The success of a business is all about building longevity with customers. Customers tend to gravitate towards familiarity and comfort; hence they often go to places or establishments that they already know. When you think of a certain product, you immediately know which product to buy because you have a trusted name or brand. Branding is important in business, and within the cannabis industry, it plays a significant role. Cannabis is ripe with potential hence knowing how to build brand identity in the cannabis industry is crucial for startup companies.
In this article, you will learn the importance of branding and certain tips and tricks that are effective in building your brand.
The Importance of Branding in the Cannabis Industry
Branding is almost synonymous with the name that you want for your company or business establishment; however, branding is also vastly different. It is all about the value you place on your business. The brand that you choose will stick with your business forever; hence choosing the branding is the key to your success or failure. By defining your brand and your values, you also attract like-minded individuals who could be your potential customers.
Creating a brand identity is key to the success of your business. It allows comfort and convenience to customers knowing that they will always have your brand to rely on. Familiarity is the key to opening up a business, sustain it, and attract more customers. This is why reviews and criticism towards a certain product or brand are very imperative to any business owner. A tarnished brand could mean doom to the business; hence protecting the brand is also essential.
Within the cannabis industry, consistency and quality are the names of the game. Cannabis is heavily affected by the quality of the product that you produce and sell. Consistent high-quality products will make or break your business within the cannabis industry. Knowing that you have good products would lead to discovery, and familiarity with the product would mean convenience to your customers. Consistency creates loyalty; thus, you establish a mutual cycle for you and your customers. This is how branding becomes the backbone of your business.
How to Build Brand Identity in the Cannabis Industry
Within the cannabis industry, certain restrictions are still in place due to the nature of the substance. This should provide businessmen and brand builders something to work on as the country slowly progresses towards a better approach when it comes to cannabis. In the meantime, here are some tips on how to effectively build your brand identity within the cannabis industry.
1. Let Your Values be Known
Modern brands need to stand for certain qualities that reflect the owner and the company’s culture and identity. While it does not immediately mean that you are a charitable organization or geared towards social responsibility, a highly intuitive and lovable brand makes everyone comfortable. Let your values be known to your customers, and they will have something to be excited about.
Additionally, be true to your words. This generation of buyers and consumers are very fickle. One menacing statement from your company alone would tear it all apart. Any out of character moments from your establishment could mean a breach of trust to your loyal customers. This can be easily avoided if you are simply true to the values that you hold. A lot of companies nowadays tend to gravitate towards a socially conscious narrative, but if it is all played up for the sake of enticing customers, then this is just a disaster waiting to happen.
Put your values front and center, and customers will just line up on your door. Be authentic with the words that you place on your brand and have the proper ethics to guide you when you consider important business decisions.
2. Specify the Benefits
With a wide variety of products ready to be consumed by your customers, you will always want to have an edge from your competition. Cannabis-infused products are highly marketable due to the known health benefits. As a business owner, you should always specify the benefits and highlight them all the time. It should be shown that cannabis has proven health benefits and that it is a well-studied substance that is known to have immense therapeutic value.
You can even gather enough attention by promoting your products through its health benefits alone. Health-conscious customers and potential buyers will likely research first on the products that you offer; hence providing accurate information also help with building their trust. Make sure to emphasize health benefits.
3. Experiment with Style and Design
Throughout the years, cannabis branding has always been associated with psychedelic colors, and marijuana leaves as the go-to design for products. Do not be afraid to experiment with the design and style of your brand. Look for minimalistic designs but have a deep meaning. A clean-cut design with a style that is very personal should bring your product to another level. Make sure that it also relates to your brand’s value as a whole.
This is a very tricky decision to make. It all boils down to what you want people to think when they see the logo of your product. Never be afraid to test the waters first and adapt as soon as you see the need to change the style and design.
4. Be Educational
Stigma is still an issue within and outside of the cannabis community. People are still fearful of what cannabis can do to the body, even with all the scientific data to back up your claims. Educating your audience is key to the success of your brand. By providing facts and allowing them to process this information, you also allow them time to think about your product. This sends a signal that you are willing to achieve a level of understanding to your audience, and you are ready to reach out. This allows them to think that you are an approachable brand, and you always seek harmony.
Be educational and avoid confrontational or even sarcastic tones. Be open to discussion with people or customers that may not have the same perspective as you. Make them feel welcome at all costs and be authentic with your vision. This will always result in a genuine conversation with your potential customer and allow a more positive environment within your establishment.
Building a brand within the cannabis industry is very challenging. As with any new venture, you are about to dive into the unknown. By learning how to build brand identity in the cannabis industry, you are assured that your business venture will stay afloat and even thrive within a challenging environment.