The Cannabis Industry
Production and distribution of cannabis is the fastest growing industry in the United States. This is a broad industry that encompasses four areas: recreational marijuana, medical marijuana, CBD Oil, and Hemp. Each category is unique and brings in a distinct group of people for specific purposes.
- Recreational marijuana is just as the name implies. Its focus is on using cannabis for recreational purposes, which generally includes experiencing the mind-altering effects marijuana is known for.
- Medical marijuana focuses on using cannabis as an alternative treatment for a variety of medical conditions or symptoms. The use of marijuana for medical reasons is legal in 33 states.
- CBD oil is a supplement that doesn’t alter the mind. It is used to treat a variety of medical conditions and is legal under federal law.
- Hemp is an agricultural crop allowed in more than 40 states. This product has over 25,000 applications for manufacturers. It is included in the Farm Bill.
The highest rate of growth in the cannabis industry is expected to be with CBD oil. However, all four areas are expected to continue growing over the next several years.
The Legality of Cannabis
For those not directly involved in the industry, it’s a common misconception that cannabis is illegal. While the Federal government still considers cannabis illegal as a Schedule I drug, the states are creating their own laws governing its legality and use. Schedule I drugs are those considered to have a high potential for abuse and to not have any recognized medical use.
The majority of states have legalized the use of marijuana for medical purposes with 11 states also legalizing recreational use. CBD oil is legal throughout the US and under federal law. Hemp has also recently been legalized for commercial production.
Cannabis is expanding in the areas where it has been legalized because of easier access and use of the product. Users can turn to vaporizers or buy edibles to access cannabis. Those who are concerned with the mind-altering effects of the product are often more comfortable with the idea of using CBD oil because of its benefits without the fear of “getting high.” Delivery services have expanded, which makes it easier for those who are using medical marijuana to gain access.
Marketing for the Cannabis Industry
Marketing the cannabis industry to potential new customers is a complex task. A lot of misinformation exists along with myths that must be dispelled through accurate data and reports. Marketers must also understand their limitations in marketing cannabis. They aren’t allowed to create ads for cannabis on TV, Google Ads, Facebook, or most radio stations.
Cannabis encompasses a wide range of people, but not all of them will visit a website. Targeted marketing is critical to converting potential customers into current customers. Volume Advertising Service uses technology to accomplish that goal specifically for the cannabis industry. For instance, Volume Advertising has created a patented pixel technology that gathers data in more than 300 fields of information on website traffic. This lets you know who is visiting your site, so you can target them correctly with specific advertising strategies that get results.
E-mail done correctly still works. However, many e-mail marketers use outdated methods that land those e-mails unread in the trash. With the use of the latest marketing methods, Volume has a higher than average open rate of 12-18 percent.
Social influence is another powerful marketing strategy relevant to the cannabis industry. Companies can gain followers on Facebook, Twitter, YouTube, Instagram, and other networks to gain an immediate impact.
We’ll follow customers from multiple competitive locations in your area directly into your dispensary, creating immediate opportunities for your location(s) and potential new customers con-quested from the competition.
Create virtual fences around all locations associated with the cannabis & CBD industry while protecting your location(s) for any competitor attempting to steal your customers.
An Authority in the Industry
Not all marketing companies can be successful with cannabis companies and organizations. It takes someone knowledgeable in the industry to create marketing strategies that work.
On November 21, 2019, Volume Advertising was invited to speak at a Marijuana Industry Trade Association (MITA) event in downtown Phoenix, Arizona. Browning Holcombe, the Founder, and CEO of Volume Advertising, presented innovative retail marketing tactics for cannabis dispensaries and other CBD organizations to help them increase their in-store traffic and website traffic.
Because of the insight Volume Advertising has into the cannabis industry and the unique and advanced marketing strategies and technologies being used, the company has seen solid results with their cannabis clients. “Volume Advertising continues to see growth each month with the number of cannabis clients being added across Arizona and California,” says Browning Holcombe. This growth is happening because clients recognize that Volume Advertising understands the cannabis industry and the audience being targeted.