Are you thinking of starting a cannabis business? If so, you’ll want to make sure you follow these tips for a successful launch. Having a well-planned and executed strategy is key to success in this industry, so make sure you put in the work upfront.
Starting a cannabis business can be a daunting task. There are many things to consider, from regulatory compliance to marketing your products. However, with the right tips and advice, you can set yourself up for success. These tips will help you get started on the right foot. Good luck!
Focus on Branding
One of the most important things that you should do as a cannabis business is to focus on branding, and get the branding correct. Businesses today are vastly different from businesses in the past; one of the main differences is that businesses these days aren’t just selling a product or service, they are selling a lifestyle.
To further illustrate this point, take a look at Nike for example. They went from a business that just sold sports shoes to a lifestyle brand that has a slice of different pies, and the transition was effortless. No one stops to wonder why they are wearing a Nike watch band instead of an Apple watch brand, even though initially, that was never Nike’s area of expertise.
Choose a Product or Service
The next thing that you are going to have to do is figure out what product or service you are going to be selling. This is incredibly important and can make or break your business in the beginning stages. When it comes to a product, you have to decide whether you will focus on one item or many. For example, Grasscity offers a large variety of bongs as well as many different products and is very successful.
If you are planning on selling locally, this might complicate the matter since you will have to take local supply and demand into consideration. A good question to ask is, “what are the needs of customers in the area, and which need isn’t being met?” Another consideration to make is whether your product or service is something that will be bought repeatedly, like pre-filled THC pods, or if it’s a one-time thing, such as repairing dry herb vaporizers.
Find a Platform
In terms of marketing and reach, the most important thing that you will need to consider is which platform you will be using, and if you are using many of them, how will the branding be consistent across all of them. This naturally means that you will need to identify your audience, which can be a lot more difficult than it sounds.
Once you have identified your audience, you will need to find out if your audience is indeed on the platform you are thinking of using. The good news is that you can easily find the demographics that use the various platforms. For example, the largest advertising group on Instagram are those between the ages of 25-34 and are split evenly between males and females. You can even do keyword research for different platforms to determine what content is being searched for.
Optimize User Experience
One of the best things that you can do to be successful as a cannabis business is to ensure that your user experience is optimized. The great thing about doing business in today’s day and age is that you can be there during the entire journey of your customer. What exactly does user experience entail? This entails everything from the moment that the customer sees your product to the checkout.
What can be optimized? For one, your SEO can be improved so that when a customer searches for a product that you are selling, your business pops up. More than this, you can also ensure that when they search for information about a product, your site is the one to give it. Your website should also be clean and easy to navigate. Your products should be correctly categorized with the correct information, and finally, once the customer has bought something, you should be available should they have any queries, and email marketing is of the utmost importance at this stage.