Let’s face it, there is no one right way to market your dispensary - but due to some of the unique regulations that building a business in the cannabis space presents, it’s always a good idea to stay on top of the latest trends and marketing ideas!
Marketing your brand to your target audience is always a great call - and although cannabis dispensaries are heavily restricted in terms of marketing by government regulations, many have found creative ways to connect with their customers while remaining compliant.
Things to keep in mind while you market your dispensary.
Marketing can do a lot for a cannabis dispensary. With good marketing, a cannabis dispensary can grow its brand presence and position itself as an industry leader and an integral part of the culture. Brands with good marketing also have a higher chance of retaining their customers, increasing their revenue, and even attracting investors.
However, cannabis dispensaries face many challenges when trying to market their products. Some of the biggest challenges include:
- Social media ad restrictions
- Limited demographic to target
- Limited ad budgets
- Building brand awareness and trust
- Navigating compliance regulations
To resolve some of these challenges and grow your customer base, we have prepared six effective marketing strategies you could deploy at your dispensary. These strategies will help your business attract new consumers and increase its revenue and market positioning.
1 - Build a powerful brand.
The first step to a good marketing campaign is to brand your identity. This includes your logo, packaging, customer service, and tone when you write and talk about yourself. A good brand helps consumers distinguish you from the competition and gives them positive preconceptions about your dispensary. For example, it could make a customer think your dispensary is cool or fun before they visit.
2 - Get media coverage at your dispensary.
The idea of legal cannabis is still new to many people, and that means there will be lots of questions from curious customers that need to be answered. Getting media coverage of your dispensary, answering questions, dispelling myths, and sharing the benefits of cannabis can help you reach new audiences and give the brand legitimacy.
3 - Stay up to date on regulations.
Cannabis businesses have strict rules to follow when marketing their products. While the specifics of the regulations vary from state to state, they are essentially the same on social media. Direct advertising of cannabis products is prohibited by the major social media platforms. You should stay abreast of all marketing regulations to avoid facing penalties.
4 - Leverage social media.
While many social media platforms prohibit selling and marketing cannabis directly, there are other ways you can leverage social media to grow your brand, specifically your brand identity. For example, you can use social media to curate a fun or relaxed atmosphere that could market your brand as a lifestyle choice and not just a consumer product. That is what tobacco and alcohol companies have been doing for decades. Read this article for more information on leveraging the major social media platforms (Facebook, Twitter, LinkedIn, and Instagram) to grow your brand.
5 - Try paid ads.
You can also use paid ads or PPC (pay per click) to boost engagement, lead generation, and sales. In addition, paid ads can help your brand generate inorganic traffic during its early stage before it has any brand recognition.
6 - Use content marketing.
One of the best ways to generate qualified leads and convert them into sales is with content marketing. Content marketing can demonstrate your thought leadership and increase consumer confidence in and loyalty to your brand. Furthermore, with online content like blogs, podcasts, videos, you can use Search Engine Optimization tools (SEO) to be seen more prominently by your target audience.
7 - Kick start growth with a grand opening.
One of the main ways many dispensaries kick start their growth ambitions is with a flashy grand opening that attracts a lot of buzz for the brand and gets it noticed by new customers. While most customers will be there for the deals and offers on different products, your goal is to make sure they stay even after buying their bud and that they have a memorable experience they can associate with your brand.
8 - Consider expansion.
Once you have built a good strong brand with a diverse market appeal and high consumer confidence, then it is easy for you to expand by franchising your brand to other entrepreneurs that don't want to spend money and time building a new brand of their own. Franchising can help you expand your reach and grow your revenues without taking on any additional responsibilities like applying for new licenses or hiring new staff.
However, you should make sure you remain compliant when you expand into new territories. Most laws are different in each state, so it would be easy to be found in violation as you grow into new regions—so, take extra precautions.
In Conclusion.
Marketing is a huge part of running a business, be it retail, service or product. The cannabis space is no different. But marketing doesn’t have to be hard or tedious; especially when it comes to running a business in such an exciting space on the forefront of social change.
When it comes to marketing, we must quote Pablo Picasso when he said “Learn the rules like a pro, so you can break them like an artist”. Because what really matters in this space is evolution and growth. We can’t wait to see what marketing ideas you come up with next!
