With the legalization of cannabis in most of North America, advertising restrictions between states and amongst provinces can be difficult to traverse. Not only is geography a factor, but what you can advertise, to whom and how adds another level of complexity. Marketers are increasingly looking to market a new set of products, and this market opportunity is definitely significant. As such, there is a need to clear the air around an uncertain landscape that challenges even the most savvy and experienced business leaders.
Where do you start? What kind of content do you need? How can you meet your campaign goals amidst a sea of regulations?
It has been deemed the “Cannabis Revolution” and it is only beginning. Estimates on the size of the cannabis opportunity vary widely. According to a report available on ResearchAndMarkets.com, despite being illegal for so long, more than 37 million people in the U.S. and millions more in Canada use cannabis, both legally and illicitly. As a result, the market for cannabis in North America is already large and growing quickly. In 2018, more than $41 billion will be sold, and by 2026 that figure will rise to $95 billion.
The opportunity is significant, so it’s imperative that advertisers and marketers determine how to navigate this complexity of the cannabis landscape.
Did you know that cannabis advertising can only promote a brand, not cannabis in general? Or that cannabis advertising cannot attempt to influence adult non-consumers to try cannabis?
As a helpful one-stop resource, StackAdapt has created a guide that contains some best practices, as well as helpful strategies and tips for running successful cannabis campaigns.
If you are in the Cannabis industry – whether a licensed producer, retailer or offering investment opportunities, you want to have this guide at hand.