Cannabis is a unique industry. It is still finding its footing in the larger American economy, but it is growing in popularity and interest. Inside the industry, there are two types of businesses: cannabis-handling and non-cannabis-handling businesses. Inside those two types of businesses, there are various segments of buyers and consumers that these businesses attempt to reach.
In today’s competitive market, a business is only as successful as its ability to define and connect with its target audience — otherwise, they’re going to go under. When you can accurately define your audience you see higher rates of conversion and ROI. Connecting the right products/services to the right consumers is the definition of “good business.”
What Goes Into a Cannabis Target Audience
There is a lot of variability between general shoppers, and even greater variability when it comes to cannabis consumption. A target audience is more than just a collection of individuals who want to buy what you produce or provide. Instead, a target audience is the end result of a specialized formula that filters what your most ideal or likely potential buyer would “look like.”
So what factors go into creating a target audience?
- Buying Habits
However, due to the nature of the product, additional elements should be identified to help widdle down your most likely cannabis consumers for your business. Additional factors to consider include:
- Cannabis Familiarity
- Perspective on Cannabis
- Desired Use for Cannabis
- Frequency of Cannabis Use
Building out these buyer personas will help identify your ideal target audience member, and in turn more than likely improve your ability to find leads and complete sales.
So How Do You Find These People?
Good question… Sometimes, finding a target audience is a little like a wild goose chase — it’s not easy. If you’re already an operating business, first look at your analytics. This information often tells more than meets the eye. Inside all this raw data and charts, you can often find tidbits of information that help determine your current customer base. Knowing your current customers is important for that fact that you shouldn’t alienate them in your future marketing. Even if they aren’t your ideal buyer, they are still supporters of your product/service — and shouldn’t be marginalized. However, it is common for your current audience to share similarities with desired target audience… making it important to note the traits of your current buyers.
One innovative idea is creating a variety of lead magnets for potential cannabis consumers. These lead magnets can address topics like “What Strain of Cannabis is Right for You?” or “The 20 Best Cannabis Edibles for Experienced Users” or “The Best Way to Consume Cannabis if You Struggle With Anxiety.” These exmples reach cannabis users across the spectrum, from beginners to medical users to experts. Additionally, these types of lead magnets have a large search volume behind them, meaning that you’re going to get some traction with this tactic. Just make sure the download form asks for the most pertinent information you wish to gain from cannabis consumers.
If you haven’t noticed yet, finding and sculpting a target audience, one specifically for the cannabis industry isn’t easy. It requires three things: research, research, research. One final tip on finding the right type of cannabis consumer is looking at your competitors or other cannabis businesses you admire. Examining their social media channels is a great starting place. Comb through their followers and who interacts with their content (especially the context of their engagement). This can help point out some key components to what their target audience looks like acts like, and consumes like. Happy researching!