California is becoming a major player in the U.S. cannabis market, with several major marijuana companies establishing headquarters there to continue growth. As more states legalize marijuana, California is one of the most influential states in America due to its large population and licensing requirements.
This has been helpful for small and large startups, as well as for established brands looking to expand their reach. With more than 100 total medical cannabis licenses issued by the state, there is plenty of opportunity for small and large companies to succeed.
This article will discuss key elements that different brands need to know about California’s competitive society, what those elements are, and how they can apply them to their brands.
Build a brand
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By providing awareness programs and marketing materials, companies can build a loyal audience that continues to support them.
Get your product into dispensaries
Currently, almost no matter what product you sell, you have to enter the market through a large-scale distributor. These are large organizations that own many dispensaries and which recruit other dispensaries to join their network.
As a distributor, you can build your own network of suppliers, but they must be recruited individually as part of their staff. This requires a great deal of time and effort, which is not always the case at the onset.
However, with enough effort, each member can help build their reputation and get their product into the hands of customers who want it. A way for brands to succeed in this market is by recruiting individual members who are willing to get involved.
Advertising and marketing
With competition becoming increasingly fierce in California, brands are looking to expand their market by moving into cannabis marketing. Now is the time to become a trusted brand in the industry!
To succeed in California’s competitive marketplace, brands need to expand their market and learn how to promote their product effectively.
Many cannabis companies are running small advertisements on social media platforms and in marijuana-related publications, but they are not a reliable source of advertising. Small advertisements may only run for a short time before being taken down, and people who notice them posting about a drug must then go out and find information about it themselves.
A more effective way to advertise is through large advertisements. Large ads can be run on multiple outlets at once, making it look like you are serious about your product.
Communicate with your customers
Yourbrand is a smart move if you are looking to expand your business.
Know the regulations
As mentioned earlier, California has set up a system of regulations for cannabis businesses. These regulations cover everything from the size of your facility to where you sell your products. There are also extensive guidelines on how you should advertise your business and products.
For example, a company wishing to run a cannabis-only drinking establishment must have wine produced and sold, as well as cannabis consumed. So, their facility would be required to hold safety information and rules for operating a business, such as this one.
These resources are not hard to find, so do not worry about being unable to start your business because you do not know what they say.
Don’t smoke your profit away
While some cannabis brands have made great moves into mainstream markets, being competitive in the California market is key. To be successful, they must keep costs low and stay aware of emerging trends to retain loyal customers.
To stay competitive, brands must continually update their branding, manage their social media effectively, and stay aware of trends in consumer behavior.
Keeping a sense of humor is also important as consumers get older. For example, people who were young during the 1960s and 1970s may not remember much about those times, but for those who are 90 or older, those times may be very special.
Keeping products affordable is another way to remain competitive.
Prepare for the future
As more states legalize cannabis, more brands are eager to step into the void. This is great! However, there are a few key lessons that brand managers and brand designers can learn from cannabis brands to make it more difficult for less creative brands to succeed.
First, past performance does not necessarily indicate future results. Even though The dab Company’s recent dab sale was a success, it is important to remain vigilant of your product to ensure its quality.
Also, although past sales figures may indicate whether a product is competitive or not, being competitive does not mean you will be successful. As previously mentioned, The dab Company was not very successful in their market due to poor product quality and customer service issues.
Heckler & Ford did an excellent job in California in becoming competitive by offering quality products at reasonable prices. They also stayed updated on their products by selling them through online retailers such as eBay and Amazon.
Stay compliant with regulations
As hard as it can be for non-compliant cannabis brands, states that have stringent regulations must follow them or risk being ignored by the cannabis industry.
Many new cannabinoid brands have tried to operate in the gray area by using names such asunta or undersell. While these terms are technically legal, they do not appear to be widely used, suggesting additional regulations may apply.
However, those who stay compliant will only gain recognition from the government and consumers, allowing them to expand their market and grow their business. Consumers are looking for products that are safe and effective, and cannabinoid brands that remain compliant with government regulations will continue to gain popularity.
Continuing to meet regulation requirements is one of the most important things for cannabinoid brands to do when beginning to expand. Luckily, there are plenty of successful companies whose journeys into California’s competitive forth is worth sharing.
