Tag Archive for: cannabis public relations

3 Lessons Cannabis Tech Can Learn From Silicon Valley Failures

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Some have said that the fastest-growing sector in cannabis is cannabis technology. While cannabis technology companies often serve very specific regulatory needs and enter the marketplace in a tech-mature world (as opposed to those during the initial dot-com era), cannabis tech companies with hyper-growth ambitions can learn from the tech company failures of the past.

Think Ahead, But Not Too Far

Many emerging industry companies have gone bust because they were simply too progressive. From the dot-com era, WebVan and Kozmo were two delivery companies with considerable capital that both went bust, only to see companies like Amazon eventually optimize the services they both introduced. Not every first mover gets first-mover advantage. There’s a lot to be said for meeting the customer or client where they’re at.

But moving people ahead is completely possible. Cannabis tech companies can think through the future of their business by planning past a regulatory world and creating brand loyalty well before any necessary pivots.

Setting an agenda to change the narrative and create demand is a long-term play, but consumers DO change behaviors and in the wake of COVID, there is still an opportunity to maximize the massive mind-shift happening. Cannabis itself is an outstanding example of changing the narrative. In fact, changing the narrative is an excellent competitive strategy and a way to differentiate yourself.

How Cannabis Tech Can Prepare for Bigger and Better Funded

As cannabis becomes a bigger part of the economy in more states, there will be more entrances into the marketplace.

Cannabis tech only has to look at what happened to the CBD space after the Farm Act passed to see a more recent cannabis example of this. From a tech perspective, a good example of this is the Pebble Smart Watch, which raised $10.3 million on Kickstarter (the most successful Kickstarter ever at the time). But of course, they struggled to compete with competitors like Apple Watch.

B2B cannabis tech companies are vulnerable to this as Silicon Valley continues to double down on cannabis tech from companies and founders with no experience in cannabis, but more funding. Dutchie is an example of this. Dutchie’s model is less cannabis and more tech as they model their services to something more akin to GrubHub. Silicon Valley likes companies that reinvent proven scale models.

Cannabis tech companies, whether they serve B2B or B2C should leverage both advertising and PR, together to secure market share AND trust simultaneously. Align your cannabis advertising and PR campaigns and messaging. Don’t isolate your advertising data from PR. Together they can be stronger. Branding dominance and brand value is the way to secure marketplace valuation; had Pebble done that, they would have stood a better chance of survival or at the very least gotten closer to the original offer of $740 million (which they got in 2015), as opposed to the sell to Fitbit for less than $40 million in 2016.

Cannabis technology companies should also be prepared to tell stories that aren’t technology-oriented. Whether those be founder stories, or purpose, there is also more to talk about, so prepare yourself and get those corporate stories in place.

And when there are lulls in cannabis tech VC funding, that’s a great time to prepare for the future and focus your energies on the most important initiatives to help you stand out when the funding cycle returns.

Watch Consumer Tech Trends

Media consumption on the biggest social media platforms may well have peaked already. 2021 was the first year Facebook reported a decline in users. So what’s happening to those consumers? They certainly haven’t left the internet, they’ve simply shifted platforms.

Consumer communication with a cannabis niche or cannabis advertising platforms can learn so many lessons from the failures of social media platforms, in particular Facebook. These platforms need to evaluable the trust equation and invest in it immediately. Whether the customer is B2B or B2C, there is a broader techlash going on.

Leveraging the trust of third-party media outlets is imperative now. And unlike plant-touching brands, cannabis tech companies have a wide-open playing field about the media outlets who will write about them. We always say that “trust is an inside out job,” and that means PR can only clean up so much if you’re abusing trust; if you’re the Theanos of cannabis tech, PR won’t be your biggest spend.

 

Cannabis tech is sure to be a competitive and thriving sector with massive ups and downs, but those who reach hyper-growth will have taken a page out of the successes and failures of past Silicon Valley darlings.  Check out our PR Case Studies and Results for more ideas about how to stand out in cannabis tech.

