Starting a marijuana business is incredibly exciting. Releasing new products, promoting your brand, and making your first sale are incredible moments you should cherish.
However, you can also face some hurdles when first getting started. Most businesses experience growing pains as they work to build a stable customer base. That’s why it’s so important to find and appeal to your target customers when starting a marijuana business. Here’s what you need to know about the importance of a target audience and how to find your audience as a cannabis seller.
Why Finding Your Target Customer Is Critical for Marijuana Businesses
Your target customer is the person you want to appeal to when designing your marketing. Without a target customer, it’s hard to create marketing campaigns that actually help you make sales. As a marijuana business, you face lots of competition, so it’s essential to define your target audience from the beginning to stand out and get your business growing.
How To Find Your Target Audience
Defining your target audience is easier than you’d think. The trick is to describe your ideal customer based on those who already love your products.
Here’s how to find the perfect audience for your business, step by step:
- Define your demographics: In terms of a target audience, marijuana businesses need to focus on the right demographics. Describe the ages, genders, and locations of the marijuana users to whom you want to market your products. Millennials make up more than 40% of all marijuana users, so that’s a safe place to start.
- Describe their interests and values: People within the same demographic can value significantly different things. Narrow down your target audience even further by determining their interests. For example, young professionals often prioritize organic food, self-care, and sustainability.
- Consider their spending power: Marketing your products as luxuries doesn’t make much sense if you’re targeting a group with low spending power, such as college students. Define what you expect your target audience’s income and financial situation to be to find the best way to present your products to them.
- Outline their pain points: People buy things to solve their problems. A young professional may feel stressed and need a convenient way to relax at the end of the day. Figure out what bothers your target audience and how your products can fix their problems.
- Research who they trust: If you want to reach your target customers, you must know where they go for news and recreation. Research who your ideal customers follow on social media and what they care about so you can put your message where they’re the most likely to see it.
Target Your Audience More Effectively With Bespoke Financial
Once you’ve defined your target audience, marijuana financing can help keep your momentum going. After finding the right customer base, Bespoke Financial is here to help you meet demand. Whether you need a cannabis line of credit or short-term financing to grow your business, Bespoke Financial makes starting a marijuana business easier.
If you haven’t already defined your target audience, now is the time. Sit down and describe the people you want to sell your products to. Once you begin making sales, you can trust Bespoke to support your growing marijuana business.
