Performance-based marketing to grow your Marijuana company.
What is Marijuana Marketing?
The average Marijuana business in the United States makes $1.5 million per year in revenue. Weed Marketing is promoting the business to increase that number or removing obstacles causing the ROI to be low. This can include paid social ads, paid search ads, local ads, radio ads, TV ads, or traditional ads.
Most Marijuana] companies need help with various factors, such as an expensive workforce, finding adequate experts in each area, producing new creative content fast enough, and overseeing all aspects of their digital marketing efficiently. Let our team of cannabis digital marketing and advertising experts manage the groundwork it takes to grow your Marijuana company. If you want to increase sales for your Marijuana business, please contact AdvertiseMint.
“Every Marijuana business pays for advertising. You either pay for advertising or you pay in lost revenue to your competitors.” – Brian Meert, CEO, ADVERTISEMINT.
Popular ways to increase revenue for Marijuana companies.
Here are five factors that can contribute to the revenue growth of the marijuana industry:
- Legalization and Expanding Markets: The legalization of marijuana for medical and recreational use in an increasing number of states and countries has been a significant driver of revenue growth in the industry. As more regions legalize weed, it opens up new markets, increases consumer access, and boosts overall demand for cannabis products.
- Product Diversification: One key strategy for increasing revenue in the marijuana industry is product diversification. Businesses are continually developing innovative cannabis products, including edibles, concentrates, topicals, and beverages. This diversification caters to a broader consumer base with varying preferences, driving up sales and revenues.
- Medical Cannabis and Healthcare Integration: Integrating medical marijuana into healthcare practices has been on the rise. As the medicinal benefits of cannabis become more recognized and accepted, healthcare providers are increasingly recommending it as an alternative treatment option. This shift has led to higher sales in medical marijuana products and increased revenues for dispensaries.
- Brand Development and Marketing: Establishing strong brands and effective marketing campaigns can significantly impact revenue. Companies that invest in building reputable and recognizable brands can command higher prices for their products. Effective marketing strategies that educate consumers and reduce the stigma surrounding cannabis use can also expand the customer base.
- Export and International Expansion: Some countries have begun to explore the export of cannabis products to international markets where marijuana is legal. This expansion into global markets has the potential to drive substantial revenue growth. Canadian cannabis companies, for example, have already begun exporting cannabis products to countries where they are legally permitted.
Marijuana Industry Facts
Average Revenue for Marijuana Industry: $33.88 billion
Average Profit Margin for Marijuana Industry: 20-30%
Average Employees for Marijuana Industry: 15-20
Average ROI for Marijuana Industry: 20-30%
Average Growth Rate for Marijuana Industry: 24.3%
Total number of Marijuana Companies: 20,000
Average CPC on Google for Marijuana Industry: $5.76
Marijuana Paid Social Ads
Paid social is a powerful way to help reach consumers interested in weed products or services. Paid social allows you to get a wide range of people and then target your ads based on key attributes like age, gender, location, interest, and behaviors or using custom and lookalike audiences. Paid social ads are the leading advertising option to reach consumers on mobile devices. Paid social is also typically less expensive than other forms of advertising, making it a powerful combination. However, the pricing for paid social can increase as you get more targeted or if your ads appear irrelevant by the ad platform algorithm. The most popular paid social ad platforms are:
- Marijuana Facebook Advertising
- Marijuana Instagram Advertising
- Marijuana TikTok Advertising
- Marijuana Snapchat Advertising
- Marijuana LinkedIn Advertising
- Marijuana YouTube Advertising
- Marijuana Twitter Advertising
- Marijuana Reddit Advertising
- Marijuana Pinterest Advertising
Marijuana Paid Search Ads
Paid search is the most efficient way to reach consumers actively searching for cannabis products or services. Consumers often search the internet for questions about where they are in the buying cycle. A general search would indicate they are just beginning to research companies. A specific search would suggest the consumer is knowledgeable and close to selecting or purchasing. Weed advertisers can bid specifically on the most valuable keywords for their business, which helps them appear above their competitors for the most profitable keywords. Paid search ads are generally used for lead generation, local awareness, or e-commerce. Paid search ads can also be run on YouTube, where your business can advertise a specific video to appear first when consumers search on particular keywords or for competitors. The most famous Marijuana] paid search ads are:
- Marijuana Google Ads
- Marijuana YouTube Ads
