NEW YORK, NEW YORK, USA, August 16, 2022 /EINPresswire.com/ — Marketing is how a business communicates with potential customers. It is through marketing that a business can convey what it offers and how it stands out among competitors. The cannabis industry is no different. However, it is a relatively new market. The marketing principles that are followed by other mainstream or niche industries may not apply to this industry. But marketing remains an integral aspect of business success. Those who are offering their cannabis services often fail at marketing because of the following reasons:
Overlooking Branding and Public Image
While marijuana and cannabis have high demand, simply selling cannabis products is not enough for businesses. The brand of a cannabis business is crucial in how it is perceived by the public. Any company in the cannabis industry should pay attention to its brand image and public-facing aspects of marketing.
A few years back, the sale of marijuana or cannabis grow kits was not legal. They could only be bought off the black market. Therefore, cannabis businesses should strive for brand images that are professional and legitimate. The worst thing a business can do is emulate the back-alley subterfuge that was formerly the cannabis market. It is important for businesses to present themselves as legal and legitimate.
Not Adhering to Cannabis PR & Marketing Regulations
A business in the cannabis industry will have to follow the guidelines put forth by the law and the policies of the media channels they advertise in. These guidelines, however, are constantly changing. This flux is seen mostly in social media channels.
A social media platform may change its policy regarding marijuana and associated products overnight. With the changing laws, there will be a change in how cannabis is marketed on social media. But a business should strive to remain updated on the regulations and follow them. A few things that cannabis businesses can keep in mind are:
● Not showing the consumption of cannabis.
● Not using risky hashtags or keywords.
● Refraining from running ads around cannabis – since it is still an illegal substance, according to federal law.
False Advertisement
The primary objective of a marketing campaign, especially on digital platforms, should be to provide value to customers. If a business lies about its product or exaggerates what the product can do—then its campaign may backfire, and the customers lose their trust in the business’s brand. In the cannabis industry, businesses should focus on information that is backed by research and studies.
Lack of Unique Ideas or Offerings
A new market tends to interest enterprising entrepreneurs. With the increasing legalization of marijuana, there have been multiple businesses cropping up that sell cannabis or associated products. With numerous competitors offering the same product, a business needs to stand out to succeed. The business needs to find out how its product is different from its competitors. If there is little difference, then the focus should be on research and development to improve industry standards.
Ronn Torossian founded 5WPR, a leading cannabis PR agency.
Ronn Torossian
PR Executive
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