Full Spectrum: A Deep Dive into Responsible Cannabis Advertising
The cannabis industry is lit, but is it shining bright enough in the marketing world? The Cannabis Media Council (CMC) dropped its report for , “Full Spectrum: Guidelines for Responsible Cannabis Advertising,” and it’s got everyone talking. This isn’t just some dry report; it’s a roadmap for cannabis businesses trying to navigate the hazy world of advertising and marketing. Think of it as your GPS for getting your brand seen in a crowded marketplace.
Key Findings: Why Cannabis Marketing Needs a Wake-and-Bake Call
Let’s be real, the cannabis industry is booming, but its marketing budget? Not so much. The CMC report highlights some serious underfunding issues that are leaving cannabis brands in the dust compared to other industries.
Underfunding: Cashing in on Marketing? Not So Fast.
Here’s the lowdown: most cannabis companies are only allocating a tiny sliver of their budget to marketing – often way less than five percent. Meanwhile, traditional sectors are pouring in something like nine to twelve percent of their annual operating budgets into getting their name out there. That’s a HUGE difference!
It’s like trying to win a marathon by walking – you might finish, but you’re not gonna snag that gold medal.
Spending Disparity: Cannabis Marketing on a Shoestring Budget
Hold up, it gets even more interesting. The report reveals a massive gap in marketing spend between cannabis brands and other big players in the market. We’re talking a whopping eighty-two percent less spending compared to the Consumer Packaged Goods industry (think snacks, drinks, all that good stuff).
And if you thought that was wild, get this: dispensaries are spending a staggering ninety-two percent less on marketing compared to other retailers. That’s like trying to compete with Amazon while whispering your sales pitch from a street corner.
A Chat with Amy Deneson, CMC Co-founder
We sat down with Amy Deneson, the brains behind the CMC, to break down the report and its implications for the cannabis community.
Who Needs This Report?
Amy emphasized that this report is a must-read for anyone involved in the cannabis space. We’re talking:
- Cannabinoid operators looking to make their marketing dollars stretch further than a yoga mom in Lululemon.
- Media folks – publishers, platforms, you name it – who are dipping their toes (or diving headfirst) into the cannabis world.
Why So Cheap? The Reasons Behind Low Cannabis Marketing Spend
Amy shed some light on the reasons behind the industry’s tightfisted approach to marketing. It all boils down to:
- Taxation: The current tax laws are harsh, making it impossible for cannabis businesses to write off marketing expenses. Talk about a buzzkill!
- Industry Immaturity: Look, cannabis is still the new kid on the block. Many businesses haven’t fully grasped the power of marketing and how it can take them to the next level.
- Misconceptions: There’s a lot of confusion and misinformation swirling around cannabis advertising. Some folks even believe it’s completely illegal (spoiler alert: it’s not!).
Full Spectrum: A Deep Dive into Responsible Cannabis Advertising
The cannabis industry is lit, but is it shining bright enough in the marketing world? The Cannabis Media Council (CMC) dropped its report for , “Full Spectrum: Guidelines for Responsible Cannabis Advertising,” and it’s got everyone talking. This isn’t just some dry report; it’s a roadmap for cannabis businesses trying to navigate the hazy world of advertising and marketing. Think of it as your GPS for getting your brand seen in a crowded marketplace.
Key Findings: Why Cannabis Marketing Needs a Wake-and-Bake Call
Let’s be real, the cannabis industry is booming, but its marketing budget? Not so much. The CMC report highlights some serious underfunding issues that are leaving cannabis brands in the dust compared to other industries.
Underfunding: Cashing in on Marketing? Not So Fast.
Here’s the lowdown: most cannabis companies are only allocating a tiny sliver of their budget to marketing – often way less than five percent. Meanwhile, traditional sectors are pouring in something like nine to twelve percent of their annual operating budgets into getting their name out there. That’s a HUGE difference!
It’s like trying to win a marathon by walking – you might finish, but you’re not gonna snag that gold medal.
Spending Disparity: Cannabis Marketing on a Shoestring Budget
Hold up, it gets even more interesting. The report reveals a massive gap in marketing spend between cannabis brands and other big players in the market. We’re talking a whopping eighty-two percent less spending compared to the Consumer Packaged Goods industry (think snacks, drinks, all that good stuff).
And if you thought that was wild, get this: dispensaries are spending a staggering ninety-two percent less on marketing compared to other retailers. That’s like trying to compete with Amazon while whispering your sales pitch from a street corner.
A Chat with Amy Deneson, CMC Co-founder
We sat down with Amy Deneson, the brains behind the CMC, to break down the report and its implications for the cannabis community.
Who Needs This Report?
