In my opinion, the legalization of cannabis is very active in many US states, and the once shady image associated with the drug is changing in many people's eyes. In most medical states it can be ordered online, via courier, infused in drinks, mixed with pet food and also being distributed in a "farm to table" style using bespoke packaging and nice crystal jars - the days of the street dealer selling dime bags is over. In over half of the states, medical marijuana is legal, quickly becoming the nation's fastest growing industry estimated to be worth over 2.5 billion, with over 70% growth from the following year. New ganjapreneurs are creating businesses every day, but what is the best way to start/build a cannabis-based brand?
How to build a cannabis brand?
1. Know local/state laws: Understanding and following local and state laws will prevent future failure. Making any claims of medical benefits or the safeness of your product may arise in legal issues and are not recommended. 2. Quality Products: Quality is everything. In this industry, if your end product shines over the rest, expect success. Simple. 3. Proper branding: A high-quality relevant logo will make you stand out from the competition, and easy to recognize amongst a lot of new brands on the shelves. A well thought out brand always evokes emotion via imagery to its audience with a very calculated delivery. 4. Know your demographic audience: Who is your audience? Define your preferred age segment and cater to what they like, and or what they may be looking for and always remember to add a personal touch or express the availability of superior customer service available via your brand. 5. Be original/unique: Many of the new brands coming into the industry are fighting for position in saturated markets. It is important to create original products and content to which you can positively market such products. A strong and innovative brand strategy will ensure you will be noticed from the crowd. 6. Marketing & Packaging: A segmented marketing plan and distinct packaging will go a long way when trying to stand out from the other brands in the same market. In most cases, it will cost more and affect your margins, but if done correctly, the increase in volume should make up for any preliminary shortcomings via added up-front costs. 7. Hire the right team: A specialist creative agency may be the way to go if you are a startup, needing to streamline your brand's image and develop creative elements. For bigger companies, you can also hire individuals who can procure the work needed to be done, but it is imperative to hire the right team…from the water-boy, grower, accountant to the online team…each member of staff is important and needs to be the right fit for the job, and the team. In the ever-changing cannabis industry, it is critical to stay ahead of the curve by investing in the core of your business: your own brand! Ras ras@humboldtseeds.net