Tag Archive for: advertising
Meet Laura Wilkinson Sinton, Cannabis Dispensary Exert, and Consultant for legal dispensary applicants. Founder of Caligrown.
First, a little background about Laura Wilkinson Sinton:
I live in San Diego with 4 kids and 5 grandkids. My husband is a cancer survivor that honed my cannabis chops, and I am a master composter and sea swimmer.
When did you first start working in cannabis?
2015. I got involved in several dispensaries’ marketing operations, as my brother and I owned an alternative rock radio station in Bend, Oregon. Apparently, no one would sell radio advertising to cannabis businesses, and we thought hey, it’s a state-legal business, of course, we can (and we were right). So, that’s how I got started, learning their business model and helping them grow the customer base and promote 4/20 events.
Do you sit on any industry boards or associations that you’d like to mention?
Yes. I am active in the NCIA and serve on the MAC (Marketing and Advertising Committee) and on the NCIA Sustainability Committee. Both are really great groups of professionals, and serving the nascent industry in this capacity has been really rewarding and great networking.
I am also active in the ArcView Women’s Inclusion Network, which has incredible benefits (access to lawyers and accountants and really smart people with experience and business intelligence). The ArcView group is geared towards helping you become successful, which is why the WIN is such a great group full of women with generous spirits. Several small cannabis organizations have cropped up locally, but it’s pretty fragmented and their missions may differ from each other. I am a board member of the local South County Economic Development Council. They promote economic development, and cannabis businesses present that very economic opportunity. It has been very influential in informing elected officials in adopting and allowing commercial cannabis. In California, it’s the individual cities that determine whether or not to allow them. And that last mile” has been really hard to push through in California, as we know.
What lesson did you learn BEFORE cannabis that’s been most valuable in cannabis?
In radio, in information security, and in other start-ups I have done, it’s to roll with the punches, plan for the long game, and bring your best self every day. And there are a lot of punches. Anybody who thinks cannabis is a “get rich quick” scheme is [off] the mark.
Is there a particular cannabis project you’d like to highlight?
Yes, a pending application for a micro-business in National City, CA (San Diego). Our location is actually ON a transit stop, 3 stops from the San Diego Convention Center (think Comic-Con!), has 65 parking spaces, and is actually on the Interstate 5 exit (with on AND off-ramps). San Diego area dispensaries have been relegated to industrial areas, car-dependent and tough parking because of overly restrictive land-use policy. You can’t suspend the rules of retail just for cannabis. It has to be accessible, and San Diego county is way behind the rest of California in permitting. There’s a dearth of dispensaries (50, where the economy can support over 570). So cross your fingers for us. We’ll be the first qualified social equity candidates 100% woman-owned entity (majority women of color) in San Diego.
What’s the biggest misconception cannabis companies have about cannabis marketing?
That big social media will come around (Facebook, Instagram, Google). Go elsewhere and stop spinning your wheels and raging against the machine. Not gonna happen.
What were you doing prior to cannabis?
I’ve been an entrepreneur in many places – information security start-ups, precious metals recycling, owning and operating radio stations and media of several types. I’m an entrepreneur at heart, and my husband is a cancer survivor; my mom died from Multiple Sclerosis. Cannabis has been a part of medicine in my family for a while.
In your view, what is the biggest digital marketing challenge facing cannabis companies today?
Misinformation, illicit marketers, breaking out.
What will get easier in cannabis marketing? What will get harder?
Easier? Public awareness of consumption methods. Harder? Nothing. It’s not an easy business now. Too many over-promised and disappointing results. It was oversold by public Canadian companies and private investors. Big plans, delayed delivery. Cannabis was to be legal nationwide by now in every prospectus I reviewed. Like a vacation- bring twice the money and half the clothes.
What can companies do to ease their marketing challenges?
Be patient. Results take time in marketing. Use a mix of media – digital alone will never get it done.
In your view, what is the most under-rated tool in the digital marketing toolbox for cannabis companies?
Creative. It matters more than anything to breakthrough. What do you have today that applies to your audience? Not relevant to YOU – relevant to your customer.
In your view, what is the most over-rated marketing toolbox for cannabis companies?
Digital reliance. It’s really fragmented at this point. And your share of voice matters.
What’s the BEST piece of advice you give everyone you work with?
Meditate daily and enjoy the impermanence in this life. Enjoy every day.
What’s your advice for people who want to get into cannabis marketing?
Be flexible. Leave toxic bosses quickly. Embrace the women in this industry, and lift them up.
How can someone contact you, Laura?
Thanks for sharing your digital marketing insights with us today, Laura.
There are TWO keywords for your post-COVID marketing strategy: Trust and Retention
2020 won’t be a year any of us forgets anytime soon. Social distancing brought us personal and economic uncertainty that’s sure to last through the remainder of the year. We won’t fully appreciate the full impact on this global pandemic for a very long time. Now IS the time to think about your post-COVID marketing strategies though.
