The marijuana market has tremendous potential and can serve as a source of wealth creation. Analysts at The Grandview Research expect the global marijuana market to exceed 66.3 billion dollars in 2025. Since the legalization of Cannabis for recreational and medicinal purposes, the cannabis business has changed its marketing strategies. In fact, in 2018, the marijuana market in the United States alone surpassed 11.3 billion dollars. The United States marijuana market is expected to grow at about 24.1% between 2019 and 2021.
Despite the legalization of marijuana in several places, it is difficult for marijuana marketers to increase their sales and drive their ROI. Several state laws have strict sanctions towards marijuana advertisements, limiting the business a great deal. This article discusses how to increase the sales of marijuana and grow profit through new and innovative marketing strategies. Here are a few steps to achieve this:
Network and collaborate with Native networks
Although Google and Facebook are the leading websites for social media advertisement; however, you can still reach your target audience for the sales of marijuana without them. Several paid advertising platforms have data-driven the sales of marijuana and helped them reach their target audience.
These advertising platforms are cannabis-friendly and have attached themselves to several lifestyles driving the use of cannabis ads. These ads are displayed on over 420 lifestyle websites, giving you a wider reach than you have ever imagined. Platforms such as Mantis Ads, Traffic roots, and ALT ADNS are great for driving the sales of marijuana.
Create an Online Store
A statistic from the American Preventive Medicine states that the online search for Cannabis increased by 98% between 2005 to 2017. The online space is an excellent place for you to sell your Cannabis as there are always customers online. The sales of Cannabis have grown so much that Shopify allows licensed cannabis sellers to sell online and in-store, underlining its importance. However, it is going to be slightly tricky in the United States. Yet, it is achievable if you have the proper license and certifications. That said, you can simply find and order weed seeds at comfort of your home with an ease. Try to look out for the particular store you’re buying from.
Utilize Keywords and SEO optimization
Internet processes and searches thrive on the concept of keywords and SEO optimization. Customers who search online for products can find what they want through words. Therefore, you must use words that will boost your search result and enhance your sales. You could start by optimizing your web pages, web content, and blog posts to drive traffic. Long-key words dominate about 70% of all internet searches. Therefore, you could significantly increase the sales of your marijuana products through the use of keywords.
Partner with Influencers
Influencers have such a stronghold in marketing and are capable of growing your business in no time. The marijuana market is no exception! However, it is essential to find a suitable influencer to propel your marijuana marketing campaigns. The influencers’ goals must align with yours and reach a large audience. You could also sell your marijuana product through affiliate marketing to guarantee optimum profit.
Concentrate on the local market
A local market is a place that can give your products the proper awareness at little or no cost. However, the online market has played an essential part in the sale of Cannabis in recent times. Yet, the importance of the local market cannot be overemphasized. You could use a cheaper local advertiser or mainstream media that accommodate the marketing of marijuana. You should also ensure that you are visible on Google if you are in a marijuana legalized State.
If you want to establish your presence in the local market, radio advertisement is a great place to start. With the legalization of Cannabis in certain states, several radio stations are advertising marijuana. As a result, you can choose a radio station demography that has the audience that suits you. This way, you will be able to run targeted ads for a specific audience to drive the sales of your marijuana products.
Concentrate on event marketing
It is a difficult task to market anything. Event marketing gives an excellent opportunity for prospective customers to interact with your product. At events, marketers are almost guaranteed sales. Events offer you are an opportunity to interact with different weed sellers, vendors, weed brands, and sellers to grow your products. While marketing during an event, it’s essential to develop relationships, interact with weed enthusiasts and connect with them through their social media account. To effectively harness the benefits of events marketing, you must not limit yourself to the booths at events. If the federal communication commission and state laws prohibit you from advertising marijuana on local radio, you could use satellite radio ads. Satellite radio ads are free from the federal communication commission and state laws and cheaper than regular radio advertisements.
Admittedly, trying to market marijuana amidst all the misconceptions surrounding it can be challenging. Luckily, the above are six ways to do that with ease and start getting leads and conversions from your target audience quickly.