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9 Reasons Every Cannabis Company Needs PR

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Public relations isn’t new, but cannabis PR hasn’t been around very long, relative to PR. You’ve probably heard that PR is an excellent investment in your company, particularly because of limited advertising options. But maybe you’re still wondering what you should expect from cannabis PR.

Here are 9 reasons every cannabis company should invest in cannabis PR. 

  1. Great content inspires trust, creates credibility, and increases brand value. 
    There is no greater content than an unpaid third party. Cannabis consumers today are hip to the fact that influencers, affiliates, and advertising are all getting paid to say what you want them to say. But journalists remain independent and adhere to a code of ethics and that’s exactly what makes their content so trusted and valuable.
  2. Allows a company to own its own story.
    Cannabis companies who fail to invest in cannabis PR are basically allowing everyone else, from media to competitors to customers, to create your brand story. Why not author your own brand’s story? That’s what PR allows you to do.

    “PR is not something a CEO can do herself.  PR is a highly specialized vertical with a distinctive set of talents, relationships and experience, plus, it takes an exceptional amount of time away from running the company. An agency allows CEOs to get back to their highest and best use of time. – Tara Coomans, CEO, Avaans Media 

  3. Cannabis PR outlasts advertising and social media.
    Unlike advertising which turns off the minute you finish paying, PR sticks around indefinitely. We’ve placed pieces which continued to drive traffic and conversation 3-4 years later. What advertising or social media has that kind of longevity?
  4. Amplify and maximize your cannabis message.
    A strong cannabis PR program typically involves media relations. Media relations means your PR team is working with journalists who are interested in the verticals your brand best fits into. For example, if you’re a cannabis beauty brand, you’ll have stories you want to tell to each vertical.
  5. Building community capital. 
    As we’ve discussed previously, crisis and downturns happen. Having relationships in the media is particularly important when you need support. An ongoing media relations campaign provides trust both with journalists and the public which you can put in the bank and earn interest on for a rainy day. Plus, if you have a crisis, which is all too common in the cannabis industry, then you having a PR firm on retainer could save you hundreds of thousands of dollars in brand value, wasted time, and crisis PR fees. A PR agency you’re already working with knows you best, and knows how to handle your crisis in a brand consistent way.

    “When we discuss the value of PR, we often forget about the sales, M&A and partnerships that come more easily because PR drives trust and shortens the sales cycle,” – Tara Coomans, CEO Avaans Media 

  6. Compliments sales efforts. 
    Ask any salesperson, distributor, or business development executive what happens when they can reference a piece in major industry or national publications. Suddenly, people start paying attention. Adding your coverage on your website, sales materials, and other external communications amplify your cannabis PR.
  7. Creates an opportunity to consider your cannabis company’s impact.
    Ongoing PR makes a company and it’s stakeholders consistently aware of its impact on people. This is important because it’s those same people who have perceptions that shape the company’s values and builds (or damages) its reputation.
  8. PR IS content. Content is a big buzzword today, but PR has always been about content, the only thing that’s changed is that there are more avenues to share content. That’s why so many cannabis PR firms also offer social media and/or event marketing services. PR’s perspective provides a well-rounded point of view that makes content more accessible, shareable, and timely.
  9. Enhances digital efforts like SEO. 
    Online earned media is usually chock full of relevant keywords and known publications have strong SEO signals. Consistent media placement helps with organic search results and the best part is, the efforts pay increasing dividends over time.If you’re ready to invest in PR to get all these benefits and more, why not find out more about whether you’re a good fit for Primo PR’s services? 
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4 Trends for Marketing and PR During a Recession

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Marketing and PR during a recession? Who does that? Well, the answer may surprise you: brands that grow the fastest. Why? Studies who brands that market during recessions gain additional advantages because it’s less noisy and easier to be seen and heard. Make your marketing and PR budget go further by tapping into these consumer trends.

