These Strategies Will Get More Customers To Your Dispensary

From loyalty programs to regularly messaging customers, building a community and increasing sales takes strategy. November 13, 2019 7 min read This story originally appeared on Weedmaps It goes without saying that you want to get as many new customers into your dispensary as possible. But with the cannabis retail space becoming more and more competitive every day, you can’t just expect a flood of new customers to rush in the second you open your doors. You need the right marketing strategy to break through the clutter, grab your ideal customers’ attention, and drive new business for your dispensary.  “Marketing is a vehicle for [consumers] to get familiar with the brand, the company, the dispensary and what they’re about,” said David Hua, CEO and co-founder of Meadow, a software company that creates point-of-sale (POS) solutions for cannabis dispensaries. “Now’s the time to … use marketing to create an identity around your […]

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5 Proven Strategies to Quickly Launch Your B2B Product (and Scale Things Even Faster)

Launching a B2B product is no small task; fortunately, there are a few proven ways to expedite the undertaking. October 16, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. After months of development and platform changes on Facebook, Twitter, and LinkedIn, our company is finally preparing to launch a social lead generation tool called LeadFamous. Having consulted with dozens of popular and successful SaaS companies over the years, I’ve discovered it can be quite challenging to successfully launch a software product in today’s hyper-competitive digital landscape. As both media and tech evolve, it’s simply not enough to market your product via one or two channels, like Facebook Ads or Google Ads — especially if it’s a bootstrapped startup. If you want to get traction early, you need to have an orchestrated plan of attack that includes outreach, social media engagement, and a public relations (PR) strategy […]

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Efforts Intensify To Battle Corruption Involving Local Government Officials And Cannabis Industry

States are taking action against government officials involved in bribery and extortion. October 16, 2019 6 min read This story originally appeared on MJBizDaily Law enforcement authorities across the country, including the FBI, have cast a wide net in their efforts to root out corruption among local government officials overseeing the marijuana industry. The crackdown has ensnared local government and cannabis industry officials in states such as California, Massachusetts and Michigan. Charges have included bribery and extortion. While claims of licensing bias and flawed scoring are more common, an examination of the landscape suggests that there have been a number of blatant efforts over the years to improperly influence public officials into awarding highly coveted marijuana licenses. Such corruption, combined with flawed and biased licensing, undermines the process, hurting the opportunities for businesses that play by the rules, industry experts warn. RELATED: More States Have Made Marijuana Legal, So Why Are […]

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How Cannabis Brands Can Capture Attention With Custom Packaging

In the crowded (and booming) cannabis market, knowing how to develop a powerful brand identity is critical. October 15, 2019 4 min read This story originally appeared on Cannabis & Tech Today There’s no denying that marijuana is a booming market. After Colorado legalized marijuana in 2014, 147 recreational dispensaries opened in the state that year — a number that grew to 509 by 2018. Six other states have since legalized recreational marijuana. In a word, business is booming. Within an industry facing such unprecedented growth, cannabis brands are met with big challenges when it comes to differentiation. Hundreds of new brands launch every year. High-profile personalities like comedian Tommy Chong and former boxer Mike Tyson are getting in on the game. Competition is fierce, and many companies are faced with the unique challenge of working to develop a trustworthy and recognizable brand while adhering to stringent state rules. Chief among […]

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8 Must-Have Cannabis Products For Tech-Minded Weed Consumers

As marijuana and tech merge, these are the products that pique the interest of techies everywhere. October 14, 2019 8 min read This story originally appeared on Weedmaps Let’s face it, in one way or another, technological advancements have altered nearly every facet of our lives — and smoking weed is certainly no exception. In fact, as ongoing legalization efforts have birthed a rigorous and dynamic market, tech-savvy companies are developing innovative products that provide people with new ways to get stoned or seek therapeutic relief.  There are, of course, those who prefer the traditional consumption methods — hand-rolled joints, bongs, one-hitters, among many other tools of classic stoner culture. But some are venturing outside of the norm, seeking out more exciting, more potent, and more convenient approaches to using cannabis.  Here are eight tech-minded weed products that have caught the cannabis community’s collective eye. OTTO OTTO by Banana Brothers makes […]

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A Chat With Kadenwood Brands CEO Erick Dickens

After a successful run in marketing and brand management at spots like Kraft Foods, Erick Dickens is reshaping the CBD industry. October 11, 2019 5 min read This story originally appeared on Benzinga The booming U.S. CBD market is estimated to exceed $20 billion by 2024, according to BDS Analytics — a substantial jump from $1.9 billion in 2018.  As  CBD becomes mainstream, companies operating in the space are establishing themselves in a new environment and are not just competing among themselves, but also with larger and older conglomerates in the industries that CBD has recently penetrated. One way that CBD businesses are adapting to the market growth is by hiring top talent from successful companies in other industries. Benzinga recently sat down with Erick Dickens, the co-founder and CEO of Kadenwood Brands, who prior to CBD had a successful marketing and brand management career at a number of companies, including Kraft Foods. RELATED: 9 Cutting-Edge Marijuana […]

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Mexican Lawmakers To Vote On Pot Legalization By End Of October

Ricardo Monreal, the Senate leader of Mexico’s ruling party MORENA, hopes to make marijuana legal for recreational use. October 8, 2019 2 min read This story originally appeared on Benzinga Ricardo Monreal, the Senate leader of Mexico’s ruling party MORENA, said lawmakers will vote on a bill to legalize adult-use marijuana by the end of October, according to Marijuana Moment. “We’re thinking that we’ll bring the law out, approve it, at the end of October,” Monreal said. “That’s the schedule we have.” The chamber is almost finished with creating a new reform bill that is based on open-session debates and public forums, and the Chamber of Deputies will be invited to weigh in on the bill, Marijuana Moment reported.  RELATED: 8 Must-Have Apps For Cannabis Entrepreneurs Mexico’s Supreme Court has ruled five times that the country’s ban on recreational cannabis is unconstitutional. Mexican law states that when the court rules in the same direction five times, it […]

