As the legalization of cannabis continues to spread across the globe, the competition among cannabis companies is increasing. To stand out from the crowd, cannabis businesses must develop effective marketing strategies to reach their target audience. In this article, we'll explore the latest trends in promo marketing for cannabis companies in 2023. We'll look at different types of promo marketing, from social media campaigns to experiential events, and see how they can be tailored to the unique needs of the cannabis industry. We'll also discuss tips for creating engaging and effective promo marketing campaigns that resonate with your target audience. Whether you're a small startup or an established cannabis company, this blog post will provide you with the insights you need to develop a successful promo marketing strategy. Here are 7 strategies that can help your cannabis company stand out in 2023:
It is undeniable that there is a significant overlap between social media platforms and cannabis-driven marketing. To ensure that your content is engaging and valuable, it is important to keep it current and informative.
The best approach to using social media involves highlighting your products and using the platform to share helpful tips and relevant information about your offerings. There are numerous opportunities for creating compelling content in the cannabis space, including educating consumers on safe cannabis use, highlighting the differences between strains, products, and ingestion methods, and sharing market surveys or scientific research on cannabis products.
However, it is important to keep in mind that marketing cannabis on social media can be challenging due to the platforms' specific regulations. This may limit the kinds of content you can create and prevent you from running paid advertisements. Therefore, it is crucial to carefully review each network's guidelines.
💡 The Key Takeaway: Despite social media platforms regulating cannabis-related content, it is still a viable marketing strategy for cannabis businesses to use in 2023. Social media offers a fantastic opportunity to engage with local consumers and showcase your brand's unique personality.
Utilizing influencer marketing can be a highly effective tactic for cannabis businesses, particularly in an industry where trust plays a crucial role. Collaborating with established influencers who have a substantial following can enable you to leverage their audience and boost the reputation of your business.
According to research conducted by Search Engine Watch, 71% of consumers are more inclined to purchase from a business that an influencer recommends. This highlights the importance of finding influencers who align with your brand values and have a genuine interest in your products or services.
💡 The Key Takeaway: Partnering with social media influencers can help increase brand awareness and reach a wider audience. Find influencers who align with your brand values and target the same demographic as your target audience.
Offering promotions and discounts is a great way to attract new customers and retain existing ones. Consider offering a discount to first-time customers or a loyalty program for repeat customers. For example, The most commonly used retail promotion is discounting products. Offering sales discounts is an effective way to grab customers' attention, as everyone loves a good deal! Discounts can be given in the form of a percentage, such as "10% off pre-rolls," or as a dollar amount, such as "$5 off cartridges." You can apply promotional pricing to your entire dispensary or specific products, depending on what works best for your business. While storewide promotions generate the most buzz, it's crucial to choose a strategy that suits your dispensary's needs. Another example is loyalty points. Loyalty programs are a great investment because they can increase customer retention and maximize their lifetime value. By offering loyalty points, customers can earn rewards every time they make a purchase, and gain enough points to qualify for discounts or even free items.
💡 The Key Takeaway: Deals and promotions work for a reason: when you add value to the customer experience, customers are more likely to shop. And when paired with a strategic and creative marketing campaign, promotions build buzz, too. Everyone loves a bargain! Don’t forget to review your local marketing and advertising regulations to make sure all dispensary promotions are compliant in your state.
Participating in industry events such as trade shows and expos can help your company make connections, network with potential customers and partners, and increase brand visibility.As the cannabis industry continues to grow and more states legalize it, attending cannabis events can provide significant opportunities for companies. By attending the right trade shows, businesses can connect with potential customers and partners who are eager to learn more about their company.
💡 The Key Takeaway: To find the most suitable cannabis event, doing research is crucial. One approach is to speak with cannabis interest groups and related organizations to gain insight into upcoming events. Being selective and strategic about the events you attend can have a more positive impact in the long term. To ensure success, establish a clear business objective in advance and choose events that align with your goals.
Utilize targeted advertising to reach your desired audience. Platforms like Google AdWords and Facebook Ads allow you to target specific demographics, interests, and behaviors, making your advertising more effective and efficient. While the cannabis industry is expanding, many traditional advertising channels are still off limits such as television, radio, and even billboards in some cases. This can make it difficult for cannabis businesses to get the word out about their products and services. For example, In the state of Massachusetts unsolicited pop-up advertisements on the internet, and advertisements on the radio are not allowed.
💡 The Key Takeaway: SEO is more important than ever, focusing on digital marketing by optimizing your website for specific keywords, you can increase your chances of appearing at the top of search results, which can lead to more traffic and more sales.
See cannabis advertising regulations by state.
It's no secret that the cannabis industry is rapidly growing, which means that competition among businesses will only become more intense. But don't worry, there are ways to stay ahead of the game! One way is to focus on creating a strong online presence through quality content and smart use of social media, email marketing, and influencer partnerships. By doing so, your cannabis business can differentiate itself from competitors and thrive in the industry's future.
If you're a cannabis business owner looking to level up your marketing efforts in 2023, consider getting in touch with a specialized advertising company like Stran! We can help your business stand out in the competitive cannabis industry. With our help, you can reach more customers and achieve long-term success!
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