It is an under-appreciated truth in the business world that nobody knows the value of your cannabis business better than you, the founder or executive team.
It is also an under-appreciated truth that 95% of your customers couldn't explain the value of your cannabis business if you cornered them in a parking lot and demanded answers.
How do we reconcile these truths?
Let’s start with understanding the problem.
You’ve built your operation through blood sweat and toil. Whether growing or extracting, processing or distributing, you’ve exerted more effort than any will know to make your business a well oiled and profitable machine. You’ve also studied your craft 1,000 layers deeper than most and can appreciate the subtlety of what you’re producing. Whether it’s your custom extraction technique, staffing protocols, or operational systems, you will always appreciate the quality of what you’ve produced more than your average consumer.
Now here comes a hard truth.
95% of your customers don’t know your expertise or talents, and frankly, couldn’t care less.
This doesn’t mean that your customers are uncaring or unappreciative of your work and product. Quite the contrary, they’re buying your product because of the quality and value you bring to their lives. Customers know when they’re consuming premium flower, high quality edibles, or expertly crafted pre-rolls. There’s just one major disconnect.
You wake up each morning consumed by your business, while your customer wakes up every morning in their own world, where your business plays only a small part. (It is important, but it’s still small.)
Throughout the instability of the last few years, cannabis brands have found themselves typically moving in two opposing directions, either flourishing during these times of stress, or floundering to stay afloat.
The primary difference between businesses that sail smoothly or struggle, was their ability to convey a consistently recognizable brand through times of massive change.
It seems almost trivial that high quality and consistent branding would make such a difference in a cannabis brand, but consider the following
Close your eyes.
Imagine a Red Bull can.
Now imagine a Coke can.
Now imagine a can of White Claw.
Instantly a brand feel comes to mind, colors, shapes, logos. It doesn’t matter if it’s the diet or cherry flavored version, a consistent and unique brand identity springs to mind for every example.
Why is that?
A successful brand doesn’t convey your 14 step extraction process or your best in class pre-roll line, save those messages for your investors (and mom of course). Your brand conveys an immediate emotional attachment that your customer can recognize through the noise of their busy day.
When they enter the dispensary or peruse the website, your messaging cuts through the glitz and fluff because it speaks to a single idea and a single identity. They don’t have to sort through options or consider the pros and cons, they just see you and they’re on their way.
Cannabis businesses that have spent the last two years crafting and messaging their brand consistently through their marketing and packaging have emerged from the pack of their peers ready to dive into the new year at a full sprint.
If you’re struggling to launch new SKUs, or finding your top shelf product isn’t generating top shelf attention, take a deep look into your brand, it may just be the difference between you sailing or struggling through the next year.
Let's build your brand!