it’s about building relationships and fostering trust. At Seedless Media, we’re committed to empowering your cannabis business with tailored marketing solutions that align with the nuances of this ever-evolving industry.

Let’s embark on a journey together to elevate your cannabis marketing strategy. Explore how Seedless Media can optimize your business growth and navigate the complexities of the cannabis market with expertise and dedication.

digital-marketing-consultants
The Seedless Media logo

join Our mailing list

Leave your email to us and we will keep update you