Right now, businesses are having to make decisions that will determine whether they’re company survives or even thrives in a post-COVID-19 world.
Let’s face it, post-COVID marketing and PR will be very needed. It’s not a question of “if,” it’s a question of “what” and “how.”
From past recessions, we know customers steer towards familiarity during times of uncertainty. With this in mind, it’s important for brands to cherish their customers, keep in touch with their customers and tap into and enhance brand loyalty.
Even in a recession, consumers will still splurge, they will STILL treat themselves, but emotional triggers take on outsized importance because consumers actually DO want to feel good about their purchases and when consumers are watching their expenses closely, they have more to lose from a lousy brand (product, customer service, communication) experience. When consumers are watching their pennies, they aren’t taking as many risks with their money.
Get Emotional With Your Customer Retention
Now is a great time to reinforce the brand relationship with existing customers. Think about customer loyalty programs and branding & PR initiatives that strike right to the heart of your existing customers. Discounts and sales are easy, but do nothing for loyalty, so look at reinforcing customer loyalty right now. Now, understand, no consumer says “I want a relationship with a brand,” instead the relationship resides in their subconscious. Our work with Captivation Motivations means we deeply understand how consumers act, even when they don’t understand why they act.
Not only does post-COVID marketing to existing customers cost less than acquiring new customers, but it also pads the bottom line for years to come:
1) Customers with an emotional relationship with a brand have a 306% higher lifetime value and will recommend the company at a rate of 71%, rather than the average rate of 45%. (Motista)
2) Emotionally connected customers stay with a brand an average of 5.1 years vs. 3.4 years (Motista)
3) Emotionally connected customers recommend brands at much higher rates: 30.2% vs. 7.6% (Motista)
Grab Share of Voice While It’s Available
Brands who maintain or even increase ad spends are able to thrive in the years after recessions, the same will be true for post-COVID marketing. There are several reasons for this, first is branding confidence.
While the Edelman Trust Barometer of 2020 addresses the lack of trust in advertising, the strategy behind advertising isn’t trust itself, it’s exposure which leads to familiarity, which leads to increased trust. Also, the ROI will improve because fewer competitors will be advertising so your message will come across more strongly.
Plus, consumers know that marketing decreases during recessions, so by advertising you’re sending a message of your own confidence and strength to both customers and competition.
That said, expect PR, specifically earned media, to take an outsized influence as earned media leads in trust. Brands using PR to refine and focus their commitment to their existing customers will score extra bonus points in customer retention.
4) Companies who maintained or increase ad spend during a recession saw a 256% increase in sales over those who cut back (Innovating Through a Recession: Professor Andrew J. Razeghi Kellogg School of Management)
5) 92% of consumers say they trust earned media over purely promotional content. (PR Daily)
6) 70% of consumers prefer getting to know a company via articles rather than ads (Content Marketing Institute)
Maximize Happy Customers
Celebrate your existing customers, because customer retention is the name of the game. But go the extra mile too, ask for and encourage your customers to give you reviews and feedback AND show that you appreciate their willingness to do so. The reason for this is simple, the more engaged a customer, the more likely they are to be in the habit of referring you to others.
For the last decade, we’ve witnessed one of the most incredible consumer shifts in marketing: the traceability of consumer referrals. We now know that for certain that when a friend recommends a product or service, that product or service immediately benefits from a trust boost. This trend will be on supercharge throughout 2020.
During the boom economy, you probably spent the majority of your marketing budget on the acquisition of new customers. In the post-COVID marketing world, now it’s time to turn your funding away from acquisition funnels and into emotional connections and reinforcing trust with your existing customers, pivoting your marketing budget towards this strategy will increase revenues (yes, even during a recession).
7) Happy American customers will share their positive experiences with and refer about 11 people. (American Express)
8) It’s 5-25X more expensive to acquire a new customer than it is to retain an existing customer. (HBR)
9) A 5% increase in customer retention can increase company revenue by 25-95%. (HBR)
10) 80% of an organization’s future revenue will come from just 20 percent of your existing customers (InsightSquared)
Do you know why people respond (or don’t respond) to your brand storytelling?
The answer doesn’t lie in your typeface, your graphic design or even your social networks.
The answers lay in your strategy and customer.
Let me put it another way: do you know what motivations your customers respond to most powerfully?
Many years ago, I launched a marketing incubator designed to help marketers connect the dots between personality types and motivations. What I learned when I did that was few marketers understood how to trigger basic motivations and even those who did, didn’t really understand why they worked. These were great and successful marketers who were committed to becoming even better. These weren’t lazy marketers, these were great people, good at what they do.
Before I go on, let me explain something: I did not make up these motivations. I am not even the first to write about them. They are ancient and hard-wired into the human experience, in fact, these motivations reside in the largest part of our brain, what I call “the other 90%.” Simply put, these motivations are not some flash-in-the-pan-do-whats-trendy-now strategy, these are strategies which trigger reactions from the oldest part of our brain. Over the last few years, more and more has been understood about these motivations. But one thing is clear: despite the fact that these motivations developed in the earliest days of humanity’s survival of the fittest experiences, these motivations are very much alive and well today. What triggers them in the modern world is just different than what triggered them in our earliest evolutionary days.