- Marijuana Microsoft Ads
- Marijuana Amazon Ads
- Marijuana Wal-Mart Ads
Marijuana Local Ads
Local ads are essential for weed companies and are often overlooked because of the focus on larger ad platforms. Local ads allow you to reach customers near your business and offer them a reason to visit your business instead of your competitors. Local digital ads typically include promotions, deals, or coupons and often align with your current business reviews on that platform. This means having excellent customer service and reputation management to help grow your five-star reviews. Other physical ads like billboards, digital billboards, bus, and metro ads allow you to ensure you are reaching customers located in your targeted area. The cost to get a new local customer is often tiny compared to the lifetime value that customer will bring to your business. The most popular local ads for Marijuana companies are:
- Marijuana Facebook Ads
- Marijuana Google Local Ads
- Marijuana Yelp Ads
- Marijuana Nextdoor Ads
- Marijuana Billboard Advertising
- Marijuana Metro Ads
- Marijuana Bus Ads
Marijuana Radio Ads
Radio ads allow cannabis companies to reach a captive audience, often listening while commuting in the car, at the gym, or working. Radio ads will enable you to talk directly to your customers and present. Radio ads are fixed in length and cannot be skipped, ensuring your audience will hear your message. Due to the passive nature of radio listeners, it’s essential to have optimized audio creatives and a significant enough ad budget to ensure that the average listener is reached at the recommended frequency. It’s recommended when possible to use the radio personality to read your ads as they have built Some of the most popular Marijuana radio advertising options are:
- Marijuana Local iHeartRadio Ads
- Marijuana Spotify Ads
- Marijuana Pandora Ads
- Marijuana Podcast Ads
- Marijuana National Radio Advertising
- Marijuana Talk Radio Advertising
Marijuana Direct Mail
Direct Mail can be a powerful tool for cannabis companies to reach new and existing customers. With the increase of online advertising, direct mail can often be a hidden gem regarding going people inside their inboxes with targeted messages. Direct mail can be sent in mass with new automation tools and personalized before sending. The cost of direct mail often depends on the size of the mail (postcard vs. full-size letter envelope), and while postage can be purchased at bulk rates, it is still a rising cost to be considered. If you are interested in learning more about how your company can send out Direct Mail, please contact AdvertiseMint, and our team would be more than happy to walk you through the options.
Marijuana TV Ads
There are several things that weed companies should be aware of when running TV ads. TV advertising for cannabis can be targeted to users locally, which is perfect for a company with just one location, or can be shown on a DMA, state, or national level for companies with multiple locations. The price for TV ads will depend on the ad’s targeting, which often includes channel, programming, time of day and frequency you wish to display the ad. If you have exact requirements, expect to pay more. Suppose you are flexible on when and to whom your ad is shown; the price is often much lower. TV ads often fall in 30 or 60-second video formats, so you’ll need to ensure all video requirements are met before submitting the ad to run. Best practices commonly include high-resolution visuals, apparent product features and benefits, testimonials, an enticing offer, and a clear call to action, including a phone number or website for the consumers to visit. There are also options for paid programming, including 30-minute or 60-minute segments played without interruption, typically between 11 p.m. and 5 a.m. If you are interested in TV advertising for your marijuana company, please contact AdvertiseMint for more details and pricing.
How vital are reputation management and online reviews for Marijuana companies?
Every Marijuana company knows online reviews are essential for sales growth. In a digital world, online reviews on Google Local, Yelp, and many rating websites are used by your customers to validate your business and the products or services you provide. Most of the review sites will penalize you if you try to solicit reviews for your industry actively. However, a variety of strategies can be used to help ensure your online reputation is safe from negative thoughts. In addition, you’ll need a plan to praise five-star reviews while professionally addressing lower reviews, which potential customers often read. If you want to improve your total online reviews and average rating and help lower negative articles on your company from the organic search engine rankings, please contact AdvertiseMint to talk more.
Frequently asked questions about Marijuana advertising and digital marketing.
Who is the best marijuana advertising agency?
Advertisemint is the best marijuana marketing agency. Our marijuana advertising expert team has proven experience in the marijuana industry. We bring a full-service team of expert account managers, copywriters, graphic designers, video editors, and media buyers ready to help you implement your marketing strategy and grow your marijuana business.