Finding “the one” is hard, especially if you’ve never worked with an agency before. And hey, maybe working with an agency isn’t for you and your business. That’s okay. We just hope this blog post can help answer some of the more common questions that arise for cannabis businesses considering hiring an agency.
Picture the scene… It is CannaCon, a respectable B2B cannabis industry tradeshow in Denver, Colorado. I am walking and talking with Morgan, at the time President of the MJBA, later Founder and CEO of the Cannabis Women’s Alliance. We were discussing what topics we should discuss on an upcoming panel about the role of women in the cannabis industry we were both participating in that afternoon. All of a sudden, we both stop in our tracks at the sight of a nearly naked, black leather thong and biker jacket clad woman appearing to sit on some heavy machinery.
In two national surveys designed to uncover American attitudes toward cannabis, legalization and development of cannabis brands, we uncovered a unique subculture of Americans who strongly support legalizing recreational-use marijuana, but do not expect to purchase cannabis or engage with cannabis brands.
Except in California, home to a historically bolder and experimental population in which this demographic emerges as a strong potential cannabis consumer base.
During our market research on consumer motivations in cannabis brand attribute preference, we have consistently seen four segments emerge among consumers, who we call “Traditionalists,” “Outsiders,” “Indies” and “Idealists.” Of these four, “Indies” and “Outsiders” are the most likely to patronize cannabis brands on a regular basis.
Today we’re going to take a closer look at the Indies, who have increased by 15% since 2014. They currently make up about 26% of the population, and about 31% in California.
Nearly three years ago we launched our first study. Colorado had a legal Adult-Use market operational for less than 6 months. Our home state of Washington had barely begun legal sales. It seems like such a long time ago now but in the short period since then much has happened. The Green Rush is well underway and in our view the tipping point has been reached. Regardless of the current administration’s position, it is merely a matter of time before cannabis is legal federally. We’re not putting bets on a year but it is coming.
Google AdWords has proved an effective channel to acquire visitors and customers since its launch in October of 2000. Advertising drives the vast majority of Google’s $66 Billion in revenue. Having been involved at some level in the management of tens of millions in client media spend on AdWords over the years, I know the platform can work wonders. But what happens when the monopoly that is Google plays arbiter of civil liberties?
While the cannabis industry is one of the fastest-growing industries in America, cannabis is still classified as a Schedule I drug. And because Schedule I drugs are illegal at the federal level, advertising cannabis products faces a number of barriers other products do not.
2016 was an unforgettable year for the cannabis industry. Four new states legalized recreational use of marijuana by adults (including the mammoth, California); while another four legalized the use of medical marijuana. Meanwhile, sales in the states that had already legalized cannabis reached nearly $7 billion, an astronomical figure. With more opportunity in new states and the industry continuing to grow in mature in other states, experts expect to see tremendous growth once again in 2017.
Washington Cannabis Industry Continued to Grow in 2016
Recent data from the state of Washington indicates its budding cannabis industry continues to boom, which is great news for the state, as the industry has become a tremendous source of sales tax income.
A Look Back at the Oregon’s Cannabis Industry in 2016
2016 was a solid year for the cannabis industry in Oregon. Data provided by the state’s Department of Revenue indicates legal marijuana generated significantly more tax revenue for the state than expected, at just over $54 million. This revenue came despite some strict regulations that were expected to hamper Oregon’s recreational marijuana far more than it did.