Will your #cannabisbusiness survive impending economic changes (recession)?
Companies that invest in marketing (properly) will be able to survive the economic changes we will inevitably experience, but those that don’t, may not be able to make it through a downturn.
If you think that #cannabis is recession-proof…you’re right and wrong.
The data is proving that it is, but that doesn’t make every cannabis company exempt from going down in flames should a recession hit us.
Cannabis, however, is not bad, or lack of leadership proof, and that can pose a problem no matter what the economy looks like.
Companies that invest in their long term #marketingstrategy and effective #leadership (not just hiring freelancers or vendors to implement what they think they should be doing) those are the companies that will survive.
Which type of company do you want to be?
The company that burns through freelancers or employees because there’s no real #strategy or leadership in place, or a company that values their employees, values strong leadership, and is defining their brand position in the market to be able to successfully weather any storm?
With many challenges facing the cannabis industry, having strong leadership to help define #branding is critical before any storms hit.
Think of it as preparing for a hurricane, and not waiting until the last minute to get supplies.
Things to think about:
Are you memorable?
Are all of your marketing or advertising efforts standing out from the sea of green?
Yes, cannabis has a lot of land mines to navigate, but that also doesn’t mean that you can’t push the envelope of what can be done to get attention and become memorable, making the most of your marketing budget.
Don’t be lame. Even as a highly regulated industry, we have to think outside of the box with fun and creative advertising.
Is your imagery visually appealing?
Do you know how to stop the scroll, and demand attention from your ideal client?
If not, you’re wasting money on your marketing efforts.
There are certainly limitations in the #cannabisindustry, but there are easy ways to overcome these obstacles, again, thinking out of the box and getting your head out of the sand to address the blindspots you aren’t even aware of, helping your team learn the true cost of lead generation.
Is your team writing good copy?
Do you know how to use words to get your ideal customer to take an action in the name of lead generation (whether you do this in-house or you rely on lead generation outsourcing?)
That’s what good copy can do, but if your team is just slapping something together for the sake of #content, then you’re missing valuable opportunities on a daily basis, and leaving money on the table….your competitor’s table, and they’re about to roll it up and smoke it. 💨
The choice is yours, but don’t get caught unprepared if (or when) the storm hits, and don’t say you weren’t warned. ⚠
#marketing #advertising #team #creativeadvertising #cannabiscommunity #cannabismarketing #brandpositioning #brandpower