Business is booming in the cannabis industry. There is much to know when it comes to your Cannabis branding and marketing, and that is going to be a large factor in the success of your business. Some of the strongest companies in the cannabis industry have built multi-billion dollar businesses based on a strong brand identity.
Outsourcing
There are several companies out there that are designed to help you with the exact resources you need to start your business, especially if you are unsure of a lot of parts, or very new to the industry. You can outsource a company to help you with your logo, branding, packaging, and other important aspects of your business.
Packaging
- Cannabis packaging should attract your target customers: Attractive packaging triggers more intense activity in areas of the brain associated with impulsivity than neutral packaging. Attractive packaging also triggers reward responses in the brain. Your packaging can also let your customers know that you have a quality product.
- Cannabis packaging should inform: The best custom branded packaging design successfully balances design and information. It is important to keep in mind guidelines, which vary on where you are located. Consider what requires packaging to include dosing information and instructions for safe use, as well as batch numbers and expiration details.
- Cannabis packaging should protect the product: Proper seals, child safety packaging, tampering protocols, the packagin must protect the product, of course, different products will present differing packaging requirements based on the level of protection they require. Warning labels shold also be considered as well.
- Consider cannabis packaging design trends: Choosing your packaging design that wil stay relivant for long periods of time will be helpful, so you don’t have to re-brand too soon and being environmentally friendly should be top of mind.
Marketing
Advertising can be tricky. Advertising for cannabis is for the most part not allowed. Google Ads and social media ads don’t allow it, while billboards, TV commercials and print advertising are allowed under certain circumstances, but are something you should read up on. Some municipals require a certain percentage of the population exposed to the advertisement to be over the age of 21 years old. The most important thing you should take into consideration is that you can’t refer to the medical or healing benefits of CBD in advertisements.
It’s also important to know the marketing of cannabis in Canada, including promotions, displays, labelling and packaging of cannabis, cannabis accessories and related services, is heavily restricted. The Cannabis Act contains a general prohibition against false, misleading or deceptive promotions in relation to cannabis, including its characteristics, value, quantity, composition, strength, concentration, potency, purity, quality, merit, safety, health effects or health risks.
The cannabis market is a lot different from markets of other products. So don’t be afraid to try out unconventional ways to market your offerings.
The Competition
With the number of cannabis businesses that have popped up over the last few years, it is vital for you to stand out above the rest. What can you do to be unique and memorable? From promoting, staying relevant, to possibly rebranding? Here are some other factors to consider:
- Establish your brand: Every brand connects with people in its unique way. Think of the values with which you resonate the most and want to pursue. Cultivate your brand image with thoughtful care around your mission, aesthetic, and culture.
- Make your products distigushable: Make your business and products unique. They should be accessible to your audience, which can only happen when you have consistency in their naming and labelling process. Work on your online sales by maiing sure you always have products high in need readily available.
- Capitalize on popular/new products or special events: Stay on top of popular items and trends that are more prominent. Offering these differentiated or unique products can help you significantly tap into a broader audience base. Special events and holidays are a good chance to try advertising unique items of your store. You can also consider promoting a specific product for a particular occasion or a kind of customer.
- Be aware of your changing demographics: Today there are more and more broader demographics turning to the use of cannabus and CBD. One good example, the Baby Boomer population has become an important demographic. They are 67% more likely to consume cannabis to replace prescription or over-the-counter medications.
According to the predictions, the cannabis industry has a strong future, and we all know it. It’s estimated to be worth $7 billion annually. With the growing number in sales is attached the growing interest to be part of the business. If you decide to get into the cannabis industry knowing your branding and marketing strategies is definitely a good start. Continue to do your research and know what you’re selling and you too could be successful in the cannabis industry.
If you have any tips of the trade, don’t be afraid to leave a comment!