Consumer Brands: Remember the Lipstick Effect

Coined by Leonard Lauder in 2001, the term “lipstick effect” when he observed that lipstick sales are inversely correlated to economic health. Why? Because consumers still want to treat themselves and small indulgences fit the bill, even during economic downturns. Luxury lifestyle brands do this with their perfume and makeup offerings. Yes, $69 for Hermes lipstick is a lot for lipstick, but for the Hermes customer or aspirational customer, $69 is an easy purchase compared to a $6,000 purse. Consumer PR and marketing during a recession can help you gain market share and grow when you offer your customers a way to sport your brand without making a gigantic purchase.

What’s your brand’s “lipstick”? What is the product that makes customers feel like they’re treating themselves without large expenditure? 

Find the Fun with Your Customers

What did the post-pandemic consumer teach us? They want fun and frivolity in the pandemic’s wake – and they STILL want that, perhaps even more, with all the gloomy news about a recession. While you, as a CEO, or CMO, might feel doubly beat up, it’s really up to you to bring the fun. From marketing to PR, if you give consumers something fun to talk about or a sense of escapism, consumers will find a way to your party, because they really want to have fun. So while you may be cutting your marketing or PR budget, make sure the things you keep are fun-filled. Not only will this improve your bottom line, it will attach fun to your consumer’s experience of your brand, which means they’ll associate you with fun after the recession too.

What’s your customer’s ideal way to escape? Find them and play with them there. 

Make Lasting Memories with Nostalgia

When uncertainty strikes, consumers love to “remember when.” Whether it’s nostalgia-based packaging or scents to connections to movies and songs, yesterday always brings comfort to consumers. If you’re a legacy brand with long-time customers, then you should absolutely take this opportunity to remind your customers of the good ole days you had together. If you’re a new brand and you don’t have that depth, you can trigger fond memories through partnerships and advertising.

What era makes your customers nostalgic?

Avoid Deep Discounts that Train Customers

If you train your customers to wait until the next sale, they will never buy if there isn’t one, whether or not there is a recession. Resist the urge to devalue your own brand right now. Not only do price discounts squeeze your margins during a time when you can least afford them, constant discounting feels desperate. Desperation is never a great look, especially for luxury brands. To maintain brand and positioning, the beloved cupcake brand Sprinkles resisted the urge to discount during the pandemic:

“Customers had been taught by other bakeries to expect that the product at the end of the day was worth less than at the beginning. But with our just-in-time baking system, these cupcakes were as fresh as their morning relatives. Even then, as tempting as it was to sell off those last few cupcakes at a discount right before closing, I knew we had to stand firmly behind the price. I preferred to donate those cupcakes than to eat into the value of our brand.” -Candace Nelson, founder.

The better option is to carve out a single day (or two) that your brand will offer value pricing, and when you do, look for ways to add value to your current price rather than discounting the product itself. You could offer a gift with purchase or a VIP experience.

Budget planning for marketing and PR during a recession feels less fun than when budgets are flush, but the reality is, you can make major headway during a recession AND you can enjoy the process and the output just as much if not more.

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Why Should Psychedelic Companies Invest in PR Now?

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If the legalization of marijuana in a growing number of states has taught us anything, there will likely be an emerging market for other products like psychedelics, as interest grows in their recreational and medicinal benefits. The stigma around using psychedelics, while still present, is starting to shift. The potentially beneficial and pharmaceutical uses for magic mushrooms and other substances are increasingly evident, and the market will likely follow.

Some estimates indicate that the market for psychedelic drugs could grow into a $6.9 billion industry by the year 2027. As psychedelics continue to gain mainstream acceptance, psychedelic companies are still in their marketing and PR infancy. Getting in on the ground floor means investing in a PR campaign today that could solidify your status as a psychedelic authority and leader in the industry in the future as it grows.

