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Top 5 Cannabis Business Resolutions for 2021 | Cannabiz Media

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We made it through 2020! Whether you’re a cannabis license holder or you operate an ancillary cannabis business, January marks the time to focus on improvements, and after the year we just went through, business resolutions are a must for 2021 – particularly branding and marketing resolutions.

Why? Because 2020 taught us a lot!

In comparison to many other industries, cannabis businesses fared well during a global pandemic and economic and political instability during 2020. According to data analyzed by Leafly, sales of recreational and medical marijuana jumped by 67% in 2020 from $10.7 billion in 2019 to more than $17.9 billion in 2020.

In fact, consumers’ average monthly cannabis spends increased by 25% to 40% in 2020, and nine states more than doubled cannabis sales in 2020 over 2019: Arkansas, Connecticut, Florida, Illinois, Maine, New Jersey, North Dakota, Ohio, and Pennsylvania.

With a new year in mind, an end to the COVID-19 pandemic possibly in sight, and valuable lessons learned during 2020, following are five of the most important cannabis business resolutions for 2021 that both license holders and ancillary businesses should prioritize in their branding and marketing plans.

1.   Make Content Your Digital Marketing Priority

Content is the foundation of your brand’s online footprint, and it has the power to drive long-term, sustainable, organic growth to your business – not just in terms of website traffic and leads but also in conversions and sales.

It’s been proven again and again – companies that publish useful, meaningful, relevant content on their websites and share that content with the right audiences through social media, email marketing, and so on not only get more organic search engine traffic but also convert more website visitors into buying customers (both online and offline).

The reason is simple – publishing and sharing useful, non-promotional content builds brand trust. It’s a long-term strategy that should be the backbone of every cannabis company’s marketing investments in 2021.

2. Focus on Knowledge Translation for Brand Building and Industry Normalization

Knowledge translation is a term introduced by the Canadian Institutes of Health Research (CIHR) in 2000. In simplest terms, it’s a process of getting complex information learned through research into the hands of people who will use it in practical applications and everyday life to make important decisions. It goes beyond simply educating people to ensuring the information is actually useable, iterative, and impactful in the real world.

For the cannabis industry, knowledge translation is essential to ensure medical patients and retail consumers understand what they’re buying and the products they’re using, but it goes beyond the consumer transaction. Knowledge translation needs to happen across the supply chain – from seed to sale – and it needs to happen between businesses  as well as from cannabis businesses to federal, state, and local regulators.

As the United States moves closer to federal decriminalization of cannabis in 2021 and more states legalize adult-use cannabis, knowledge translation will be essential to ensuring the normalization of cannabis and the continued growth – particularly the responsible growth – of the industry.

3. Crisis-Proof Your Business’ Online Presence

Whether your business primarily operates online or in-person, 2020 taught us that every business must prioritize establishing a powerful and flexible online presence. Never before have so many companies pivoted their business models from brick-and-mortar to digital-first as were forced to do so when COVID-19 brought economic shutdowns across the country.

Virtual ordering, curbside pickup, and more became the new norm amid the coronavirus crisis. Even businesses that could keep their doors open were required to reduce staffing and/or shift to remote work. In short, no business was immune to the effects of COVID-19, and the world is unlikely to go back to the way it was pre-pandemic in the near future.

The lesson learned is simple. Your business must crisis-proof its online presence just like it does its offline presence so you can continue to operate no matter what surprises pop up in 2021 and beyond. Flexible businesses that can pivot quickly will win.

4. Get to Know Your Customers Better

How well do you know your customers? Do you have documented buyer personas created for each of your target audiences? Do you know what matters to each target audience? Both business-to-consumer and business-to-business companies need to get to know their customers better in 2021.

The days of sending generic email messages or ads to thousands, tens of thousands, or more people are over. Not only will bulk emailing with no customization for target audiences yield abysmal results, but it will also cause email service providers to associate your messages with spam. That means fewer (if any) of your messages will make it to people’s inboxes, so all of your efforts and investments will be wasted.

Today, customer experience (CX) is the hot topic. Customers don’t just want you to send relevant, personalized messages and ads to them. They expect it, and if you don’t meet their expectations (i.e., you send irrelevant content, messages, and ads to them), they’ll take their business elsewhere.

