At the recent Benzinga Cannabis Capital Conference in Chicago, a panel of industry experts took the stage to explore the potential of local cannabis brands.
They delved into key themes such as community engagement, the challenge of scaling while preserving authenticity and the need for adaptability in diverse regional markets.
Local vs. Bigger Brands
Panelists Tabasuri Moses CEO and founder of GreenSoul Organics, Tiffany Woodman CEO and founder of Canna Bella Lux and Shoran Williams CRO of Tend.Harvest.Cultivate, joined moderator Ellen Mellody, SVP at KCSA. The group tackled a pressing question: can local businesses truly outperform their larger counterparts in connecting with consumers while staying true to their essence?
The panelists emphasized the role of local businesses and their potential for more effective consumer engagement. They underscored the need to adapt strategies to specific regions, recognizing that one-size-fits-all approaches may not work.
They also highlighted the importance of connecting with local communities to maintain authenticity. Understanding the diverse consumer base and forming strong community relationships and partnerships were viewed as crucial for the success of larger brands in local markets.
Balancing Scale And Authenticity: Connecting With Communities
The panelists stressed the importance of maintaining a brand’s core values and identity while expanding into new markets, underlining the need for consistent messaging and approach.
They debunked the idea of applying the Apple store model to cannabis retail, citing significant differences in consumer behavior, and recommended staying authentic and adapting to local audience needs.
Regional factors, like climate and lifestyle, were identified as influencers of consumer behavior and cannabis consumption. Brands were urged to adjust marketing and products to match local demographics and culture.
They emphasized engaging in real, community-oriented activities, rather than conforming to stereotypes, engaging in festivals and pop-ups, to reshape perceptions about cannabis.
Advice To Aspiring Brands
The panel offered valuable advice to aspiring brands. They stressed the need to be different, data-driven and scalable while remaining accountable for financial decisions.
Photo by Deon Black on Unsplash.
Image and article originally from www.benzinga.com. Read the original article here.