How to increase sales in a cannabis company

With the legalization of cannabis, the industry is flourishing with new products and services in the market. Many are seeking to enter the industry hoping to take advantage of the green rush.

So what does it take to be successful in the industry? Whether you are just starting your business or have been in business for a few years, here are a few tips to get you on the right track.

1. Product Development

From inception to ideation to launch, you need to ensure your product fulfills a market need. During the product development stage, conduct research to understand the demand there is for the product or service you may want to launch. An untapped market is more likely easier to join because there aren’t as many established competitors. There are dozens of vape and flower brands along with other innovative cannabis products; make sure you have a unique product with a unique value proposition. Users should know why they are choosing your brand.

During the product development stage, use compliant, trustworthy companies for your product. You can always utilize Knowleaf when searching for flower or other related cannabis products.

2. Branding

With the rise of product launches, make sure that your branding is on point. A brand should have a personality and its tone of voice should align with that personality. From logo design to social media to packaging, everything must align in sequence. Every detail counts: from the colors and typography on a logo to how someone from the company talks about the brand. All are part of branding.

When choosing the packaging for your brand, make sure it is compliant. Green Rush Packaging provides an array of compliant package options you could customize with the brand.

3. Marketing

When it comes to marketing in cannabis, you can’t go the more visited route of marketing using digital ads from Google, Instagram, or Facebook because it is prohibited and there are content restrictions. Instead, host a product launch party or visit different cannabis expos and gatherings to expose your brand.

While you can’t advertise online, you can still have a strong online presence. Papa and Barkley are an example of successful marketing online through their engagement with customers. From their origin story to their educational blogs and social media posts, it is visible their stories focus on one factor: how their products can and are helping their customers find relief using cannabis.

Because the industry is in its early stages, education is vital to appeal to and gain the trust of the greater public, so find ways to educate customers about your product. And whether it is in person or online, remember to form relationships with customers to get to know them and to keep them coming back. The more you get to know your customers and collect data, the more focused and effective your marketing will be.

4. Distribution Channel

One of the most challenging parts of launching a cannabis product is distribution. Because there are so many new products, everyone is fighting for shelf space. Having a distributor could assist you with a multitude of tasks including arranging third party testing, packaging, and labeling to ensure your product and packaging is compliant. Moreover, a distributor can help you reach a larger customer base since most have established relationships with resellers and retailers.

To find a distributor who fits your needs, check out Knowleaf.

The industry is still developing; be ready to grow and evolve with it while still focusing on these four key points to help you be successful.