As more and more businesses of all kinds enter the cannabis market, competition is becoming fiercer, which means cannabis companies need to do more to attract and retain customers.
Differentiating your business is vital for standing out. It makes your brand more memorable, helps to foster trust, and allows you to build lasting relationships. It also plays a significant role in what makes people choose you over your competitors. Here, we’ll go over some strategies that can help.
Identify Your Audience
Part of standing out relies on aligning your brand and your marketing strategy with the people buying — or who you want to buy — your products. If you already have a customer base, look at who they are. If you’re a new business, consider the people you think would benefit most from your products or who would be most likely to purchase them.
Find Your UVP
A unique value proposition (UVP) shows your audience how you’re different from every other business in the industry. Determining yours will help you focus your messaging to more effectively reach and attract your audience.
To find your UVP, take a look at your company values. Do you support efforts to be more eco-friendly? Perhaps what sets you apart could be your focus on sourcing more sustainably grown cannabis.
Identify Your Strengths
Examine your competition and then your own business. What is it that you do really well? Do you have a top-notch customer service team that knows how to make your customers feel more connected with your brand? Are you an expert in one or more cannabis-related subjects? You can capitalize on those strengths to stand out.
Build a Brand Online
Using social media, you can connect with your customers — and prospective customers — and build your brand at the same time. The various platforms are perfect for sharing your recent blog posts, recent company news, product launches, and more. When you make a post, keep it consistent with your brand voice. Engage with the people who comment and ask questions. You can also encourage further engagement by posing questions or asking for feedback.
Develop Your Marketing Strategy
A marketing strategy is vital for spreading the word about your cannabis business, attracting customers, and setting yourself apart. You can use a variety of tactics, including:
- Search engine optimization (SEO)
- Content marketing
- Email marketing
- Social media marketing
- Partner with influencers (influencer marketing)
Get the Financing You Need To Differentiate Your Cannabis Business
Finding ways to differentiate yourself can help you successfully attract, retain, and grow your customer base. In turn, they can help you increase revenue.
If you don’t have the available cash flow, Bespoke Financial can help. With a variety of flexible cannabis financing solutions, we can help you secure the funds you need to achieve your goals.
Are you ready to get started? Visit Bespoke Financial today to apply.