We made it by way of 2020! Whether you’re a hashish license holder otherwise you function an ancillary hashish enterprise, January marks the time to deal with enhancements, and after the yr we simply went by way of, enterprise resolutions are a should for 2021 – significantly branding and advertising and marketing resolutions.
Why? Because 2020 taught us loads!
In comparability to many different industries, hashish companies fared effectively throughout a world pandemic and financial and political instability throughout 2020. According to information analyzed by Leafly, gross sales of leisure and medical marijuana jumped by 67% in 2020 from $10.7 billion in 2019 to greater than $17.9 billion in 2020.
In truth, shoppers’ common month-to-month hashish spends elevated by 25% to 40% in 2020, and 9 states greater than doubled hashish gross sales in 2020 over 2019: Arkansas, Connecticut, Florida, Illinois, Maine, New Jersey, North Dakota, Ohio, and Pennsylvania.
With a brand new yr in thoughts, an finish to the COVID-19 pandemic presumably in sight, and invaluable classes discovered throughout 2020, following are 5 of an important hashish enterprise resolutions for 2021 that each license holders and ancillary companies ought to prioritize of their branding and advertising and marketing plans.
1. Make Content Your Digital Marketing Priority
Content is the inspiration of your model’s on-line footprint, and it has the facility to drive long-term, sustainable, natural progress to your small business – not simply when it comes to web site visitors and leads but additionally in conversions and gross sales.
It’s been confirmed repeatedly – firms that publish helpful, significant, related content material on their web sites and share that content material with the correct audiences by way of social media, e-mail advertising and marketing, and so forth not solely get extra natural search engine visitors but additionally convert extra web site guests into shopping for clients (each on-line and offline).
The purpose is straightforward – publishing and sharing helpful, non-promotional content material builds model belief. It’s a long-term technique that needs to be the spine of each hashish firm’s advertising and marketing investments in 2021.
2. Focus on Knowledge Translation for Brand Building and Industry Normalization
Knowledge translation is a time period launched by the Canadian Institutes of Health Research (CIHR) in 2000. In easiest phrases, it’s a means of getting advanced data discovered by way of analysis into the palms of people that will use it in sensible purposes and on a regular basis life to make necessary selections. It goes past merely educating individuals to making sure the data is definitely useable, iterative, and impactful in the actual world.
For the hashish trade, information translation is crucial to make sure medical sufferers and retail shoppers perceive what they’re shopping for and the merchandise they’re utilizing, however it goes past the patron transaction. Knowledge translation must occur throughout the availability chain – from seed to sale – and it must occur between companies in addition to from hashish companies to federal, state, and native regulators.
As the United States strikes nearer to federal decriminalization of hashish in 2021 and extra states legalize adult-use hashish, information translation might be important to making sure the normalization of hashish and the continued progress – significantly the accountable progress – of the trade.
3. Crisis-Proof Your Business’ Online Presence
Whether your small business primarily operates on-line or in-person, 2020 taught us that each enterprise should prioritize establishing a robust and versatile on-line presence. Never earlier than have so many firms pivoted their enterprise fashions from brick-and-mortar to digital-first as have been pressured to take action when COVID-19 introduced financial shutdowns throughout the nation.
Virtual ordering, curbside pickup, and extra grew to become the brand new norm amid the coronavirus disaster. Even companies that would preserve their doorways open have been required to scale back staffing and/or shift to distant work. In brief, no enterprise was resistant to the results of COVID-19, and the world is unlikely to return to the best way it was pre-pandemic within the close to future.
The lesson discovered is straightforward. Your enterprise should crisis-proof its on-line presence similar to it does its offline presence so you possibly can proceed to function it doesn’t matter what surprises pop up in 2021 and past. Flexible companies that may pivot shortly will win.
4. Get to Know Your Customers Better
How effectively have you learnt your clients? Do you may have documented purchaser personas created for every of your goal audiences? Do you already know what issues to every target market? Both business-to-consumer and business-to-business firms must get to know their clients higher in 2021.
The days of sending generic e-mail messages or advertisements to 1000’s, tens of 1000’s, or extra individuals are over. Not solely will bulk emailing with no customization for goal audiences yield abysmal outcomes, however it is going to additionally trigger e-mail service suppliers to affiliate your messages with spam. That means fewer (if any) of your messages will make it to individuals’s inboxes, so all your efforts and investments might be wasted.
Today, buyer expertise (CX) is the new matter. Customers don’t simply need you to ship related, customized messages and advertisements to them. They anticipate it, and for those who don’t meet their expectations (i.e., you ship irrelevant content material, messages, and advertisements to them), they’ll take their enterprise elsewhere.
In 2021, you will need to make investments money and time into attending to know your clients higher. Use market analysis, buyer suggestions, and social listening, and create purchaser personas so that you successfully talk with every of your goal audiences.
5. Be a Business Purpose and Responsibility Leader
Are you an trade chief or follower? There is a major alternative within the hashish trade for manufacturers to ascertain key management positions, and a kind of positions is to be a pacesetter in enterprise objective and accountability. These firms prioritize social, financial, environmental, and enterprise accountability in all the things they do – from their values to their actions.
In August 2020, hemp CBD firm Charlotte’s Web grew to become a enterprise objective and accountability chief in its area of interest when it earned B Corporation certification, which is a designation for firms that use the facility of their companies to construct a extra inclusive and sustainable financial system whereas contemplating the impacts of their selections on all stakeholders, together with employees, clients, communities, and environments.
The key to resolving to be a enterprise objective and accountability chief within the hashish trade and use it as a robust model positioning differentiator is to grasp that it’s a dedication. You must stroll the stroll, not simply discuss the discuss on the subject of proudly owning this aggressive benefit.
Ready to Make Your Cannabis Business Resolutions for 2021?
2020 is formally behind us, however that doesn’t imply we must always ignore the teachings the previous 12 months taught us. Make branding and advertising and marketing resolutions right now that target content material advertising and marketing, information translation, model constructing, crisis-proofing, attending to know your clients, and being a pacesetter in enterprise objective and accountability all through 2021, and your small business ought to finish the yr in a significantly better place.
Susan Gunelius, Director of Email Marketing Strategy for Cannabiz Media, can also be President & CEO of KeySplash Creative, Inc., a advertising and marketing communications firm providing, copywriting, content material advertising and marketing, e-mail advertising and marketing, social media advertising and marketing, and strategic branding companies. She spent the primary half of her practically 30-year profession directing advertising and marketing packages for AT&T and HSBC. Today, her shoppers embody family manufacturers like Citigroup, Cox Communications, Intuit, and extra in addition to small companies world wide. She has been working with shoppers within the hashish trade since 2015. Susan has written 11 marketing-related books, together with the extremely well-liked Ultimate Guide to Email Marketing for Business, Content Marketing for Dummies, 30-Minute Social Media Marketing, Kick-ass Copywriting in 10 Easy Steps, and he or she is a well-liked advertising and marketing and branding keynote speaker. She can also be a Certified Career Coach and Founder and Editor in Chief of Women on Business, an award-winning weblog for enterprise ladies. Susan holds a B.S. in advertising and marketing and an M.B.A in administration and technique.