The Washington State cannabis industry recently reached its first $60 million month this July. At Canna Ventures, we believe insights-driven branding, strategy, and marketing are all essential to our process for building strong and lasting cannabis brands. With that in mind, this month we compiled some cannabis market data points concerning the state’s top selling producers, processors, retailers, product categories, product types, brands and more, from some of the most trusted resources in the industry.
On average today more than half of in-home devices are mobile, and mobile searches and purchases continue to rise. In a recent econsultancy study, businesses surveyed reported an average of 37% of their total digital traffic having come via mobile devices in 2016, up from 31% in 2015.
The following are the three most important mobile tips for cannabis businesses in 2016:
Many traditional forms of advertising are unavailable or too costly for many cannabis businesses today. This is perhaps why so many of them have turned to social media to engage with their customers and expand their overall reach. However, many of these businesses are also realizing that just being on social media isn’t enough. You have to go in with a plan in order for your social media efforts to pay off. You also have to pay close attention to what you’re doing every step of the way so that you can make sure you are representing your brand well, and following each channel’s guidelines accordingly.
Social media also isn’t rocket science.
Most cannabis businesses know the importance of having good quality online content. Your website is your digital storefront. In many cases, it’s your customer’s first (or only) introduction to your brand. Good content is important not only for getting the right customers to your site, but also crucial for getting them to stick around long enough to make a purchase.
As the cannabis industry continues to be one of the fastest consumer markets, the tactics used by niche companies and startups are becoming more main-stream, legitimized and professional. That doesn’t, however, mean that the scary tactics of old have disappeared. In fact, some have become so predominant in a constantly growing culture, that one has to wonder if the cannabis community is doing its due diligence to foster a safe and healthy community.
Since it’s almost Halloween, it’s only fitting that we take a look at the most dangerous and, honestly, scariest marketing tactics some cannabis companies are choosing to use, and explain why you should stay away from using them as well.
While you can’t market cannabis products on LinkedIn, B2B marketers in other industries still have the option to target marijuana and cannabis related businesses. LinkedIn will allow you to run pay per click online ads to this audience. You just need to know where to look.
Here are 4 ways you can find an audience using LinkedIn Ads
Who is buying recreational marijuana in Washington State? A lot of Oregonians. Some folks from Idaho. Washington residents to be sure, but also, a lot of Oregonians.
The Washington State Liquor Control Board (WSLCB) released detailed marijuana sales data from July 8 through October 6th last week.
The data allows us to look at sales by retail establishment, so we can finally see where sales are occurring. Nearly $14 million in recreational marijuana has been sold in Washington since July 8, 2014.
Many people saw dollar signs in the passage of Initiative 502, but the real business climate might prove treacherous.
Jessica Allen, a CPA with RainCity CPA, has already gained a wealth of experience dealing with interested entrepreneurs who want to take advantage of marijuana’s legalization. However, she has grown dismayed over hurdles the state has set in front of businesses trying to develop.
Their home page may not be inspirational, but the Washington State Liquor Control Board is posting all kinds of fun information on their website. Recently those fine folks started providing recreational marijuana sales by day.
It would be super to see this data broken out by flowers vs. edibles. We’ve seen that information broken out in Colorado. But since this data is sourced from tax returns, it’s all we have for now.