Connecting with customers is an essential part of business marketing in all industries, but in cannabis marketing in particular, it carries even more weight. Effective demand generation draws new customers in and keeps them feeling engaged and valued. As a result, they’ll buy more and refer their friends.
Although demand generation and marketing sound similar enough, the two are distinct concepts. Understanding the difference allows businesses to design winning strategies and implement them effectively.
Here’s everything you need to know about marketing and demand generation in the cannabis industry.
The Difference Between Demand Generation & Marketing
To some, the terms “marketing” and “demand generation” are synonymous. However, although used in similar contexts, the two concepts aren’t the same. In a general sense, if your goal is demand generation, then marketing is the means by which you can achieve it.
Particularly, demand generation focuses primarily on building and maintaining customer relationships. According to HubSpot, demand generation is unique due to its “commitment to long-term customer relationships and a strategic mindset.” In cannabis, building and nurturing relationships keeps customers happy and coming back for more.
Marketing on the other hand is the mechanism that facilitates demand generation. Cannabis marketing has to do with functionally executing strategies. Printing flyers, posting on social media, and blog posts are all forms of marketing, and each of these can be used to capture leads and cultivate customer relationships.
Building a Winning Demand Generation Strategy
Developing a solid demand generation strategy is key for cannabis success. Without a thoughtful and deliberate strategy, your business will see few new customers and even fewer returning ones. Fortunately, we’ve got a few pieces of actionable advice so that you can build a winning strategy for generating demand.
Know Your Target Audience
First, you need to know who you’re selling to. Get into their mindset. Figure out what they like and dislike, where they spend their time — physically and digitally — as well as what their problems are and how you can solve them. Once you have all of the information, tailor your strategy to them.
Show Your Individuality & Cut Through the Noise
Using curiosity and intrigue — while still maintaining compliance — is a great way to spark interest among a large group of people. This type of exposure will also increase brand awareness and develop a positive identity for your brand. All of the interest in the world won’t mean a thing, though, if your target audience isn’t hearing your message.
Personalize Your Content
Continually personalizing your content gives your leads the feeling that they’re valued. Through this process, you’ll narrow communication down from one-to-many to one-to-few, and finally to one-to-one. The one-to-one communication allows you to directly interact with leads and begin to design a solution to their particular problem.
Make the Sale & Continue to Nurture the Relationship
Once a solution has been designed, now’s the time to seal the deal. If done correctly, cannabis marketing would make closing the contract seem like the next logical step — as though it was never in question whether or not the client would buy what you’re selling.
After the deal has been done, maintaining the relationship is still important. Keeping patrons engaged and delighted even after they’ve bought your product makes them feel even more valued. This good feeling eventually translates into better word-of-mouth marketing and more new customers as well as the increased lifetime value of current customers.
Cannabis Marketing & Demand Generation Recommendations
The cannabis industry is huge and each operation has plenty of competition. How do you cut through the noise and achieve true success?
Demand generation is the answer. Understanding your audience and making them feel valued will draw them to your business time and time again. Eventually, their love for you will turn into referrals to friends and family.
Be unique. There’s too much homogeneity in the industry. Deliberately standing out will set you apart from the competition and bring more customers into your circle.
Interested in maximizing your marketing and demand generation strategy? We can help! Contact us today to schedule a consultation.