The psychedelic industry is a sophisticated enterprise that still suffers from stereotypes and misinformation. It’s much more than mushrooms, black lights, and velvet posters. A strategic PR campaign can help transform this image. It can also lend credibility to what should be considered the next big untapped drug market brimming with potential. As companies continue to grow and gain access to more capital, the opportunity for an IPO, or initial public offering, emerges. A strategic PR campaign can help push these companies into the big leagues.

Why Do Psychedelic Companies Need to Think About PR Now?

The legalization of marijuana has spurred new ways of thinking about old drugs. Psychedelics are getting a fresh look from both the public and private sectors. Researchers are uncovering promising data about the potential for these drugs to treat mental disorders such as depression, PTSD, and anxiety. With greater mainstream acceptance comes more pressure on government entities to decriminalize psychedelics and cannabis, both on state and federal levels.

The best time for psychedelic companies to capitalize on changing consumer sentiment is right now. Much of the emerging psychedelic industry is still in its infancy. When a substance is still considered illegal in much of the country, a stigma will obviously exist. The status of mushrooms and some psychedelics as Schedule 1 drugs also create major hurdles for companies when it comes to marketing. Changing the tide of both patient and political bias needs to happen now.

A strategic PR campaign can aid psychedelic companies in normalizing the conversation about psychedelics and help establish them as respected industry leaders. Changing the narrative on psychedelics doesn’t happen overnight. It takes a concerted effort to get the attention of policymakers and patients alike. PR professionals are uniquely positioned to help psychedelic companies leverage media coverage for a positive effect.

What is PR?

PR professionals specialize in helping companies get free media placement. Free media is media that does not require the company to pay for its distribution. Examples of this type of media include local news outlets, national news outlets, magazines, newspapers, and websites.

PR agencies tend to employ former journalists who have extensive contacts in the media industry. These professionals also know what it takes to pitch a story and what outlets are looking for in the source material.

What Can PR Do for Companies in the Psychedelic Industry?

The possibilities are almost limitless when it comes to what PR can do for the psychedelic industry. PR is a valuable tool in helping change the narrative about psychedelics. A PR agency can help a business craft a compelling and strategic messaged aimed at consumers or policymakers. The firm can then take that message to media sources for potential coverage. These outlets can distribute the story and help boost a company’s brand recognition within the psychedelic industry. Since this media coverage is not paid for, like commercials and ads, it also helps increase a company’s credibility.

Media coverage can also help shape future policies. It is essential to steer the conversation about psychedelics away from the negative and stigmatic image of drugs and towards more beneficial and informative coverage. Experienced PR agencies are experts at communicating. They understand crisis management and how to take potentially negative information and transform it into teaching moments. Although the conversation about marijuana and psychedelics is evolving, there is still work to be done when it comes to helping the industry shed problematic stereotypes.

It is also crucial to note that while change may seem slow to come, the needle is moving in a more accepting direction. It is easier to establish yourself as a reputable psychedelic company now and get in on the ground floor than it is to claw your way to the top of a crowded marketplace. Getting involved with a PR firm early gives you a head start when it comes to brand recognition, building credibility in the industry, and developing a loyal following and potential customer base. Your company can emerge as an industry leader just as other companies are attempting to jump on the bandwagon. Investing in PR today is investing in the future reputation of your business.

If these factors aren’t enough, consider what else a reputable PR firm can do for you:

  • Craft a brand story
  • Help establish you as a psychedelic industry leader
  • Generate visibility and brand recognition
  • Pitch stories that can help influence the public and policymakers
  • Help change the narrative surrounding psychedelic drugs
  • Target your key audience
  • Build brand loyalty
  • Build community relationships

Good public relations teams don’t sit back and wait for you to have news. They help strategize ways to make news. PR should not be passive. PR should be proactive in any market and help companies make their mark and shape the industry. A company’s needs for positive PR in the psychedelic industry are no different.

Whether you are a public or private psychedelic company, now is the time to start thinking about your image. With the help of an experienced PR team, you have the power to build your brand and mold the future of the psychedelic industry. The psychedelic business could quickly become the next big industry to experience hyper-growth. Getting started with PR early means you will have a strategic advantage over the competitors that wait to enter the market.

