marketing Archives - Green Market Report

StaffNovember 25, 2020
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8min12380

The holiday shopping season is the holy grail for consumer brands, particularly for those looking to recapture markets lost during the pandemic. However, this season is also the most competitive when it comes to marketing, and it can be a challenge to break through the chatter without breaking the bank. 

For CBD brands, the added difficulty is to resonate with target audiences while staying squarely within regulations. However, with the right digital strategy, it is possible to optimize budgets and achieve meaningful results.

Holiday marketing in a pandemic

Already a growing trend, eCommerce has become the new normal during the COVID-19 pandemic. Most Americans are stuck at home and spending more time on devices, and nearly two-thirds are expecting to change their buying habits by the end of the pandemic. 

To capture these audiences and convert those who are open to new brand preferences, it’s important to keep campaigns running and maintain a full sales funnel, with messaging, marketing tactics, and a customer experience that is sensitive and tailored to the pandemic and to the holiday season. 

Meanwhile, brands should not lose focus on their loyal base. Remind customers what makes your brand special with regular communication and messaging that conveys a solid grasp on current events and emphasizes gratitude for their continued patronage. Building a positive, emotional relationship with customers is one of the strongest moves that businesses can make during this difficult time.

Businesses should also keep in mind that Q1 has become an important shopping season in itself, and extending campaigns into the beginning of 2021 can bring significant returns. Most platforms allow for 180 days of audience data storage, providing a perfect opportunity to retarget and remarket when costs per impression are much lower. 

CBD marketing 101

Given the added hurdles of marketing CBD products, success during the holidays will depend on a clear understanding of where you can advertise, where you can’t, and where it may not be worth it in the first place. 

Most importantly, CBD brands will run into problems advertising on Facebook and Google. While it was reported that Facebook lifted their ban on CBD ads, in practice compliance with their rules can be very difficult, with the rules themselves changing quickly. And though Google does seem to be trending in the right direction, neither platform is worth the risk at this time. 

CBD marketers can also make mistakes when it comes to targeting. While there is overlap with THC audiences, keep in mind that consumers use the two products for very different reasons. Rather than promoting CBD to the same audiences that use recreational THC, fine tune targeting to focus on fitness and health management audiences. 

Despite these pitfalls, marketers can find more fertile ground with programmatic, social, and search marketing. 

  1. Programmatic 

When it comes to CBD marketing, programmatic benefits from much easier compliance and limited regulation compared to other forms of digital advertising. With a multichannel approach, programmatic empowers marketers to find nearly anyone across platforms. Focus on leveraging multiple ad types, including display, native, programmatic audio, preroll, and connected TV, to capture the full benefits of programmatic campaigns. 

       2. Search

While CBD brands are not able to use paid search, organic search will be a cornerstone of effective digital marketing and lead-generation. Consider content marketing at each stage of the funnel, and when structuring campaigns consider three rules: Who do you want to reach? What do you want to say? And what do you want audiences to do?

When creating content, high-quality educational material is the gold standard. Focus on differentiators such as price or quality, and remember that great content itself can be a differentiator.

        3. Social

Social compliance can be incredibly challenging – however, Snapchat may be one worth pursuing. Though it’s technically complicated to market CBD on the platform, when done correctly these ads can have an impressive impact, with as much as fifteen to seventeen dollar return on ad spend. Snapchat also has a number of new tools for advertisers, such as AR/VR, brand profiles, dynamic ads, and the Snapchat audience network.

No effective marketing campaign is complete without a strategy to meaningfully track success. Keep a close eye on the actual dollars and cents being spent on advertising — and how they translate into ROAs — as well as metrics such as attribution and spend from each channel. 

Meanwhile, keep in mind that CBD customers can be much more loyal than most other CPG categories. Metrics such as predictive lifetime value, cost of new email sign-ups, and net new people are efficient means to gather and retain a loyal base. 

Holiday marketing is about working smarter, not harder. This is doubly true for CBD brands, who can tie themselves into knots solving compliance problems and never get a solid foot out the door. Use this as a guide to help simplify holiday marketing during COVID-19, and spend ad budgets with confidence. 

Scott Waldman is a Senior Account Executive at digital marketing agency Adtaxi. A native Californian, he graduated from the University of California, Los Angeles. Prior to joining Adtaxi, Scott has dedicated himself to numerous industries focused on sales & marketing pursuits for various verticals over the last 18 years including e-commerce, CBD, Consumer Electronics, Education, Health & Beauty, Automotive, Tech, Brick & Mortar retail, and numerous others. Scott enjoys travel and cooking in his spare time and believes that helping other people is the key to accomplishing your goals.


