Growing Your Brand in the Cannabis Industry
In 2017, there were over 20,000 marijuana dispensaries in the country. That number will only grow as more states relax their laws on cannabis. The cannabis industry took in over $9 billion in revenue in 2017 alone. Anyone who plans on opening their own dispensary in the near future needs to be aware there will be a lot of competition. Whether you are based out of California or Colorado, there are many steps you need to take to grow your brand and stand out in your area.
Be Active on Social Media
Social media is a tricky area for cannabis dispensaries. Since the substance still has a Schedule I designation on the federal level, many platforms prohibit paid campaigns from these businesses. The platforms also limit the type of content these companies can share with their followers. As time goes on, these regulations will relax a bit, but for now, you still need to grow your brand.
The easiest thing to do is to engage with your audience. When someone comments on a post, you can respond. This makes consumers feel as though they are engaging with a real person instead of a corporate computer. You can make yourself easier to find on social media platforms by utilizing hashtags. You should think of hashtags related to your industry, such as #music or #yoga so that people interested in those fields can find you.
Finally, your social media pages should focus on the lifestyle rather than a specific product. Many users already know what they like, so you do not necessarily have to promote every single strain you have. Instead, you need to post content related to entertainment and music. Marijuana can enhance those experiences.
Get Involved with the Community
In 2019, your cannabis brand needs to exist in the digital realm. However, that does not mean you can neglect the physical world. One of the best things any emerging business can do is to get in front of people. You need to grow brand recognition in your community by sponsoring events, including ones that do not necessarily relate to marijuana. You can participate in yoga retreats and music festivals to find your next customers.
In the event you cannot find any events you can be part of, you can create your own. For example, you can host monthly yoga classes in the park where you can then promote your lines of cannabis. You could also host a Q&A. You can invite marijuana professionals to answer questions. This is a great way to draw in people who are on the fence about using cannabis for the first time. There is no shortage of opportunities. You just need to be creative.
Define Your Corporate Identity
Before you even open your doors, you need to decide what your brand will stand for. What do you want to be synonymous with? You should naturally offer a great line of products at a reasonable price, but you also need to make sure customers know what to expect when they visit you for the first time. By having an actual identity, you ensure people continue to visit you because they feel a sense of loyalty.
This brand needs to branch out into every aspect of the business. When you have a recognizable voice, how will you communicate to people over the phone and online? You need to figure out what kind of packaging and colors you will incorporate into the products. Here are a few considerations to make when deciding upon an identity.
● Audience: What demographics do you want to target? Wanting to appeal to millennials will require a different marketing strategy than if you want to target older people looking to use cannabis for predominantly medical purposes.
● Vision: You then need to decide what vision you want to have. This involves creating a vision statement. With this statement in mind, you can better ensure consistent messaging. You also ensure all the stakeholders maintain a common goal.
● Value Proposition: You need to look at other cannabis dispensaries in your area and decide what makes you different. What can you offer customers that no one else can provide? You need to convey this quality in all your messaging.
● Personality: To decide on this, you need to think of your business as a person. What personality would it have? Would it be sassy or confident? It does not matter what you decide on, but you need to make sure it is consistent across all forms of media.
One final way you can grow your brand is to bring your business to the Indo Expo. We are the premier cannabis trade show where you can network with other marijuana professionals and enthusiasts to grow your brand. We are here to help you in any way we can. Any questions or comments you have can be directed to our online contact form.