Since legalization, thousands of cannabis businesses have sprung up all over the country to get a piece of the forecasted $11 billion industry. The best way to get noticed in the sea of green is to have a solid marketing strategy, but what if your marketing strategy isn’t working?
Here are four common mistakes your brand might be making:
1. Unfocused Blog (or no blog at all)
You need a content strategy – especially in the emerging world of cannabis. Misinformation about products and their effects is high, but luckily so is curiosity. People have questions and are looking to brands for answers. Helpful content is one of the best ways to build trust and brand loyalty. Studies show that consumers are 60% more likely to think positively about your brand and 131% more likely to purchase a product after they’ve read educational content about it on your website. Not only that, but their opinion of you actually goes up over time.
Create goals that you want to achieve with your content and be specific. Outline a handful of buyer personas and target them directly. Make sure every single post aligns with your goals and is valuable to your target buyer.
2. Not Marketing to Women
Now that cannabis is becoming more socially acceptable and easier to acquire, women are starting to be more open with their cannabis use. According to Eaze Insights, the number of women who use cannabis has doubled in 2018 alone, making up 38% of cannabis consumers. That number only continues to grow as more women feel confident sharing their relationship with cannabis – more than half of women hide it according to a Van der Pop survey.
Biologically and socially, women sometimes experience the effects of cannabis differently. The abundance of estrogen can change how the female body reacts with THC, and women generally feel dizzier and tend to melt into the couch. That cozy feeling is probably why most women reported using cannabis to manage their stress and anxiety.
3. Not Marketing to Boomers
In 2019, half of new cannabis users were over the age of 45 according to Statistics Canada. Older Canadians turn to cannabis for help with chronic pain and relaxation. Some are interested because they used to dabble in cannabis when they were younger and feel safer doing so again now that the product is legal. Others don’t care about the psychoactive effects and only want to use CBD. Regardless of what boomers use cannabis for, they are willing to pay for it. Most baby boomers have a little bit more money to spend and generally pay 53% more than those in Gen Z.
4. Not Creating and Using an Email List
The cannabis industry is fresh and exciting, and a lot of different brands are vying for attention – including yours. How do you stay in front of your prospects’ eyes? Pop into their inbox every once in a while, and I do stress every once in a while. Make sure you are only sending valuable content. That could mean helpful blog posts and guide books or coupons for accessories.
Unlike the marketing techniques of old, modern marketing is all about connecting with your audience in a positive way. The more you do for your prospects, the more they can do for you.
Photo courtesy of Kyle Ryan.