Tag Archive for: cannabis industry pr
Creating appropriate crisis communications strategies is necessary for any business, but this is especially true for a cannabis crisis. Whether it’s a recall, or a significant event hits the industry, cannabis companies must change how they handle potential problems that could challenge their success. This is especially true for CPG companies like cannabis brands who also have the additional risk of a cannabis recall.
The unexpected can happen at any moment. For example, the COVID-19 outbreak limited business operations and disrupted consumer spending habits. Airlines canceled flights, and hotels stopped accepting reservations. Everyone went into lockdown, and it affected companies in every job industry.
You need to have a solid plan in place before you face a cannabis crisis that can significantly affect the cannabis industry. Adequate preparation could prevent a decline in profitability while you’re dealing with a new normal. You must develop necessary communications to address scenarios you could encounter. Circumstances constantly change, and it’s crucial to be ready for anything.
You might need to establish multiple communications channels. You should create a hub and assign specific people to lead each group. Allow your chosen leaders to review and approve statements and consistently provide updates to executives.
Each staff member within the groups should have scripts they use to answer external and internal inquiries. They should also have a list of updated contacts, so they have access to people they need to communicate with.
In a Crisis: Prioritize Safety
Consumers want to know they’re safe whenever a crisis hits. During the coronavirus pandemic, companies put safety measures in place to protect their employees and customers from unnecessary exposure. When you run a cannabis business, you should ensure everyone’s safety at all times. Anyone walking into your store or buying your product needs to know they’re in an environment that won’t make them sick.
Your communications should address safety concerns. Anyone overseeing an internal employee should work with HR and legal teams to develop policies regarding sick leave, working shifts, office health, and telecommuting options during a crisis. You should also create a plan to approach conversations between managers and employees, so information flows seamlessly throughout the company.
Instruct groups handling communication with consumers to advise the protocols you follow regarding cleaning and health. Your customers should be aware of the maximum capacity in your stores and how your workers handle cannabis deliveries without putting others at risk.
Your website is essential for communicating with the public during a crisis. Update your page frequently to inform others of your company’s policies. Advise them of the steps you’re taking to address current issues and prevent further problems from arising.
Your customers should know you take their health and safety seriously during this challenging time. You’re not willing to place them in harm’s way when there’s a crisis. All the safety precautions you take are meant to protect you, your employees, and the public.
The team you designate to handle regulatory affairs will play a valuable role in your company. They can liaise with federal and state health officials to keep your business up to date on evolving safety protocols. The team should communicate regularly with officials and share accurate and detailed information with management and staff. They should also notify officials of what your company is doing to comply with the required regulations.
Impact of Cannabis as an Essential Business
Many states see the cannabis industry as essential. Instead of shutting down with other businesses when there’s a crisis, these companies can remain open. However, acquiring and maintaining the status of an essential business isn’t a guarantee for success. You must have a plan to respond to the local government’s regulatory agendas and address their concerns if you want to continue operating.
You can plan how you’ll communicate the essential nature of your product by discussing the medical needs of cannabis. Lobby for an essential status designation from the leaders in your area. Taking action now could prevent a crisis from negatively affecting your company in the future.
Employees in your PR and marketing groups can explain the medical and social benefits of cannabis to a large audience. They can show the public the importance of the cannabis industry and how it can help people navigate a crippling crisis, such as the Covid-19 pandemic.
Your media team can also inform reporters of your company’s philanthropic efforts. Some businesses donated hand sanitizer to healthcare workers to keep them safe and prevent the further spread of the virus. Journalists and news outlets can get the word out about your industry’s dedication to the well-being of residents within the community.
Don’t Forget About Your Investors
You must maintain frequent and ongoing crisis communications with anyone with financial interests in your company, such as investors and suppliers. Instruct your team to communicate with your suppliers regarding retail challenges and inventory shortages they might face. Try to come up with solutions to the problem before they happen, so you protect your retailer’s and supplier’s bottom lines.
Any investors you formed a relationship with should be aware of the steps you’re taking to resume normal business operations. Your team must identify essential business functions, such as supply chain services and critical jobs, that are necessary to continued operations with limited disruptions.
Your spokespeople must warn investors of potential disruptions to operating procedures. Your investors should also know about your plans for an emergency and how you’re going to recover once the crisis is over.
Streamlining your crisis communications strategy means you can successfully navigate any crisis you face. Review statements you make before releasing them to determine whether they reflect your company culture and the impact you have on your customers. The cannabis industry can overcome complex obstacles and thrive with strategic and effective communication plans.
Contact Us
Avaans Media is a top cannabis PR agency you can depend on to effectively manage your company’s brand and implement the appropriate strategies to gain new customers and grow your business.
Since 2008, our PR team has provided comprehensive services to clients in various industries. The cannabis business is unique but expanding rapidly. You need to keep up with your competitors, so they don’t leave you behind. Our team can spearhead your campaigns to improve your credibility and reputation within the market.
Contact us right now if you’re interested in discussing your needs with a trusted and knowledgeable PR firm with years of experience.
2022 promises to be another intense news year and while there is no shortage of news stories, there IS a shortage of journalists; fewer journalists means fewer stories. With the mid-terms and a potentially all-consuming COVID news cycle, cannabis (THC and CBD) are no longer securing media coverage simply for BEING a cannabis company. So it’s more important than ever that marketing and PR develop campaigns that do more and go further. That means cannabis CPG brands need to think bigger and bolder. With that in mind, here are our 3 ways cannabis PR accelerates your business goals AND media coverage.
