Cannabis enthusiasts and growers alike have been excited over the past several years because of the changes taking place industry. Marijuana’s push to become widely accepted has been gaining significant traction in hostile regions and further reinforced in areas where the push has already made progress.
In 2020, the industry made nearly twenty billion dollars in revenue, and the industry is only growing. If you’re interested in the latest trends in the industry, here’s a small guide from ThrivePOP of the exciting and groundbreaking things happening for the next year.
Restrictions Are Lifting but Are Still Rigorous
Those who want to advertise their product and spread the word about the growing industry still have significant hurdles to jump through. Google, for example, still sets strict standards about what can and cannot be advertised directly with its search engine, and the cannabis industry is still tied down by the many restrictions imposed by the internet giant.
Despite these restrictions, the outlook on marijuana and cannabis-related products, such as CBD, is trending in a positive direction and authorities both state and federal are aiding the push to make marijuana legal in more states. For now, however, small businesses are still using creative tactics to sell their wares.
Smart and Intuitive Strategies in Branding
Because of the difficulties regulations impose on the advertising of cannabis, marketing experts around the country have emphasized a shift back to the fundamentals. Many companies, both large and small, are being encouraged to identify the many unique features of their individual brands of cannabis. At its heart, advertising is the showcasing of a brand in a new and exciting light, and experts have highlighted this basic principle as a must for cannabis salesmen.
Companies have been scrambling to showcase the medical and/or heightened pleasure differences in their brands compared to their competitors in order to separate themselves from the pack and cut through the murky swamp of uncertainty caused by legality and apprehension issues.
Focus is Shifting to User-Generated Content
Social media has had a profound effect on the marketing efforts of industries across the board, and cannabis is no different. Many consumers feel they identify to a greater extent when they see their peers using products. This form of marketing greatly helps companies relate to their customers and provide a form of “social trust” between the brand and those who consume their product. Companies are taking advantage of social media platforms such as Instagram and Twitter to expand their reach and appeal directly to their customer base.
The wider the reach is on social media, the greater and more enthusiastic the conversation between customers. Photos, videos, and comments are all invaluable in the age of the internet on buying habits around the county and globe.
Niche Sites Are Growing
Another clear trend emerging in the industry right now is the emergence of niche websites. Like many trends right now, these websites are becoming popular because of their assistance to cannabis enthusiasts and companies to circumvent the ban on Google and other sites. There are many websites dedicated to talking about, reviewing, and generally discussing marijuana and other cannabis-based products.
Companies are increasingly taking advantage of the perception that what they have to offer is unique and different from other hobbies and are interacting with the enthusiast in ways that traditional hobby companies cannot. The network, as such, is becoming strengthened by love for the product and the marketing efforts of the companies behind some of the most popular cannabis brands.
Education is a Foremost Sales Tactic
Another strategy catching on in niche industries besides the cannabis industry is education. Customers are far more likely to buy a product if they know exactly what benefits they’ll see and how the product will affect them during its lifespan. This strategy is particularly effective in this industry because there exist a number of myths and false information about cannabis which makes many in the mainstream apprehensive to try it. Debunking these myths and driving factual campaigns about products helps to dissipate tension over marijuana and has led to higher sales for many companies.
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