The Cannabis revolution has begun, and the competition in this industry is fierce.
As cannabis legalization sweeps the nation, it is crucial to create a unique brand that is memorable and appeals to consumers. Building value in this industry is dependent upon your marketing strategy. Focusing on key marketing fundamentals can help you develop an effective and prosperous roadmap for your business.
Here are four basic marketing tips to take your business to the next level:
1. Actively Generate and Share Content
We live in a world where consumers gather most of their information from digital sources. Make your business known by consistently promoting content in the following channels: blog posts, social media, email newsletters, and SMS messaging campaigns.
Brand awareness is the driving force to success and is dependent on the content you share. However, be wary of the quality of your content. Be mindful of your language and vocabulary, stick to brand guidelines, and discover how to be original.
2. Invest in High-Quality Photography
Marketing is all about communicating your value to the customer. Unfortunately, many businesses lack understanding of how quality photos help convey their story. In this age of high-smartphone engagement, visual stimulation is more important than ever before. Capture the beauty of your products and strive to display them as artwork.
Research shows that consumers feel that the quality of a product’s image is more important than descriptions, ratings and reviews.
Capture the shopping experience within your store by photographing the space, your staff in action, and products on display. Share the photos on social media, your website, or printed ads. Excellent photos have the power to engage and entice viewers to dive deeper and explore your business.
3. Design Unique Packaging
36% of consumers choose to buy a product based on its packaging design, which means you need to think past the product itself. Every dispensary must package their products the same and abide to certain regulations. Take advantage of all that packaging and bring it to life with your brand. Similar to any retail experience, many consumers continue to use the nifty bag that their products came in. Customers prefer packaging that is aesthetically pleasing and reusable, and in turn, become brand ambassadors of your business.
4. Pay Attention to Analytics
Analytics drive marketing decisions. By tracking and measuring your business’s performance, you will be able to better optimize your marketing efforts. Record how many people come into your store on a daily basis, customer buying habits, products that are sold each day, social media engagement, and more.
With this data, you can hone into what works and what doesn’t work for driving sales, and eliminate the guesswork of running your dispensary. Businesses that use data to make better marketing decisions can increase their store profitability by as much as 15-20%.
For long term success, it is important to establish an unforgettable brand that perfects even the smallest marketing efforts. Spend time clearly and thoughtfully considering your brand identity, learn as much as you can about cannabis marketing, and be fearless about going above and beyond.