Cannabis Advertising in an Increasingly Crowded Market
How to use marketing to help your cannabis business grow The United States’ legal cannabis and CBD industry are among the fastest-growing in the country. According to data released by ArcView Market Research and BDS Analytics, the legal cannabis industry has grown from $3.4 billion in 2014 to $10.9 billion in 2018. The report also projects continued industry growth, estimating it will hit $40 billion by 2024. While this explosive growth is a boon for the industry, it also represents a challenge for brands to face. As more companies enter the market, how does one differentiate? How can a brand make their products stand out on dispensary shelves stocked with countless similarly priced, similarly labelled products? One way to achieve this is with advertising. Advertising and marketing are vitally important to building a cannabis or CBD brand. It lets brands stake out a position in a crowded marketplace. It empowers them to start relationships with potential consumers — and