The Future of Cannabis Marketing: Top Trends to Watch in 2023
In this blog post, we will explore the top trends in cannabis marketing in 2023 as presented by Doc, one of the co-founders of the Hood Collective, a prominent cannabis marketing firm based in Portland, Oregon. These trends will include video marketing, LinkedIn marketing, the role of artificial intelligence in cannabis marketing, hyper-targeted marketing, and executive marketing. As the cannabis industry continues to evolve and expand, it is crucial for businesses to stay ahead of the curve and be aware of the latest marketing strategies that can help them succeed.
The following sections will delve into each trend in detail, providing valuable insights and examples of how these strategies are being used effectively in the cannabis industry. By understanding these trends and implementing them in your marketing efforts, you can increase brand awareness, attract potential customers, and ultimately, grow your business.
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Video Marketing For The Cannabis Industry In 2023
The first trend, which is a continuation from previous years, is the increasing importance of video in cannabis marketing. In 2023, if businesses are not utilizing video marketing, they may be missing out on a significant opportunity to grow their brand. Video can enhance and extend the reach of marketing efforts across various platforms, particularly on social media. Platforms like Instagram have been revolutionized by video, thanks in large part to the influence of TikTok. To stay competitive, companies should focus on producing consistent video content, even if it means creating videos in-house using smartphones.
Video marketing extends beyond social media and can be implemented in various forms, such as webinars, YouTube channels, and live streaming on platforms like Instagram. For businesses in the cannabis industry, particularly B2B companies, dispensaries, growers, and producers, educational video content can be invaluable for engaging and informing customers, buyers, and the general public.
Hosting webinars on relevant topics and encouraging sign-ups can help companies capture valuable leads while providing their audience with useful information. By offering valuable content and staying top-of-mind, businesses can increase their chances of being the preferred choice when customers make purchasing decisions.
LinkedIn Marketing For Cannabis Companies In 2023
The second trend for cannabis marketing in 2023 is the increasing relevance of LinkedIn. While LinkedIn may not be considered the most exciting platform, its impact on marketing efforts in the cannabis industry should not be underestimated. LinkedIn has fully embraced the cannabis industry, with their CEO expressing support for legal cannabis businesses. As a result, the platform allows for paid advertising in this sector.
Paid ads on LinkedIn can be a powerful and cost-effective marketing tool, enabling businesses to target specific audiences directly. LinkedIn offers a range of options for paid promotions, making it an ideal platform for B2B marketing in the cannabis industry. Whether you are a grower, dispensary, or any other cannabis-related business, LinkedIn can help you connect with the right people and expand your network.
For instance, growers can target dispensaries as their primary clients, while dispensaries can engage with growers and other necessary service providers. Even though LinkedIn may not be the most glamorous platform, its effectiveness in the cannabis industry cannot be overlooked. Companies should consider leveraging LinkedIn's capabilities to enhance their marketing efforts and reach a wider audience.
Artificial Intelligence Is Revolutionizing Cannabis Marketing In 2023
The third trend for cannabis marketing in 2023 is the integration of artificial intelligence (AI). AI is revolutionizing marketing strategies, making them more efficient, cost-effective, and accessible. For the past six months, many companies have been using AI tools to save time and reduce costs while providing high-quality services.
AI is already being utilized in several ways, such as generating content for SEO purposes, designing logos, and creating graphics. Although some AI tools may still appear clunky, their potential is enormous, and improvements are happening rapidly. AI art generators, like Dall-E and others, are gaining popularity and producing impressive artwork specifically tailored for the cannabis industry.
However, it's essential to note that AI tools alone may not be enough to meet all marketing needs. For instance, AI-generated content may still require human input for introductions or company-specific information, and AI-designed graphics may need a designer's touch to add text or call-to-action elements.
Working with a marketing agency that has expertise in AI tools, as well as design, writing, and marketing backgrounds, can help businesses maximize the potential of AI in their marketing strategies. By combining AI with human expertise, companies can offer more affordable and accessible services that enable clients to achieve results that may not have been possible just a short time ago.
Hyper-Targeted Marketing In The Cannabis Industry
Another trend to watch in 2023 is hyper-targeted marketing. Initially gaining prominence through social media advertising, this approach allows businesses to focus on very specific parameters and target niche audiences. The trend is now expanding beyond social media, enabling companies to hone in on their desired audience more effectively.
For businesses in the cannabis industry, it's crucial to identify and reach their target audience directly. For example, growers might engage in hyper-targeted marketing by participating in vendor days at dispensaries, setting up stands to showcase their products, and interacting directly with consumers. This approach not only helps growers connect with potential customers, but it also helps build relationships with the dispensaries themselves.
While hyper-targeted marketing may require more legwork and repetition, it allows businesses to reach a more receptive audience. This can be more cost-effective than participating in large events that may attract many people who have no interest in cannabis products. By focusing on smaller, more specific audiences, companies can ensure that their message reaches those who are most likely to engage with their products or services.
Executive Marketing In The Cannabis Industry In 2023
The final trend for 2023 is what could be referred to as "executive marketing." This approach involves company leaders, such as owners, CEOs, or other representatives, promoting their brand through their personality and personal connections. Examples include speaking engagements at trade shows, appearing on podcasts, or being featured in magazine articles as a business entrepreneur.
Executive marketing is expected to gain popularity, especially among small to medium-sized businesses. By creating personal connections with potential customers, companies can build trust, increase their perceived value, and become top-of-mind during purchasing decisions. Even without direct face-to-face interactions, these personal connections can significantly impact a customer's relationship with the brand.
For businesses in the cannabis industry, identifying a suitable representative, whether it's the owner or another team member, and putting them at the forefront of the brand can be highly effective. By leveraging the power of executive marketing, companies can create a stronger bond with their target audience and improve their overall marketing strategy.
Partner With The Hood Collective In 2023
In conclusion, the cannabis industry is continually evolving, and staying ahead of the curve in marketing trends is essential for success. From video marketing and LinkedIn advertising to AI-assisted content creation, hyper-targeted marketing, and executive marketing, businesses in the cannabis space must adapt and innovate to make their mark.
The Hood Collective, a cannabis-specific marketing agency based in Portland, Oregon, is here to help you navigate these trends and develop a tailored marketing strategy that aligns with your brand and goals. Our team of experts understands the unique challenges and opportunities within the cannabis industry and is equipped with the latest tools and knowledge to elevate your marketing efforts.
Don't miss out on the opportunity to grow your cannabis business and connect with your target audience. Reach out to The Hood Collective today for a free consultation and discover how our services can help you stay ahead in the competitive cannabis market. Click here to start the conversation. https://www.hoodcollective.com/contact