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Will Weed Conventions in the Cannabis Industry Continue to Be Important for the Future of Legalization?

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As the cannabis industry grows, so does the need for conventions and conferences that focus on weed. These events provide a valuable opportunity for businesses in the cannabis industry to network and share information with one another. They are also a great place for consumers to learn about new products and strains. 

What to Expect at a Weed Convention

You will find cannabis professionals take their industry very seriously; you will find people dressed as you would any other professional industry. This isn’t just because weed consumption isn’t legal in most cannabis industry convention centers, but it’s also that cannabis is serious business. Millions of dollars of investment are flowing into cannabis and these investors expect a buttoned-up and professional organization.

Weed conventions have already become an important part of the cannabis industry. In just a few years, they have grown from small, regional events to large national conventions. The most well-known weed convention is the Cannabis Cup, which is held each year to celebrate the best in cannabis. The Cannabis Cup is a global event in multiple cities and multiple companies. 

Why Professionals Go to Cannabis Industry Tradeshows

Weed conventions offer a variety of educational sessions and panel discussions. Attendees can learn about everything from growing and harvesting cannabis to marketing and branding products. There are also often exhibits where businesses can showcase their products and services.

Cannabis has a long history of handshake deals and in-person business because it has operated in grey areas for so long because of federal regulations. Weed conventions offer an opportunity for businesses to network with each other. They provide a forum where companies can share information about the latest trends in the cannabis industry and learn from each other’s experiences. Attendees can talk to exhibitors and learn about the different cannabis products available, from strains to format, there is always something new at a weed convention. They can also learn about the various ways that cannabis can be used, such as for medical purposes or recreational enjoyment.

Conferences are also a great place for cannabis journalists and cannabis influencers to gather.

Weed conventions are an important part of the cannabis industry and offer a valuable opportunity for businesses and consumers to learn about new products and trends. They provide a forum where businesses can share information and learn from each other’s experiences, and they are a great place for consumers to learn about new products and strains. As the cannabis industry continues to grow, weed conventions will become even more important.

Weed conventions are an important part of the growing cannabis industry. 

If you’re a cannabis business looking for top-rated cannabis PR, please visit our cannabis insights page. 

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11 Twitter Accounts Every Cannabis CEO Should Follow

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Cannabis CEOs have challenging jobs. You’re in the fast-moving cannabis business, so you’re also in the business of understanding trends and our industry. For that reason, we put together a shortlist of our favorite cannabis Twitter accounts, tailored for the time-constrained cannabis CEO and C-suite.

Twitter is an extremely useful listening tool, so we’ve curated the list intentionally for listening and we did throw in a few personal favorites as well because even cannabis CEOs need a breather now and then.  But overall, the list we’ve put together is highly curated and designed to give you what you need at the moment without overwhelming executives with chatter and nonsense. Hey, we love the nonsense too, but the point of a Twitter list is to create a curated experience and that’s what we’ve done.

We love Twitter because it’s such a great place to glean insights. We’ve already written about how we utilize Twitter for media relations. While we certainly use Twitter to engage our entire community, we do much more listening on Twitter than we do posting – and that’s intentional. With that perspective in mind, when we developed this Twitter List for cannabis CEOs, we thought about the Twitter uses who stay on topic, talk business, and keep chaos to a minimum. At it’s best, Twitter is a feed of quick snippets of insight, and we think these Twitter feeds embody that perspective.

Make things easy on yourself by subscribing to our Twitter list. In no particular order, here are our inclusions for 2020. 

 

Cannabis Journalists & News Twitter Accounts


Jeremy Berke @jberke
One of the first national business writers to cover the cannabis space from Business Insider, Jeremy’s feed is straightforward and no bull. From his Twitter profile, you can also subscribe to his weekly email newsletter which is a must-read of the week’s news.

