How Digital Marketing is Working in the Cannabis Industry – Marijuana Stocks
The cannabis industry has quickly become one of the fastest growing markets throughout the U.S. with many new startups driving the high demand and large supply throughout the market. One of the largest opportunities and subsequent challenges has been advertising, SEO and pay-per-click (PPC) advertising and marketing. As these areas are able to improve, companies will have an easier time getting the word out about their products.
The market on cannabis is still incredibly new which means that many of the more traditional outlets for advertising have not been set up to deal with this new and semi-legal industry. With the largest advertisers such as Facebook, not allowing cannabis advertisements at this point in time, the marketing world of cannabis is still very new as well.
The company known as Cura Cannabis Solutions is one of the primary places to start in the cannabis advertising industry as they are working to spread the word about their company. Cura currently has two product lines, Select Oil and Select CBD, both of which are very highly regarded by consumers. The team at Cura has repeatedly tried to advertise in the more traditional outlets such as Facebook, but has also been rejected every time by the company. In a market that has so much potential, why have advertisers rejected the massive amount of potential they have to get a piece of the industry?
One of the executives at the company recently stated that they have been working with influencers in the industry rather than these traditional news outlets to help on the marketing front, but this is also extremely regulated and the reach that they will attain is not as great as with other outlets.
The news is quite good especially in places like California where more traditional marketing opportunities such as out-of-home and print media buyers are beginning to take over. Many companies who have started up recently in the industry have stated that they have not taken the route of hiring media planners, buyers and advertising agencies although this if often the quickest way to grow a business. These companies have instead gone with the route of hiring SEO strategists, content marketers, email specialists and public relations managers. Often times, the companies have decided to take the advertising to their own hands by advertising across their websites and on the products themselves.
Partnerships with other companies in the industry is also being used as a strategy to help gain notoriety in an industry that has quickly become saturated with products that hold a large amount of potential. With the traditional route of pouring large amounts of funding into advertising, many companies have decided to take the digital road, by nailing their SEO, content and influencer marketing options. Using these types of marketing is something that is extremely new and not as heavily regulated as some of the other outlets for media.
Many of the agencies in the space have popped up recently as a response to the growing industry and they have seen a large amount of subsequent success. The large amount of growth that is occurring in the cannabis industry means that these companies are beginning to surface with the new opportunities. As legalization occurs on a national level, it seems like it is only a matter of time before the world of cannabis marketing will grow to quite large market. Only time will tell how well this legislation affects this part of the market, but things continue to look up. The world of marketing seems like it is standing on its heels, waiting for the right opportunity to get into the market.