Marketing Challenges In The Cannabis Space
Don’t miss the opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga’s Virtual Cannabis Capital Conference on February 25-26, 2021. Among the attendees is Hawke Media.
Building a following in any new industry is tough. When the industry has a century of prohibition propaganda, it can be even more challenging.
Businesses in the cannabis industry have the insurmountable task of overcoming a long list of problems that come with marketing their products. And since the industry is highly regulated, there are endless challenges to promote any cannabis brand.
What Makes Cannabis Marketing Difficult?
For starters, according to the United States Controlled Substances Act, marijuana is in the same category as heroin, LSD and MDMA. The rules for posting about cannabis on social media are limiting. Advertising giants like Facebook, Google and Instagram aren’t taking any chances, and these bottlenecks make it difficult for businesses to market their brand.
There is also competition from the black market. While law-abiding business owners are trying to follow the advertising rules that limit promotion, black market owners don’t follow any rules. They buy up ad space and market their illegal operations. Even if they get a notice from the state’s cannabis regulatory body to stop it, it’s likely to take much of an effect since they are, in fact, operating illegally.
With the stigma, complex legal lingo and the unwillingness of e-commerce companies, it makes sense that any marketing agency would want nothing to do with the industry.
But some agencies are ready to take the challenge head-on.
At the upcoming Virtual Cannabis Capital Conference, Hawke Media’s Madison Fiore will address the hurdles in cannabis marketing and offer insights into how customers can be acquired in the cannabis space. The panel will also feature C-Suite executives from Curaleaf, Holistic Industries and MATTIO Communications.
“As an agency, we think this industry has massive growth potential, but with the grey lines around legality and FDA approvals, navigating it as a marketer is incredibly difficult,” said Fiore. “It is a challenge that we welcome head-on.”
Primarily focused on the cannabis industry, Fiore has worked with more than 30 of the most prestigious brands in the space and is currently Council for Weedweek, a cannabis publication based in Los Angeles.
Hawke Media specializes in custom, data-driven, performance-focused solutions to help launch, scale and invigorate businesses of all sizes, industries and revenue models. Headquartered in Los Angeles, it is one of the nation’s fastest-growing marketing consultancies. The discussion will take place virtually at 2:05 p.m. EST on February 25. Register today!
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.