Alan Brochstein, CFO @invest420
If industry analysis is what you crave, Alan Brochstein and his site, New Cannabis Ventures are on it. As the industry has changed, so has NCV. Today the NCV focuses mostly on cannabis’ publically traded businesses. But since so many of the industry cues and trends start there, it’s a great feed to watch. Alan’s distinct mix of business trends and insights are unbeatable. From his Twitter, you can also subscribe to his weekly newsletter, which is filled with investor insight and cannabis industry predictions. 

David George-Cosh @itsdgc
David primarily covers Canada’s legal cannabis market, which means he covers some of the world’s largest publically traded cannabis companies. Hailing from the Wall Street Journal, David gets to the heart of the matter with pertinent business issues from unionization to M&A.

AxisWire @axiswire
AxisWire is a newswire dedicated to the cannabis industry. It’s an easy to digest spot to catch up on the industry, by zeroing in on the latest press releases, from product announcements to industry events, it’s a good at-a-glance feed. 

WeedWeek @Weedweeknews
Hosted by Alex Halperin, a long-time cannabis journalist and Donny Alexander of public radio and ESPN, these two have a knack for being early adopters to industry trends, with a keen eye on what it means to consumers. Cannabis CEO and C-Suite executives will enjoy the thoughtful, no-drama approach of Halperin and Alexander while benefitting from their insightful guests. 

Cannabis Business & Thought Leader Twitter Accounts

By sparking your imagination, but these accounts are must-follows for cannabis industry CEOs for their broad perspectives on the overall health of the industry.

 

Andrew DeAngelo @Andrew_DeAngelo
Andrew might not be as well known as his brother, Steve, but these days he’s coming out from behind his operational role at the pioneering Oakland-based dispensary, Harborside, and sharing his opinions with his distinct rebellious flourish. Andrew’s thought-provoking perspective is cannabis industry-focused, with an emphasis on California and its regulatory environment. 

Emily Paxhia @empax1
As a woman in the VC world, Emily is already a notable follow, but as a cannabis VC, watching Emily’s tweets is interesting insight into the headspace of a cannabis VC. As co-founder of Poseidon Asset Management, Emily has been an active investor since 2014. Poseidon has invested in Pax, Juul and Canopy Growth. On Twitter, she’s a positive advocate for the industry, while maintaining a 360-degree view on the cannabis industry’s trends and future, including international expansion and legalization. 

Vangst @vangsttalent 
It’s always interesting to see who is hiring for what. Great CEOs can read between the lines when they see their competitors hiring – or not. Take a gander at the jobs posted and you’ll see a list of who’s growing and who isn’t. 

Cannabis Advocacy & Industry Twitter Accounts

We’ve come a long way, but we’re not finished. Both THC and CBD leaders should keep a close on the announcements from these accounts.

 

Norml @norml
From research to legislative initiatives, NORML is the OG of cannabis advocacy and consumer accessibility.  NORML’s Twitter feed is highly curated and includes information from state chapters too. A quick glance will get you immediately up to speed on today’s THC-related news. 

US Hemp Roundtable @HempRoundtable
The US Hemp Roundtable was formed to take a proactive role in hemp normalization and legislation. Many in the hemp industry credit the 2018 Farm Act to the US Hemp Roundtable. If you’re in the business of CBD or hemp, you’ve got to keep your eye on these tweets. 

National Cannabis Industry Association @NCIAorg 
As a cannabis industry representative at the federal legislative level, NCIA has a national presence and state chapters. The feed is filled with legislative updates affecting cannabis business owners as well as events, podcasts and blog posts written by the industry’s leading thought leaders.

Minority Cannabis @MinCannBusAssoc
If you’re looking for an inclusive perspective, and eh-em, you should be, then look no further than Minority Cannabis who share their perspectives and the latest diversity and inclusion news specific to the cannabis industry. As this movement continues within cannabis, this Twitter feed provides considerations and insights CEOs find helpful when developing diversity and inclusion policies and procedures. 

 

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