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From celebrity endorsements to wellness-focused messaging, here are the marketing movements defining the future of cannabis.
An increasing rate of legalization across the globe is ushering in a boom for the cannabis category. The global legal cannabis market was valued at $17.8bn last year, and is projected to grow at a compound annual growth rate of more than 25% between now and 2030.
As players in the category enjoy greater market opportunities, they’re investing more money in advertising and marketing in efforts to combat stigmas, expand brand awareness and attract sales.
At Advertising Week New York today, cannabis industry leaders gathered to discuss how they’re approaching the challenges and opportunities of marketing today.
Here are five trends they highlighted:
1. Weed marketing meets entertainment
Outside of the regulatory and compliance challenges of marketing cannabis and hemp products, brands in the space often have to contend with strict platform rules. Spaces like Facebook and Instagram, which could in theory help brands reach target audiences effectively, are not friendly to the industry. Due to these and other challenges, many cannabis brands are finding value in teaming with celebrities and leaning into the entertainment and music spaces instead.
Weedmaps, an app that helps users discover dispensaries and delivery options near them in states where cannabis is legal, last year approached Wheelhouse Labs, an entertainment company created in partnership with Jimmy Kimmel that works like an agency. “They came to us because they were frustrated with traditional advertising not taking their content,” said Wheelhouse Labs’ managing director Patrick Schmidt.
The organizations worked together to develop a television show that tells the story of cannabis, featuring rapper Killer Mike and hip hop duo Run The Jewels. “We were able to tell some of the stories that Weedmaps was trying to get out there – like equal access to licenses and how…
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