The cannabis industry has seen rapid growth in recent years as more states move to legalization. As more dispensaries, growers, and manufacturers enter the space, its more important than ever to differentiate your cannabis business from the competition. The key to differentiating your cannabis business is marketing and advertising.
Some services, like display advertising or SEO (search engine optimization), are possible to do on your own but take a long time to maintain. Hiring a cannabis advertising agency to do your marketing for you frees up valuable time you can spend on other aspects of your business. Hiring a cannabis advertising agency to handle your online marketing leads to better ROI than if you were to do it on your own, and also has a range of additional benefits.
Compliance With Advertising Regulations
One thing you may not be familiar with as a business owner are the regulations surrounding cannabis advertising. Legality of your cannabis or CBD products is one thing, but there are entirely different rules and regulations on a state and local level. Account manager and other staff working for cannabis advertising agencies are familiar with the rules and regulations and keep up to date to ensure your advertising efforts are compliant with all regulations.
A time consuming but essential part of advertising is market research. If you’re managing a business, you won’t have time to properly segment out your audiences to optimize your marketing strategy. This means your display ads and SEO efforts won’t be as effective as they could be. A cannabis advertising agency can shorten the research time needed since they specialize in understanding the data, consumer trends, and the advertising platforms that are open to cannabis advertising.
Analytics and Reporting
Different agencies have their own custom reporting and trackable metrics to show you the value of your advertising spend. It is possible to set up a dashboard of your own, but it takes time and resources that could be better spent elsewhere. This data and reporting can give you additional insights into your buyers and help you determine where to spend your advertising budget to further maximize profits and enhance your market position.
Specialized cannabis advertising agencies will make a positive impact on your brand and business. Look for companies that offer customized services that are designed based on your products and branding.