Business owners employ different tactics to attract and retain customers. From offering free coupons to placing huge adverts on billboard among other platforms, business people go to great lengths to market their products. However, some industries come with restrictions that may have an effect on how businesses sell and reach their audiences. The Cannabis industry is a good example. Given Cannabis federal status, there are many rules and regulations to be followed in regards to marketing. In some states, advertising on different platforms is not permitted. In others, a Cannabis business owner is not allowed to give free coupons as a way of attracting new customers.
So, how do you market and stay competitive if you deal with Cannabis products, such as CBD oil, sativa strains or budget buds? How do you let your clients know about the numerous benefits of these products? Below we outline 5 tried and tested tips that you can use to reach your audience and let prospective customers know about all the products that you have to offer.
Table of Contents
Understand the law
If you are in the Cannabis business, you have no choice but to understand the law in regards to this highly regulated industry. It is good to have a legal expert who can demystify the intricacies of the law but it pays to have a firsthand understanding of the rules and regulations as far as advertising is concerned.
As a start, read all the rules on advertising within the state you operate. If you are looking to expand your business in other states, also ensure that you know all the regulations on advertising in the state you want to advertise. Staying informed will not only ensure that you stay on the right side of the law, but it will also protect your business against hefty fines that may cripple it.
Keep abreast with any industry changes
Knowing the current rules and regulations is not enough, you have to go a step further and stay informed. The truth is that in any highly regulated market, things keep on changing. Therefore, you need to keep up on the latest developments and news.
A good and easy way to stay updated is by subscribing to a regulatory agency that gives regular updates related to your industry. Subscribe to reliable platforms such as the New York Times or Reuters. These platforms have features on regulations and healthcare news that cover most if not all regulated industries.
Thanks to technology, getting reliable news today is relatively easy. A simple search on the internet will provide you with all the answers you seek. All you have to do is ensure that the information is credible and research more on the impacts that new developments may have on your business.
Dedicate enough time for Campaign Reviews
Coming up with a successful campaign is not easy. You have to find a message that your prospective customers identify with and package your products with the end user in mind. That said you also need to dedicate more time and efforts into Campaign review.
Aside from allowing enough review time, you also have to get the right people to review your campaigns. In an ideal world, you may only need to tell your customers to post selfies while enjoying your cannabis products. However, the situation on the ground may not allow this. You have to consider the rules on platforms such as Facebook or the federal rules.
Get adequate information on all the agencies that may have a stake in your business practices and understand all the requirements. You also need a solid legal team that goes through all your campaigns and ensure that you do not break the law while you work hard to expand your business.
Understand the regulations in different parts of the world
There are different regulations affecting highly regulated industries in different parts of the world. Consider the anti-spam legislation in Canada. Being on the toughest legislation of this nature in the world, you may need to reconsider your marketing efforts if you market your products in Canada. The same applies if you want to advertise in countries such as Norway or Sweden where you have to ensure that you do not advertise to children.
In the current global economy, most businesses have expanded their operations to different countries. If you want to stay ahead of the competition and make any substantial profits in this industry, you have to consider selling your products beyond your location. However, you need to understand the regulations in the areas you want to sell as failing to do say may frustrate your marketing efforts and also cost your business.
Personalize your marketing efforts
Any marketing guru will tell you that your efforts will only bear fruits when your marketing is personal. Facing strict regulations does not mean that your marketing has to be boring and impersonal, far from it. There are different tactics that you can use to reach more people without breaking the rules or invading their privacy.
Marketing automation is one of the tricks you can employ. Get regulatory compliant templates that you can use to market on social media, landing pages, and email among other platforms. With a good marketing team, all this can be done with relative ease. There are also free toolkits for creating templates that are perfect for beginners or those on a tight budget.
Your grasp of the law in regards to this industry can help a great deal when it comes to personalizing your marketing efforts. Your creativity will also make you stand out from the rest. Get inspiration from your competition and make your marketing efforts as personal as possible. Check what some industry leaders like this best online dispensary Canada are doing to reach clients and sell them exactly what they want.
Conclusion
These 5 tips for cannabis marketing in a highly regulated market can propel your business to great heights and keep you ahead of your competition. Incorporating all of them in your marketing efforts is not easy but you can be guaranteed that at the end of the day, your efforts will be well worth it. On the bright side, the Cannabis market is booming. As more people understand the numerous benefits that come with cannabis and different cannabis products, selling and making good money in this business will become easier.