In 2021, you must invest time and money into getting to know your customers better. Use market research, customer feedback, and social listening, and create buyer personas so you effectively communicate with each of your target audiences.

5. Be a Business Purpose and Responsibility Leader

Are you an industry leader or follower? There is a significant opportunity in the cannabis industry for brands to establish key leadership positions, and one of those positions is to be a leader in business purpose and responsibility. These companies prioritize social, economic, environmental, and business responsibility in everything they do – from their values to their actions.

In August 2020, hemp CBD company Charlotte’s Web became a business purpose and responsibility leader in its niche when it earned B Corporation certification, which is a designation for companies that use the power of their businesses to build a more inclusive and sustainable economy while considering the impacts of their decisions on all stakeholders, including workers, customers, communities, and environments.

The key to resolving to be a business purpose and responsibility leader in the cannabis industry and use it as a powerful brand positioning differentiator is to understand that it’s a commitment. You need to walk the walk, not just talk the talk when it comes to owning this competitive advantage.

Ready to Make Your Cannabis Business Resolutions for 2021?

2020 is officially behind us, but that doesn’t mean we should ignore the lessons the past 12 months taught us. Make branding and marketing resolutions today that focus on content marketing, knowledge translation, brand building, crisis-proofing, getting to know your customers, and being a leader in business purpose and responsibility throughout 2021, and your business should end the year in a much better place.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cannabiz.media/blog/top-5-cannabis-business-resolutions-for-2021

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4 Tips to Market Your Marijuana Dispensary

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Even Marijuana Needs Marketing

Marijuana has become a household name. It has already turned that page of history when speaking about weed or smoking it was considered illegal and was punishable. Nowadays, people have a more accepting attitude to the preferences of others and many of them advocate for diversity of opinions and choices. Marijuana, cannabis, and weed, in general, have always been the subject of hot debates, but one thing is clear. People need them for various reasons. Some use marijuana to get that feeling of satisfaction, to feel happy, while others opt for it for recreational purposes. This means that the owners of marijuana dispensaries and shops already have a long-developed customer base. The only thing remaining is to target them carefully and market your product correctly to win their loyalty and trust.

Tip #1. Personal Values

Surprisingly, personal values play a significant role in choosing marijuana over other types of relaxing and recreational activities. Studies have shown that young adults, especially, highly value their health and well-being. However, as this period is probably the most stressful among the others in the human lifespan, young adults very often need something to unwind and have some rest. For these purposes, they can choose weed. Research has shown that young adults consider marijuana healthier than alcohol, and it has become an essential part of their emotional wellness.

Tip #2. Teach New Ways

This can be very applicable to adults and baby boomers. Thinking that marijuana can be interested only to youngsters is the very right step to cutting down a large part of your potential buyers. It turns out that baby boomers have been also interested in marijuana for years; however, they refrained from using it due to societal constraints. As a result, the boomers might not be very well aware of the new and healthier ways to consume marijuana. The best approach here is to advertise and educate boomers on the health benefits of it. On the other hand, it would be great to train your staff to be welcoming to boomers. The latter usually seek information and are very keen on learning and trying something new.

Tip #3. Use Personas in Your Marketing

Personas are a very powerful tool when it comes to marketing. When you do market research, you will see that certain population groups are especially interested in your product. Those groups can be broken down into subgroups based on their gender, occupation, location, etc. For each of them, you can create a persona – a representative figure which accumulates the interests and the motives of these groups in one person. You can name her or him the way you want; the important thing here is that you can consider that persona’s internal frame of reference every time you present a new product. You can use him or her to find out whether that new offer will work for that particular group or not. Based on various reasons, like the frequency of their purchases or benefits they want to get, you can come up with something even better.

Tip #4. Use customized items.

Using custom-printed items would do a great favor to any marijuana dispensary. It is something that helps stand out and promote your business without putting much time and effort into creating something new. Ganjaprint, an all-inclusive store of custom-branded promotions for dispensaries and smoke shops provides a big variety of lighters, bags, matches, grinders, jars and rolling papers, and much more. The best thing about Ganjaprint is that the dispensary-owner can order its logo to be printed on any product, which will make it more recognizable and would differentiate it among the others. For example, Ganjaprint has already come up with designs for refillable custom clipper lighters with a 72-hour rush print offered. Using their website, you can order these lighters or any item that you want choosing the colors and the location.