Amy emphasized that this report is a must-read for anyone involved in the cannabis space. We’re talking:
- Cannabinoid operators looking to make their marketing dollars stretch further than a yoga mom in Lululemon.
- Media folks – publishers, platforms, you name it – who are dipping their toes (or diving headfirst) into the cannabis world.
Why So Cheap? The Reasons Behind Low Cannabis Marketing Spend
Amy shed some light on the reasons behind the industry’s tightfisted approach to marketing. It all boils down to:
- Taxation: The current tax laws are harsh, making it impossible for cannabis businesses to write off marketing expenses. Talk about a buzzkill!
- Industry Immaturity: Look, cannabis is still the new kid on the block. Many businesses haven’t fully grasped the power of marketing and how it can take them to the next level.
- Misconceptions: There’s a lot of confusion and misinformation swirling around cannabis advertising. Some folks even believe it’s completely illegal (spoiler alert: it’s not!).
Cannabis vs. Marijuana: A Tale of Two Terms
Ever wondered if there’s a difference between “cannabis” and “marijuana”? You’re not alone. The report dives into this linguistic hotbox, advocating for the use of “cannabis.” Why? It’s all about ditching the negative baggage that “marijuana” carries – we’re talking decades of stigma and misinformation.
But here’s the catch: “marijuana” is still the magic word when it comes to SEO. Yep, people are out there Googling “marijuana dispensary near me” like it’s , and the report acknowledges this reality. It’s a tough call, right? The report provides the knowledge, and ultimately, it’s up to businesses to decide what works best for their brand.
Navigating the Wild West of Meta and Influencers
Let’s face it, social media is where it’s at, and Meta (that’s Facebook and Instagram, for those not in the know) is the 800-pound gorilla in the room. But can you even advertise cannabis on these platforms? The report breaks it down, explaining that while THC products are a no-go, hemp-derived CBD is getting some love.
But hold your horses, there are rules. The report offers some serious intel on working with Meta, even featuring a case study from Embarc, a California-based cannabis brand that’s killin’ it on social media.
And then there’s the influencer game. The report stresses the importance of finding influencers who vibe with your brand and, more importantly, can actually deliver results (read: ROI). It also emphasizes the need for airtight contracts and clear communication to avoid any, shall we say, unexpected surprises.
Decoding the Data: Insights from the “Full Spectrum” Report
The “Full Spectrum” report doesn’t just point out problems; it digs deep into the data, offering valuable insights for cannabis businesses looking to up their marketing game. Here are some key takeaways:
Channel Deep Dive: Where’s the Marketing Love Going?
The report reveals some interesting trends in how cannabis companies are spending their marketing dollars. It’s all about digital dominance, with social media, search engine optimization (SEO), and content marketing taking center stage. And let’s not forget about the power of email marketing – it might seem old school, but it’s still a major player in the cannabis space.
State of the Industry: Challenges and Opportunities
The report doesn’t shy away from the challenges facing the cannabis industry, from ever-changing regulations to the ongoing stigma surrounding cannabis use. But it also highlights the incredible growth potential, especially as more states legalize recreational and medicinal cannabis.
Remember those tax and banking issues we talked about earlier? The report digs into those too, offering potential solutions and advocating for policy changes that could unleash the full potential of cannabis marketing.
The Future of Cannabis Advertising: A Budding Landscape
So, what does the future hold for cannabis advertising? The “Full Spectrum” report paints an optimistic picture, predicting continued growth and innovation in the years to come. Here are some key trends to watch out for:
Data-Driven Decisions: Say Goodbye to Guesswork
As the cannabis industry matures, so will its approach to marketing. The report emphasizes the importance of data-driven decision-making, urging businesses to track their marketing efforts and use data to optimize their strategies.
Embracing Technology: AI, VR, and the Future of Cannabis
Get ready for some next-level marketing, because the report predicts that artificial intelligence (AI), virtual reality (VR), and other cutting-edge technologies will play a major role in shaping the future of cannabis advertising.
Social Responsibility Takes Center Stage
The report stresses the importance of responsible cannabis advertising, emphasizing the need for transparency, accuracy, and ethical marketing practices. As the industry continues to evolve, expect to see a greater emphasis on social responsibility and community engagement.
Wrapping it Up: Your Guide to Crushing the Cannabis Marketing Game
The “Full Spectrum: Guidelines for Responsible Cannabis Advertising” report is more than just a report; it’s a game-changer for the cannabis industry. It provides a comprehensive look at the challenges and opportunities facing cannabis marketers, offering invaluable insights and actionable advice for navigating this complex and ever-evolving landscape.
Whether you’re a seasoned cannabis entrepreneur or just starting out, this report is your guide to crushing the cannabis marketing game. So, what are you waiting for? Head over to cannabismediacouncil.com to download your free copy today!