Northwest Arkansas Business Journal - It's Complicated: Advertising Cannabis by Elizabeth Michael
by Elizabeth Michael, principal at Bud Agency
The Green Wave is sweeping the country. And, no, I’m not talking about Tulane University athletics. It hasn’t been newsworthy in decades.
According to Pew Research Center, 62% of Americans, including 74% of Millennials, said they supported legalizing marijuana. Thirty-three states and the District of Columbia have legalized medical and, in some cases, recreational cannabis. Legal cannabis sales worldwide are expected to hit $57 billion by 2027, according to BDS Analytics.
The industry is growing at a dizzying speed — experiencing growing pains with normalization, and seeing front-runners make headway at establishing the first nationally known brands. The cannabis industry is on the cusp of mainstream, and companies with solid brands and goal-driven strategies backed by data will own the category.
As the cannabis industry navigates out of the shadows, it becomes inherently more competitive. Advertising is one age-old tactic to gain an edge on competitors, but cannabis brands don’t fit into traditional advertising frameworks … Read the full article on Northwest Arkansas Business Journal’s website.