Marijuana’s Four

By carefully using the tips above any shop owner can make sure that he/she targets the right audience and communicates the products in the right way. On one hand, knowing your customers and speaking in their language would serve the need to win their hearts. On the other hand, applying for the services of Ganjaprint and ordering your unique items will help your product be in use longer than any alternative to it.

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Cannabis

4 Tips to Market Your Marijuana Dispensary

Avatar

Published

on

Even Marijuana Needs Marketing

Marijuana has become a household name. It has already turned that page of history when speaking about weed or smoking it was considered illegal and was punishable. Nowadays, people have a more accepting attitude to the preferences of others and many of them advocate for diversity of opinions and choices. Marijuana, cannabis, and weed, in general, have always been the subject of hot debates, but one thing is clear. People need them for various reasons. Some use marijuana to get that feeling of satisfaction, to feel happy, while others opt for it for recreational purposes. This means that the owners of marijuana dispensaries and shops already have a long-developed customer base. The only thing remaining is to target them carefully and market your product correctly to win their loyalty and trust.

Tip #1. Personal Values

Surprisingly, personal values play a significant role in choosing marijuana over other types of relaxing and recreational activities. Studies have shown that young adults, especially, highly value their health and well-being. However, as this period is probably the most stressful among the others in the human lifespan, young adults very often need something to unwind and have some rest. For these purposes, they can choose weed. Research has shown that young adults consider marijuana healthier than alcohol, and it has become an essential part of their emotional wellness.

Tip #2. Teach New Ways

This can be very applicable to adults and baby boomers. Thinking that marijuana can be interested only to youngsters is the very right step to cutting down a large part of your potential buyers. It turns out that baby boomers have been also interested in marijuana for years; however, they refrained from using it due to societal constraints. As a result, the boomers might not be very well aware of the new and healthier ways to consume marijuana. The best approach here is to advertise and educate boomers on the health benefits of it. On the other hand, it would be great to train your staff to be welcoming to boomers. The latter usually seek information and are very keen on learning and trying something new.

Tip #3. Use Personas in Your Marketing

Personas are a very powerful tool when it comes to marketing. When you do market research, you will see that certain population groups are especially interested in your product. Those groups can be broken down into subgroups based on their gender, occupation, location, etc. For each of them, you can create a persona – a representative figure which accumulates the interests and the motives of these groups in one person. You can name her or him the way you want; the important thing here is that you can consider that persona’s internal frame of reference every time you present a new product. You can use him or her to find out whether that new offer will work for that particular group or not. Based on various reasons, like the frequency of their purchases or benefits they want to get, you can come up with something even better.

Tip #4. Use customized items.

Using custom-printed items would do a great favor to any marijuana dispensary. It is something that helps stand out and promote your business without putting much time and effort into creating something new. Ganjaprint, an all-inclusive store of custom-branded promotions for dispensaries and smoke shops provides a big variety of lighters, bags, matches, grinders, jars and rolling papers, and much more. The best thing about Ganjaprint is that the dispensary-owner can order its logo to be printed on any product, which will make it more recognizable and would differentiate it among the others. For example, Ganjaprint has already come up with designs for refillable custom clipper lighters with a 72-hour rush print offered. Using their website, you can order these lighters or any item that you want choosing the colors and the location.

Marijuana’s Four

By carefully using the tips above any shop owner can make sure that he/she targets the right audience and communicates the products in the right way. On one hand, knowing your customers and speaking in their language would serve the need to win their hearts. On the other hand, applying for the services of Ganjaprint and ordering your unique items will help your product be in use longer than any alternative to it.

source link:platodata

 

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Cannabiz Media Client Spotlight – Shield Compliance | Cannabiz Media

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Shield Compliance is a comprehensive compliance management platform for banking cannabis-related businesses. The company’s focus is on transforming the way cannabis banks and legal marijuana financial institutions manage risk, comply with regulations, and satisfy operational demands across the United States.

Cannabiz Media recently spoke with Tony Repanich, President and Chief Operating Officer at Shield Compliance, to learn more about how he and his team use the Cannabiz Media License Database to support their business development, data intelligence, and license verification processes.

Why Does Shield Compliance Subscribe to the Cannabiz Media License Database?

