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Marketing Cannabis as Challenge and Opportunity

Submitted by Marijuana News on Thu, 05/07/2015 - 10:02

In a rapidly evolving cannabis marketplace it is increasingly vital for businesses to stand out from the competition. But many cannabis businesses have a long way to go when it comes to building brand recognition, which is key to long-term success.

“Most businesses are not marketing or advertising effectively,” said Lee Weiner, president of the cannabis marketing company 7 Leaf Marketing, based in Denver. “Many think the product [cannabis] sells itself, or rely on their current customer base. That will have to change.”

Aligning sales and marketing efforts to drive up profits and revenue is key. Many new to the legal cannabis trade may not be trained in sales, and others fail to track the ROI of marketing campaigns, he said. “If you are not tracking the results, how do you know what is working? How can you improve? Closing the gap between sales and marketing drives revenue through the...

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