5 Key essential cannabis industry principles

Published May 27, 2021 11:00 a.m. ET
iStock / IvelinRadkov

As policymakers determine the best rules and regulations, cannabis businesses can take the reigns by adopting influential industry principles that positively reflect on both the market and its many consumers. Though the government must play a significant role in managing cannabis business boundaries, companies involved should also take responsibility and help to lift the stigma that still lingers so that together, we can shape a better and brighter tomorrow for all.

Whether your company is in the middle of planning out some of its best marketing strategies, or you simply want the existence of your green business to play an important role in the transformation that so many consumers and business owners are waiting for, the right path forward should always include all five of these key essential cannabis industry principles.

1. Appropriate advertising material

We all know that the media uses several different tactics to sell hot products, but two of the most commonly utilized are sex and stereotypes, even when the images don’t necessarily have anything to do with the goods in question. These advertising techniques might work in some markets, but responsible cannabis businesses should be avoiding all taboo associations that could further hinder the reputation of both the plant and the numerous people who use it. Most customers know that smoking a bit of pot can be fun, but what they need to be made aware of is exactly what you have to offer, can positively do for them, and that is where the focus should stay.

2. Education

Policymakers in most regions overlook the need for education on cannabis, be it due to a lack of funds, or a minimal understanding of what that even means, or the positive impact it could have on the market as a whole. This is an unfortunate oversight that can be costly, but it can be corrected with the help of cannabis businesses that choose to focus on sticking to and conveying the facts. No matter how small, every tidbit of green knowledge helps consumers to know more about their substance of choice while also alleviating some of the bad reputation gained by the spread of most commonly believed myths and stereotypes; a move that’s good for everyone in the industry.

3. A focus on responsible cannabis use

Once upon a time, the likes of Cheech and Chong were portrayed as average stoners, and for the most part, even consumers didn’t take much issue with the joke until the stereotype of a lazy pot smoker eventually came back to bite them. The thing is that we know now, all it takes to avoid becoming awkwardly impaired by cannabis is responsible consumption, which is why that is something that weed businesses really need to put an emphasis on. This could reduce the number of consumers that report adverse reactions to pot products, thereby increasing their chance of enjoying the products that your company sells, making it a smart business decision.

4. Directing all cannabis-related promotions towards adults only

It’s easy to get lost in the fun of it all, especially when you’re in charge of advertising cannabis products, tools, or events, but there are some important boundaries that should be maintained to ensure that what you’re selling isn’t overly appealing or accessible to youths. That means no recreating mock brands of candy from your youth and utilizing adult-only venues to get the word out. We know that concerns surrounding underage consumption are the number one reason behind such strict limits on pot products like edibles, so it is up to cannabis businesses to ensure that it doesn’t happen by offering services and open advertising only to those of legal age.

5. Transparency

In some jurisdictions, policymakers enforce transparency in cannabis products by requiring labels that obviously display certain important facts such as cannabinoid content, but no honest green company would want to stop there. Transparency creates the ultimate environment in which to establish and build trust with consumers, which is why more cannabis businesses should bear it all, holding themselves accountable for both poor and good decisions that are made along the way. Customers want to know where their products are coming from, the process they went through for preparation, and any other nitty-gritty details they can get because it helps them to learn, and we in the cannabis industry should willingly provide that.

Now that cannabis is legal, those who use it are demanding an evolved experience that all begins with their very first visit to a local dispensary. From there, every interaction with products, exposure to advertising, and principle laid out significantly influences how they feel about the market as a whole. Do they trust it? Is it responsible? More importantly, is it something they can be proud of? With these five key principles in action, cannabis businesses can provide themselves with a stable future ripe with fewer restrictions and a consumer base that feels like they’re truly getting their money’s worth.

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