Shield Compliance subscribes to the Cannabiz Media License Database for access to reliable industry intelligence and licensing data for the cannabis industry. “We rely on the Cannabiz Media License Database to bring information into our platform,” shares Tony Repanich. “It’s an important part of our license verification process and our licensed data set.”

Thanks to the reliable data in the Cannabiz Media platform, Tony and his team save a significant amount of the time and frustration previously required to find the data they need to do their jobs. 

Tony explains, “There are a lot of states that make it very difficult to get information about the licenses they’ve issued and the enforcement actions they’ve undertaken. Where we can get direct state integration to get data, we do that. However, where we need an additional uplift in terms of boots on the street or boots on the phone and keyboard to get the information from states that are more difficult to deal with, we rely on the Cannabiz Media License Database to bring that information into our platform.”

Bottom-line, Tony says, “The Cannabiz Media team has done a great job bringing together that information and having diligence around filling those gaps.”

What’s Next for Shield Compliance?

A big focus for Shield Compliance in the near future is its new onboarding solution. Tony explains, “We brought our new onboarding solution to market at the end of 2020, and it’s really helping our bankers streamline the onboarding process and creating a much better client experience. We’re really excited to get that in front of more bankers this year.”

With more states legalizing cannabis and launching new cannabis programs, Shield Compliance is focusing on future trends and the evolving industry. “We’re having a lot more conversations with bankers that we’ve never talked to in the past, like New York and New Jersey,” Tony shares. “We’re also having a lot more conversations with bankers about their willingness and ability to lend, which is great for the industry.”

For more information about Shield Compliance and to hear additional insights from Tony Repanich, follow the link and listen to Cannabiz Media’s recent Cannacurio podcast episode featuring Tony as the special guest.

To learn more about how subscribing to the Cannabiz Media License Database can help your business like it helps the team at Shield Compliance, follow the link and schedule a free demo.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cannabiz.media/blog/cannabiz-media-client-spotlight-shield-compliance

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New York Marijuana Legalization Bill Signed By Governor Cuomo

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Following Governor Andrew Cuomo signing into law a bill the state House recently approved, New York has become the 15th U.S. state to fully legalize marijuana for both medicinal and recreational use. Though previous legalization proposals in the state have fallen flat, this bill seems to have enough in it to satisfy most interested parties while ensuring marijuana is completely legal throughout New York. The New York marijuana legalization bill is worth taking a closer look at.

New York Will Work To Repay Communities Hit Hardest By Drug War

Though it may be easy to focus on the attention-grabbing headline that is one of America’s most influential states fully legalizing marijuana, there is much more to New York’s legalization story. The bill signed into law by Governor Cuomo aims at not only legalizing marijuana use, but righting the wrongs of the War on Drugs.  Once recreational sales begin, 40% of all tax revenue generated by the legal marijuana industry will go towards communities, primarily communities of color, which were unequally impacted by marijuana prohibition. According to the New York Times, the new law will ensure that, “people convicted of marijuana-related offenses that are no longer criminalized will have their records automatically expunged.” It is incredibly important to progressives to include equitable solutions to the wrongs caused by the War on Drugs. The New York legalization effort has clearly placed an emphasis on aiding communities most unjustly impacted by the drug war from the outset. Regarding New York’s legalization effort, Democratic majority leader Crystal D. Peoples-Stokes said, “Equity is not a second thought, it’s the first one, and it needs to be, because the people who paid the price for this war on drugs have lost so much.”  While ending prohibition and promoting equity are key, one other necessary component of cannabis legalization is education. Medical Marijuana 411 prides ourselves on providing the highest-quality and most up to date online cannabis education courses. Our Cannabis 101 course will provide you with all of the most current, scientifically-based research into the cannabis plant and its compounds. To check out the rest of our course catalog click here. 

A Massive Win For the Progressive Marijuana Movement

At this point, it seems as though a new state legalizes marijuana for medicinal or recreational use every day. The progressive legalization movement is seeing sweeping victories across the United States as we head into the Summer of 2021. What remains to be seen is if or when the federal government will take some sweeping action in order to be more in line with the majority of states in the Union. This is no longer a fantasy, it is a reality that may not be so far away.

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Source: https://medicalmarijuana411.com/new-york-marijuana-legalization/

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