Marketing a cannabis business can be a tricky and complicated endeavor. With strict regulations and a crowded market, it’s important to ensure that you’re making the most of your marketing efforts. Here are five DOs and DON’Ts to keep in mind when marketing your cannabis business.
DON’T overlook experience in the cannabis industry
One of the most important things to keep in mind when selecting a marketing team is to look for a team with experience in the cannabis industry. This is because the regulations and restrictions around marketing cannabis products are different from other industries, and it’s important to work with a team that understands these nuances.
DO look for a team with a track record of success
While experience in the cannabis industry is important, it’s also crucial to work with a team that has a proven track record of success. Look for case studies, testimonials, and references to ensure that you’re working with a team that knows how to deliver results.
DON’T rely solely on online attribution
While online attribution is important, it’s crucial to measure both online and retail attribution to get a complete picture of your marketing efforts. This will help you understand how your online and offline marketing tactics are impacting your overall sales and revenue.
DO prioritize transparency and communication
Transparency and communication are key when working with a marketing team. Make sure that the team you choose is open and communicative, providing regular updates and insights into your campaign’s performance.
DON’T disregard data privacy laws
Programmatic marketing relies on collecting and analyzing data, but it’s important to adhere to data privacy laws, such as the GDPR and CCPA. Failure to comply with these laws can result in legal penalties and a damaged reputation.
DO ensure compliance with industry regulations
When marketing cannabis products, compliance with industry regulations is critical. Make sure that the marketing team you choose is well-versed in these regulations and takes them seriously.
DON’T neglect creative development
While marketing tactics like programmatic advertising are automated, it’s important to have a strong creative team that can develop compelling ads and messaging that will resonate with your target audience.
DO emphasize targeting and audience segmentation
Programmatic marketing allows for precise targeting and audience segmentation, which is especially important in the cannabis industry. Look for a team that has expertise in these areas and can help you reach your ideal audience.
DON’T ignore measurement and optimization
Programmatic advertising allows for real-time measurement and optimization, so it’s important to work with a team that prioritizes this. This will help you understand what’s working and what’s not, allowing you to make adjustments and improve your overall ROI.
DO prioritize ongoing optimization and testing
Finally, it’s important to prioritize ongoing optimization and testing new channels to improve your campaign’s performance over time. Look for a marketing team that prioritizes ongoing optimization and keeps a pulse on the industry landscape to help you achieve better ROI and a stronger overall performance.
In conclusion, marketing a cannabis business requires a strategic and thoughtful approach. By keeping these five DOs and DON’Ts in mind, you can ensure that you’re making the most of your marketing efforts and reaching your target audience effectively.