Within recent years, the cannabis industry has become somewhat of a controversial topic in the business sphere. The economic impact of the sale of cannabis is tremendous and advertisers are taking note. Many of the early adopters are in a race to establish themselves as top brands. These companies are working to market themselves in order to propel them into national businesses. In order to take charge of their marketing opportunities, cannabis companies seem to be rushing to start and are then falling flat when deciding the right type of digital strategies to implement. Cannabis brands do have some obstacles and regulations while marketing their products and services. These cannabis companies need to find their competitive advantage to differentiate themselves from others in this ever-changing industry.
It is imperative to uncover your ideal consumer when developing a digital strategy. Lisa Buffo, the founder of the Cannabis Marketing Association, explains the type of audience or consumer that cannabis companies are looking for: “Women and baby boomers are the two fastest-growing customer segments. As the industry matures and the stigma drops, brands are starting to niche out their target marketing much more. There are more consumer groups available now than ever.”
Here at Digital-Ignite, we are able to target and tap into these types of niche audiences and serve those users with highly targeted ads with specific creative messaging to deliver the main goal of our future cannabis partners. She also explains that “the early days of the industry focused on marketing to the younger male consumers who had readily embraced legal cannabis. Data shows that the average cannabis consumer now is around 42 years old, slightly more likely to be male than female, and more likely to have a higher income than that of the
general population. As a legal market matures, the average cannabis consumer gets older, wealthier and more sophisticated, and the total pool of consumers diversify. The industry has had to expand it’s messaging and language to appeal to a newer, more sophisticated consumer.” With an ever-changing market like the cannabis industry, data plays a significant role in identifying that target audience. Using our digital tactics, we can target them (the more sophisticated consumer) based on first and third-party data.
The top four digital tactics we would recommend to a growing cannabis business starts with our ALIGN Technology. With our proprietary technology ALIGN, we can identify the type of possible consumer that visits your website. By harnessing the power of the data collected, using our digital tactics, we can then advertise to a LAL Model (Look-Alike Model) serving the optimal
creative messaging to the right person at the right time.
Another great tactic would be Programmatic Outreach. Digital-Ignite’s people-based approach to marketing offers a powerful way to personalize a customer’s experience and measure campaign ROI. We deliver your message via programmatic advertising to the right customer across all their devices and on all channels– display, native, pre-roll video, social, connected TV, and streaming audio.
In addition to outreach, we would suggest the tactic retargeting as well. Through retargeting, we will deliver segmented, direct messaging to individuals who have previously visited your website. We can send different creative concepts/messages depending on the pages they visited and the actions they took. This lets us personalize the user experience as an individual moves down your funnel, and is a highly effective strategy.
With IP targeting, all of these datasets can be easily and effectively used to deliver ads directly to consumers.
If the Cannabis industry continues to move as fast as it has in recent years, we will see more digital capabilities being utilized. “Marketing in the cannabis space is currently a difficult mix of juggling a volatile sales atmosphere and layered regulations specific to markets.” -Buffo
Digital-Ignite is at the forefront for all emerging digital marketing tactics and will be for years to come.