[6-minute read, 3 minute listen]
Cannabis Business Goal: Secure Investors and/or Prepare for IPO
“As we look forward to 2022, one of the big themes for cannabis investors should be the emergence of the brands,” said Seymour, (of) Amplify Seymour Cannabis ETF (CNBS)” on Highly Objective substack by @dai_truong #emergingindustries #emergingbrands https://t.co/xB7SOXpHDO
— Avaans PR (@AvaansPR) January 18, 2022
This may very well be a great year for cannabis companies trying to raise funds or even IPO. But now that there is very little first-mover advantage left, it’s more important than ever to invest in brands and branding. This means really leaning into your target market and expanding the lifestyle your CPG product delivers to your target consumers. For brands at this stage of growth, we’re deeply encouraging these brands to consider partnerships and campaigns with purpose-driven initiatives. In 2008, Blackrock CEO Larry Fink made major waves when he said “to prosper over time, every company must not only deliver financial performance but also show how it makes a positive contribution to society.” And in he continues to double down on this, as Blackrock highlights social contribution in its investments.
PR to Accelerate Cannabis Business Goals
But it isn’t just institutional investors who are eyeing social contributions, it’s consumers too. The biggest generation since the baby boomers and their little brothers and sisters, the Gen Z’ers are all looking to connect with brands who illustrate their responsibility to society. And according to Zeno’s Strength of Purpose report, consumers are 4.5x more likely to recommend a brand with a strong purpose. And lest you think it’s just young people attracted to purpose, the same report says those over 74 are more likely than any other generation to purchase from brands with purpose.
Investors love consumers, and they REALLY like customer loyalty and growth, so if you’re looking to improve your standing with VC or investors, 2022 is your year to take your purpose-driven initiatives to the next level. But it doesn’t stop there, but committing to purpose and executing internally and externally, you’ll have more opportunities to receive positive press coverage. Consider this – in 2021, there were about 1.9 million (non-press release) articles about cannabis. And the top topics were regulatory-based. Next came petty crime and manufacturing. If you had talking points on any of those in 2021, your media opportunities were much better. There is a finite amount of media coverage on any topic; strategic PR helps you cross over. Now consider the 6.8 million articles about the environment last year, the top 3 subcategories were climate change, energy, and decarbonization. Sustainable investing is in the top 10 as well. Imagine if your brand were to tie purpose into one of those top environmental topics, along with those top cannabis topics. Your media opportunities would increase by tenfold! Purpose-driven initiatives are but a single way cannabis PR can speed up your brand goals AND media coverage,
These are the topics the media ALSO covered when discussing the topic of the environment in 2021
These are the topics the media ALSO covered when discussing the topic of cannabis in 2021
Cannabis Business Goal: Product in More Retail Outlets
There just isn’t enough shelf space in dispensaries these days. And yet retails have a difficult time differentiating themselves, so a lot of dispensaries rely heavily on price discounts, which affects your cannabis CPG brand’s bottom line. Instead of getting into that rat race of product discounts, use PR to develop distinctive partnerships with your dispensary while at the same time helping the dispensary sell your product because of consistent PR coverage. Not only does PR open doors and differentiate your brand, but it also tells the dispensary that you’re committed to building a brand that will stay in demand. You can use PR to develop attention-getting budtender and community campaigns, too, that can accelerate your brand AND media coverage. There are so many ways PR can accelerate cannabis business goals with the brand-dispensary connection.
Not only that, but consistent PR coverage will really help to decrease the time it takes to secure a deal. Think about it-if you have room for 1 more brand and you have 10 to choose from, what’s top of mind? What will sell, of course. As it turns out, a lot of what makes a product attractive on the shelf also makes it attractive to the press. So don’t waste the branding and product development dollars invested – activate them with PR. Plus, retailers know, the only thing stronger than an independent endorsement is a referral from a friend, so make sure those budtenders see your PR coverage so they can include that information when they’re suggesting your brand, “ABC magazine just wrote about this last month – they loved it! It’s been flying off shelves!” that sounds like a great way to make your PR budget go further.
Cannabis Business Goal: Attract Top Talent
The struggle is real in 2022. There is a lot of change happening in the job market, including at the senior management level. According to the Harvard Business Review, while mid-career employees between 30-45 have the highest resignation rates, the age 45+ employees, also had higher resignation rates in 2021 than in 2020. 49% of U.S. executives reported a much higher turnover in 2021, according to the Society of Human Resource Management. The cannabis industry isn’t immune to these challenges. According to a recent mg magazine article, “The uptick in job openings has been observed at the top and bottom rungs of the industry, from hourly workers to executives, and it’s happening in every state with some form of legalization framework,” Recruiting and turn-over are expensive, regardless of the role. Cannabis PR can accelerate your recruiting goals AND media coverage
But brands can use PR to attract the highest talent. Returning to the topic above about how purpose plays a role, Deloitte reports purpose-driven brands have 40% higher workplace retention. Take that 40% reduction in turnover costs and add it to your PR budget. If your company is looking to attract top talent, but you don’t quite have the budget for the best and brightest, consider using PR to secure speaking engagements for your top-tier executives-ambitious people love opportunities that put them in the spotlight. But, you can’t promise what you don’t have – this is a long-term goal as speaking slots tend to fill up 6 or more months in advance. So if talent acquisition costs are eating into profitability, PR can help. Connect your talent recruiter and your PR agency together and let the magic work.
There are so many strategic ways to use PR to accomplish your business objectives. Working with your PR to accomplish business goals – and setting corresponding KPIs, sets the stage for the success you really want. Contact us today if you’d like to talk about your business objectives.
