People, firms, brands and stories.
Branding is often a journey of self-discovery, and the journey has many paths, pitfalls, and traps to navigate. Without a doubt, good strategic marketing gives a company an edge over competing brands in an increasingly crowded market.
Over the past year, the cannabis industry has become an intense race to brand, in every creative way possible. From hiring advertising and public relations firms that work with the world’s biggest companies to out-of-the-box experiential product launches, brand ambassadors, and product placement in music videos, the age of cannabis branding is in full bloom. However, some companies still don’t see the long-term marketing value of the hullaballoo.
“I’ve heard many cannabis entrepreneurs say they don’t need to worry about branding or marketing because cannabis sells itself,” said Jennifer Culpepper, founder and creative director of BrandJoint. “That may be true if you’re the only one providing it, but this is a crowded market, and consumers expect value for their dollar. Questions I ask my clients are, ‘What is your superpower?’ or ‘What is your unfair advantage?’”
The biggest mistake they make?
“Failing to understand what it means to brand their company,” noted Culpepper. “Many people think of branding as designing a cool logo and making a website that looks nice. However, successful branding is far more strategic. It’s understanding the details of the business, the vision of its founders, what fuels the passion behind that vision, and how that business is beneficial to consumers.