So over the next weeks, I’m going to write a series about the seven Captivation Motivations all marketers should know. But not just marketers, product development, developers and anyone else who’s trying to trigger an immediate and memorable reaction.
The first Captivation Motivation I’m going to cover is so over-discussed and yet misunderstood, I wanted to get it out of the way: Storytelling
It’s important to understand WHY storytelling works and as importantly, what stories trigger us to buy.
If you take nothing else away from this blog post, understand this:
In essence, every purchase we make is part of our story and we know this, deep, deep down.
What stories do we like to listen to?
Stories about us.
Stories that make us feel smarter, better, part of something.
Stories that reinforce how we see ourselves or reinforce how we want to be seen.
Why is this? It’s because the biggest part of our brain is focused on, you guessed it, us.
This is why brand stories have to be very carefully crafted.
As communicators, we want to tell the brand story, but the reader wants to read a story about them.
This disconnect is HUGE.
And yet, we see excellent examples of great brand storytelling all the time. Simplistic and elegant and purely captivating.
One of my favorite examples is Coca-Cola. They kicked off their brand storytelling years ago with “I’d like to teach the world to sing…” So celebrated and so ingrained in our culture, that it was the final episode of Mad Men and suggested as the career pinnacle of outrageously creative Don Draper.
Coca-Cola continues to tell its story through its consumers. Think about the soda bottles wrapped in names and now adjectives like “VIP” “Latino” “Super Star.” Each of these taps into how we see ourselves or how we WANT to see ourselves. You can even buy your own personalized bottle. When this first released and still today, it created a ton of user-generated content on social. People loved taking pictures of themselves with bottles that told their stories. Reinforced their place in the world.
You never once see Coca-Cola telling some long drawn out boring-as-all-hell story about what goes INTO the bottle, or who works in marketing at Coca-Cola, no. The story is always about the consumer and the story or movement they want to create. There is connection, not disconnect. You are Coca-Cola and Coca-Cola is you.
The reason Coca-Cola’s brand value is somewhere in the neighborhood of 45% of the company’s value is because the brand “gets” the consumer, not the other way around. (Tweet This)
Apple is another great brand, although I feel they’ve lost their brand-way a bit. Still, the company is one of the most valuable brands in the world, regularly commanding a premium for technology that has been commoditized. Why? Because the brand had complete and total clarity from the beginning. It didn’t make computers; it designed products to enhance our lives. The keyword was design. Elegance, simplicity, easy integration into our lives. If Apple hadn’t insisted on these brand traits, it would just be another computer and laptop company. But again, these brand traits, they were customer-focused. They weren’t about Apple, they were about the user. And Apple has some crazy brand advocates who feel like owning Apple helps define who they are. Owning Apple helps them tell the world who they are. That is the pinnacle of advocacy and brand storytelling.
So when you start to integrate brand storytelling into your communications strategy, ask yourself three questions:
Who is the story REALLY about? (hint: be honest with yourself here)
How does it reinforce my customer’s image of themselves or the way they want the world to see them?
What emotion will they feel after finishing the story?
Bet your starting to think about next year’s social media marketing plan. And as importantly, where will social media marketing fall into the mix? Will there be more? Less? The latest Advertising Trust report from Neilsen may offer some insights to help you in your planning process.
One of the strongest reasons to increase your social media is the the number one source of consumer trust and action is “Recommendations from people I know”. Trust and action are often hand in hand, and we can’t discount the value of trust, but its also hard to measure. However, what creates trust and what creates action can be different. For example, consumers report that humorous ads resonate most with them. We know that humor is a powerful tool, especially in social media. It might be more powerful than cats, dare I say (GASP). However, humor is rarely what makes people take ACTION.
The action taking piece is the one I’m always most interested in looking at more closely. And its really no surprise that word of mouth leads the pack. Ads on social networks have a lower trust score than they do action score. That’s actually true for several advertising types. With respect to social media, there are two key take aways:
1) Use social to build trust and be very aware of what motivations exist for taking action.
2) The power of your tribe: when they share what you’ve got, its a more credible source. So be very aware of what and why people share on social. Tribes deeply impact our actions.
Now, the challenge with a report like this is that these results are all self-reported. The challenge with self-reporting is that people don’t always really know why they do what they do. I know, YOU always know why you do what you do. Or do you? Your motivations may not always be clear even to you. That’s why I started Captivation Motivation Training.
Just remember, what type of message you use impacts trust and action. Decide what you’re trying to establish in every single post. Be purposeful in your social media practice and you’ll find that you can actually be more human.
PS: If you’d like to download the Neilsen Report for yourself: click here
This post originally appeared on Akamai Marketing