CANNAINVESTOR Magazine September / October 2016 - Page 75

The recreational cannabis industry has seen countless new brands enter the market, from CBD tinctures to innovative edibles to hemp textiles. So many new brands have thrown their hats into the arena that it isn’t just marketers stressing the need for strategic branding in the current market, it’s a must. The only way to set a cannabis company apart from the rest of the heavily saturated competition is to create an innovative brand that can sell itself. To do this it’s wise to follow some very simple branding rules of thumb that are manipulated to fit into the cannabis world before even thinking about launching the company. A modern cannabis entrepreneur needs to cultivate a brand that has a specific audience in mind for their product or service. Whether the target demographic is the modern parent, a young self starter or even an outdoors enthusiast; isolating a space for the brand to fill will help in every aspect of branding the new entry into the cannabis sector. These specific aspects of branding can be a great start for a new start up or a petering company that is looking for a fresh face.

Innovate For the Future

Those who choose to enter the ring of cannabis entrepreneurship in the beginning phases of state to state recreational cannabis not only have the opportunity to capitalize on a huge new financial sector, but are also able to have a responsibility and voice in creating the future of cannabis culture. Not only will an innovative brand redefine the culture surrounding the plant, it will also be much more effective than the usual cannabis branding techniques of puns and stoner iconology. Being fresh is something important to think about while planning and executing each phase of the branding process, from naming the company to creating a social media cover page. Isolate and understand what the vision of the brand is and then work to cultivate a community around that vision using a myriad of branding techniques. With cannabis now a legal commodity branding is no longer a ‘hush, hush’ operation, cannabis brands are now able to branch out and access entirely new target demographics. Identify current brands that are already successfully established within the niche that would fit the brand’s prospected image and take notes from them. Use the examples that are laid out and don’t copy them but instead understand what techniques were used to acheive this effect. With the proper branding techniques in this blossoming sector we can not only target a specific person or community but we can maintain an image that could one day be accessible to every adult over 21 in the country and even the world.