27 Jan Creative Marketing Strategies: How to Market a Cannabis Company
Partnering With Complimentary Industry Brands
For companies operating within the cannabis industry, a partnership could be beneficial to both parties whereby each party faces similar marketing restriction problems. Such a partnership provides a superb way of growing brand awareness by utilizing the existing customer base of the partner. An example of an advantageous cannabis-industry partnership is that between Greenlane Holdings, a cannabis dispensary distributor, and Canopy Growth, a company that produces cannabis products. The partnership benefits both brands.
Leverage Current Audiences With Sponsorships
The ultimate objective of any company is to build its own customer base and audience. Companies operating in industries that are highly regulated can build their own audience by exposing their advertisements to existing customer bases through sponsorships. Sponsorships are attained through direct negotiation with the media-hosting company or the company that runs the event to be sponsored.
The following are different types of media and events that cannabis companies can sponsor:
1. 32% of the American population listen to podcasts at least once a month. There are also over 850,000 active podcasts, thousands of which focus specifically on cannabis. Therefore, podcasts are exceptional sponsorship options for legitimate cannabis companies.
2. Cannabis events and trade shows. Such events help to bring cannabis brands in front of loyal audiences and industry peers. This could secure new opportunities.
3. YouTube Channels. These are deals negotiated with YouTube content creators. The cost depends on the channel industry and the total number of channel subscribers.
Investing in Local Billboards
Different recreational-legal states and cities have different regulations and laws on how to market stores within city limits. However, billboards offer a simple and clear way of exposing a cannabis brand to local customers in most legal states.
Planning Your Own Events
Planning a local event ensures that the cannabis brand of the company is at the forefront of the event. A simple barbeque or meetup can be an excellent way of improving the standing of a cannabis business in the local community. Larger national brands can consider hosting small conferences on their own. These provide better networking opportunities as well as deeper relationships with those in attendance.