Traditional advertising entails certain specific media and usually rote methods of how to deal with a campaign. In cannabis, because of the many rules, regulations and limits on types of media available, the approach is inherently different. Social media, video marketing and an actual web presence are three things that are critical.
The cannabis industry is no different than any other industry in the fact that branding is one of the most important aspects of any business, large or small, retail, wholesale or B2B. An effective brand strategy gives a business a major edge in increasingly competitive markets. But what exactly does “branding” mean? How does it affect a small business like a cannabis business?
The important thing to remember in any type of advertising and marketing campaign whether you are a multi national company like Proctor & Gamble or Nike or a family run dispensary in Portland, Oregon, what is your ROI or return on investment? You should reasonably expect to get an ROI of at least 2:1 but hopefully a lot more. (That is why we offered the 280E tax deal because it gives about 27:1 return.) So there are all sorts of “marketers” out there that will sell you $300 worth of coffee mugs or $1000 worth of T-shirts. But, first of all you can’t deduct those and really, what is your ROI? And how do you judge that? Don’t get me wrong advertising specialties are the backbone of branding. It shows who, what and where you are. They are your brand. They are important but are not the first line of advertising. Remember, your advertising dollars should go into something that will make you more money than you paid for it. You can’t survive any other way.
So we recommend the first line of advertising in cannabis to be social media, an actual web presence and ad placements with available media. Usually because of budget constraints we also recommend advertising that scales in this order. We have found that it appears the best ROI comes from a systematic social media presence and scheduled postings. The beauty of this is it can all be handled in house at the cost of the employee that does it. However, I will tell you from my own experience this is best left up to the professionals who do this as work and don’t try to do it yourself. I really didn’t start getting results until I hired a professional. Now we have a whole team of professional writers, posters, media producers and …………..
The second step in your marketing and advertising campaign would be to establish a concerted effort across social media platforms. To compare our services and price sheet CLICK HERE.