Latest Wave of Cannabis Legalization Brings New Marketing and Brand-Building Opportunities for Businesses of All Stripes

Cannabtimes

<![CDATA[Among other things, the 2020 U.S. election cycle ushered in another wave of cannabis legalization. Five states—Arizona, Montana, Mississippi, New Jersey and South Dakota—voted in favor of legalizing cannabis in some form, adding to an already growing list of 33 states and further demonstrating that attitudes are becoming more progressive and less taboo. The advertising industry is eager to do its part to ensure this billion-dollar business can thrive to its fullest potential. However, the barriers to entry are significant. Many media channels, particularly online, still will not accept cannabis ads. With options limited, brands have turned to out-of-home (OOH) advertising, which has enjoyed a disproportionately large percentage of the cannabis advertising share. Nearly half of all ad spend to promote cannabis businesses went to this sector in the first four months of 2020. To place this into context, the industry average share for OOH is just 4%.RELATED: In the Face of Restrictions and Limited Channels, Cannabis Marketers Turn to Out-of-Home Advertising–Here’s the Right Way to Do ItHowever, to say OOH receives this share purely due to having fewer restrictions than other channels would be unfair and inaccurate. In fact, when regulations surrounding the advertising of cannabis lessen, OOH will remain a powerful, highly effective and incredibly accessible channel ideal for all cannabis brands, from producers to dispensaries and beyond.For starters, we know that generating high awareness when launching a product or opening a new store is critical to success in any business. This is true for cannabis brands as well, with one in four consumers learning about new products and their availability directly through advertising. For young cannabis brands, delivering a message that can be trusted by the consumer is of equal importance. For this reason, cannabis brands must depend on and utilize trustworthy media to inform consumers of…

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Source : Latest Wave of Cannabis Legalization Brings New Marketing and Brand-Building Opportunities for Businesses of All Stripes

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