Category Archives: Cannabis Business

Marketing Tips For Cannabis Companies

We did an exhaustive search of social media news feeds in order to analyze the ways that social media marketing is being used in order to promote their services and products as well as promote their brands. Although hearing about social media success stories it great, it is also very useful to learn from others’ mistakes. The following are some of the biggest social media marketing mistakes being made by cannabis companies.

Putting All Of Their Marketing Eggs In One Basket

Many cannabis companies focus all of their efforts and attention on one social media platform like just Instagram or Facebook. Although that may appear to save time and require fewer social media marketing demands on the staff, this strategy actually has very high risks. For example, if you only focus on a Facebook page, just one random complaint from a customer or false move could end up triggering a shutdown of your Page and all of a sudden your only social media presence and all of your followers are wiped out. Yes, it may be possible to get your page back, but in the meantime how will you continue marketing online if you don’t have another social media presence?

The opposite side of having just one social media presence is having a presence everywhere. Although it is a good social media marketing strategy to have your brand name spread across many networks, a better approach is focusing on just a couple of them as your main traffic drivers and brand builders and using the others as gateways that lead to your major ones.

Failing To Use and Engage With Followers

So you have your social media accounts set up and some of the popular large social networks in addition to cannabis ones. That’s great, but are you actually using them? Having a social presence for your brand is a good first start, but if you fail to apply best practices on each of the social networks that you have joined it is just a waste of your resources and you won’t be able to reap the marketing benefits from them.

Even companies on tight budgets can still apply a couple of savvy streamlining techniques and utilize the free versions of some of the finest social medial management tools that are available in order to more from their social media presence on the major social networks. Instagram can be a big helps as it’s a far more visual medium and a lot of people find this works well for their brands. If you’re looking for more Instagram followers, Vibbi can be a huge benefit and really help you to get more followers and likes for your images.

Auto Tweeting from Instagram or Facebook

Although it might seem convenient and easy, auto tweeting isn’t the best way to get your social media marketing streamlined. For starters, Twitter can often be a broader-reaching social media platform compared to Instagram, Pinterest or Facebook, and can be better at relationship building to assist you with growing your business and brand. Also, in the beginning Twitter might have been a social network that was more text-oriented, but now Twitter polls, video, illustrations and photos can also be used, which makes feeds much more dynamic to help attract more retweets and attention.

When you auto tweeting from Facebook, it results in your tweets being filled with tweets that are text-only that cut off mid-sentence. Also the Facebook short URLs send the message of being boring and lazy. When you auto tweet from Instagram, you are unable to leverage all of those interesting visuals contained in your Instagram feed. That is a big waste? Instead, repurpose your Instagram and Facebook content by following Twitter’s best practices so that your videos and visuals reach a broader audience.

Lacks Links

Links can potentially drive a lot of traffic. Instagram doesn’t allow links. However, on all of the other social media platforms, failing to leverage social media posts for driving traffic to your most important web pages (not just your home page) means you are missing out on a lot of social media marketing’s power. You don’t need to have a link in each post you create, however we have seen some events and companies that never have a link included in their Facebook Page posts or tweets. They are missing out on many opportunities for sending people to an event registration page or product page.

Keep in mind that not every link is equal. As previously mentioned, you don’t want to send everybody to your home page every time. They can get lost there, and particularly when they are using their mobile devices. Think about where you can send visitors that will help to strengthen your connection with them and that they can access easily from their mobile devices. You might want visitors to watch a video, participate in a short poll, sign up for your email list, etc. Social media news feeds move so fast these days, that if you don’t add links to your posts, this will result in your followers (and their friends and followers) just tapping a like button and then moving on rather than making a more meaningful connection with you.

Forgetting to Post Important Messages

So many cannabis companies fail to post on a regular basis information such as who the company is, what they do, and having a clear call to action included to help encourage interaction. We have seen social media feeds of some companies where they never remember to post anything that explains their business briefly or showcases their services or products to their followers. Some companies become so consumed with attempting to get viral content created that they no longer address their business goals within their company’s social media news feeds.

You don’t necessarily want to be promoting things and being overly commercial at all times. However, if there isn’t even one post within your feed that helps people understand how you are and what you do that can be understood and shared by others to help promote you, then you will be missing out on some very big social media marketing benefits.

Social media marketing does take a lot of effort and time. It is very important for your social media marketing to come directly from your business goals, and to be aligned with the best practices of each social network. Also make sure it is set up so that puts more reach and power into each tweet and post.

Tips to Find Investors for Your New Cannabis Business

An article in High Times talked about how a cannabis business owner can receive investment funding. The article featured the basics on securing funding from outside. If featured five tips you can use to get starting finding investors for your cannabis business. The article stated that there are many investors just dying to get in on the ground floor in the legal marijuana business.

The tips listed in the article is nothing special, however. These tips are no different than any other type of business trying to secure investing of a start-up business. The five tips contain effective strategies and they prove one point. Other than federal prohibition, businesses specializing in cannabis are no different than any other type of business.

The main difference between investing in a cannabis business is it comes with a host of complicated compliance, regulatory and operational issues that are unique to this industry. For example, cannabis businesses face taxation, intellectual property concerns, employment challenges and the need for real property. These issues can cause investors to question if they should invest in these properties and how much they should be willing to invest in this type of business.

The following five tips will help you secure outside funding for your new cannabis business. Continue reading to learn more.

  • Preparation is Key
  • Before you talk to potential investors, you must complete a comprehensive business plan. The business plan should include project costs, financial projections, associated risks and the assessment of the marketplace for the next five years. This information will show investors how you will be using your funding and how the monies will help your business grow. An attorney specializing in the cannabis business is also a must.

    You should work hard to develop and establish a relationship with your attorney to ensure all legal issues are explored before seeking out investors. Investors are much more likely to take your business presentation seriously if you have consulted an attorney and fully understand all of the legal ramifications associated with a cannabis business.

  • The Importance of Your Track Record
  • Investors prefer to invest in a company with a proven track record. They want business owners who have made significant investments of their own, including financial investments and sweat equity.

  • Be Honest
  • Investors are professional business men and women who know a con when they are presented one. This means you cannot sway them with smooth talk. Most investors will only invest once they have received all relevant information and have completed some homework themselves. The worse thing you can do is make an investor feel like he or she cannot trust you.

  • Keep It Simple
  • When you are presenting your proposal, keep it short. You should be able to present your proposal within five minutes. This allows the rest of the appointment time to address any questions and concerns the investor has.

  • Know Your Goals
  • You must know what you want from your company and your investors. By having a clear plan and staying on point, you can ensure your company is successful and your investors will feel safe investing in your company.

    Cormac Reynold writes for Kratom Nation and has written about the cannabis industry for a number of years now.