StaffJune 5, 2019
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9min364223

One of the most interesting and exciting elements to the, now emerging, legalized cannabis trade is how cannabis’ image, its past connotations and all of the potential uses that it has open to it, affects its sales and sales potential. Given that we’re talking about image, we’re really talking about marketing, and how you could creatively market something which was previously not only illegal most places, but actively frowned upon and associated with all sorts of negative concepts and behaviors. It’s a great challenge for any marketing team, so let’s go ahead and look at how to generate effective digital marketing schemes for this product.

  1. The Internet

Digital marketing normally involves it, but I can’t stress enough how important the internet is going to be in terms of the marketing and successful sales campaign for a cannabis company. The reality is that, for the expanding part of the market, meaning the people who are drawn to it now that they can attain it legally, there is still a stigma. The stigma exists with cannabis, regardless of the legislation. Its recreational uses are still tinged with its previous illegality. So, the internet becomes the most appealing way to purchase it. Just in the same way that the sex toy industry thrives online, cannabis purchases thrive most in the discreet anonymity of the online shopping cart.

  1. Using Influencers

Influencers do what it says on the tin: they influence. For people who are curious but not confident enough to push themselves into making a purchase, seeing their favorite YouTuber or Instagram Fitness Coach recommend a product containing cannabis can have an enormously relieving and comforting effect on them. The important thing is picking the right sort of influencer, ideally someone whose image doesn’t align at all with previous stereotypes about cannabis usage. The more relatable they are, the better.

  1. Free Samples

One potentially very useful tool that a cannabis company might have is the idea of free samples. “If the payoff is a new email for the mailing list, increased interest and likelihood of future purchase and maybe even some free marketing amongst the friends of the person in question, then sending a small sample for free to people can be very much worth the small cost it is to your company”, says Rachel Macpherson, digital marketer at EliteAssignmentHelp and StateOfWriting. For some people, taking the leap of actually spending money is a difficult hurdle, so seeing if they like a cannabis product can be the thing to nudge them into purchasing. Of course, check each state and make sure that giving samples is legal. 

  1. Content Marketing

Hearing what people have to say, your company included naturally, about cannabis products can be a great way to persuade people to purchase and to boost your sales. The difficulty is then the content creation itself, which can be tough for anyone. Here are some tools to help with your written content:

Studydemic and AcademAdvisor – Content writing guides, for general tips on creation.

Academized and PaperFellows – Some online editing tools, to make sure you get it right every time.

MyWritingWay and SimpleGrad – Two grammar checkers, for ensuring this tricky element is in order.

AustralianHelp – An online proofreading tool, to help you catch those little mistakes, mentioned here.

WritingPopulist and ViaWriting – Useful for generating titles, subtitles, and keywords.

BigAssignments and OxEssays – A pair of content formatting tools, an increasingly important area to get right in the digital realm.

  1. Packaged Deals

Paraphernalia, previously a dirty word used by police officers to refer to the trappings that go along with cannabis consumption is now one of the most difficult elements of marketing cannabis products. A lot of cannabis products require you to use a variety of other items to complete the consumption of it. In this instance, it’s also an opportunity for an online company to offer deals where all of the related objects come with the major product, something which is most achievable in an online store.

  1. Mobile Interface

Creating an app is a normal step for a lot of different online stores, but for cannabis companies, it’s a particularly good move. It serves not only as a convenient way for users to shop, given the enormous numbers of mobile users, but also as a hub with all the information that users, people who might be unfamiliar and intrepid at the thought of cannabis consumption, can use to reassure themselves and to find out information and connect with the rest of the userbase for advice and help.

Conclusion

As an emerging market which is guaranteed to increase the more that legalization spreads, cannabis marketing is going to become an extremely important and valuable tool. It presents a unique opportunity for some really innovative digital marketing, as well as a unique set of historical challenges to conquer.

Nora Mork is a marketing and business journalist at Boom Essays and PhD writing service. She helps businesses create effective marketing strategies, and writes blogs at Essay Roo.

 


Video StaffMay 29, 2018

1min23640

Jared Mirsky, CEO of leading cannabis marketing company Wick & Mortar says too many cannabis companies spend millions on creating their products and then drop the ball at the last mile when they don’t spend on marketing their product. With hundreds of brands entering the cannabis retail market every month, Mirsky says it’s imperative to make your brand stand out. Green Market Report caught up with Mirsky at the Cannabis Learn event in Philadelphia. Watch the full interview here and on our YouTube channel.


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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