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Marijuana Vape Sales Rebounding In Some Key Markets (For Now)

The vape market is taking a hit in the media, but sales aren’t totally being impacted negatively just yet. October 8, 2019 4 min read This story originally appeared on MJBizDaily Vape sales appear to be stabilizing in most major recreational cannabis markets in the United States in the wake of the vaping health crisis, but with more bans and sales restrictions on the horizon the rebound could prove short-lived. After several weeks of declines, vape’s share of adult-use cannabis sales in California, Nevada and Washington state is beginning to slowly tick back up, according to Headset, a Seattle-based provider of data and analytics to the cannabis industry. Vape’s share of the recreational cannabis market in California fell for four consecutive weeks, from 30.5% the week of August 19 to 24.3% by the week of September 16. But the latest week’s worth of data shows vape’s market share in the state up […]

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Vape Pens Are Great, But Are They Right For You?

Vaping has been in the news a lot lately, but, regardless of the future of the product, is it even something worth trying? October 7, 2019 7 min read This story originally appeared on Weedmaps When vaporization first caught the attention of cannabis consumers in the late 1990s, stoners would gather around the Volcano, a stationary device that heats cannabis flower and sends vapors into a detachable balloon that once filled, could be passed around the sesh circle. And as cannabis culture has changed through the spread of legalization and technology, vaporization and vaporizers have also changed along with it. Judging by the immense popularity of filled cartridges, the most widely used vaporizer type at the moment is the vape pen. A simple combination consisting of a battery and cannabis oil cartridge, vape pens and cartridges have taken the cannabis concentrate market by storm. And while vape pens are extremely convenient for the modern cannabis […]

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How State Cannabis Regulatory Agencies Across The U.S. Have Responded To The Vaping Health Crisis

Most agencies are waiting for more info when it comes to the cause of health problems related to vaping. October 4, 2019 6 min read This story originally appeared on MJBizDaily State regulators overseeing the legal marijuana industry are adopting a wait-and-see stance as the industry determines what exactly is causing the health problems related to vaping, although California has come down more decisively against vaping of all forms. For the most part, regulators in more than a half dozen states are reacting cautiously while public health officials work to identify the cause triggering hundreds of illnesses and seven deaths connected to e-cigarettes and marijuana vaping devices, in both the legal and illegal markets. RELATED: How Vape Manufacturers Are Striking Back Against Counterfeits More Public Education Needed Max Simon, CEO of Ventura, California-based cannabis educational platform Green Flower Media, said the cannabis industry and state marijuana regulators need to unify behind a […]

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Building A Financial Plan For Your Cannabis Business? What You Need to Know

Before launching your business, make sure to know the do’s and don’ts to set yourself up for success. October 2, 2019 3 min read This story originally appeared on Cannabis & Tech Today All good business plans require a financial projection. Creating a financial projection is both an art and science. A financial projection will include projected sales, budgeted expenses, a balance sheet, cash flow, and sources and uses of funds. Also, a financial projection will help determine how much funding will be needed and the projected return on the investment (ROI). For most cannabis and hemp/CBD operators, the problem in creating a financial projection is they don’t have any historical data or industry benchmarks. If we were assisting a chemical manufacturer or construction company prepare a financial projection, we could obtain benchmark financial information from third party providers. Unfortunately, these third-party providers do not have any historical data on […]

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CDC Reports Majority Of Vape-Related Illnesses Have Come From Illicit Market Devices

A new report from the CDC shows how unregulated markets may be contributing to the vaping crisis. October 1, 2019 3 min read Brought to you by MJBizDaily Health officials reported on Friday that the majority of those sickened in the vaping health crisis used cannabis vape products containing THC, and many of those in the first two states to report illnesses – Illinois and Wisconsin – said they used counterfeit marijuana products from the illicit market, not licensed MJ companies. The revelations, contained in a report issued by the Centers for Disease Control and Prevention (CDC), underscore what’s been a debate since the first vaping illnesses were reported in August – whether the nationwide illnesses are coming from the legal, licensed marijuana market or from unlicensed, black-market products. RELATED: I Smoked A Black Market Vape. This Is Why I’ll Never Do It Again Marijuana industry officials have blamed the black market as […]

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Why THCV Might Be The Next Big Thing In Weed

Early research shows that THCV produces a different effect than normal THC, and it could help with a number of health issues. September 30, 2019 10 min read Brought to you by Weedmaps 2019 has the potential to be remembered as the year when minor cannabinoids really hit the scene. While it’s true that the cannabis market is generally interested in tetrahydrocannabinol (THC), the intoxicating cannabinoid that most marijuana consumers have come to know and love; as well as cannabidiol (CBD); but cannabinoids such as cannabinol (CBN), tetrahydrocannabinolic acid (THCA), along with cannabigerol (CBG) have started to attract attention on their own. One minor cannabinoid that appears to be gaining attention is tetrahydrocannabivarin (THCV). THCV is an analog of THC, but produces a completely different buzz than its intoxicating counterpart. It is also found in trace amounts in marijuana, so the effects are likely attributed to more prominent cannabinoids. While more research is done for potential […]

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How Vape Manufacturers Are Striking Back Against Counterfeits

Convinced that the black market is the cause of the vaping crisis, the legal market takes matters into its own hands. September 27, 2019 5 min read Brought to you by Marijuana Business Daily Security labels, barcodes, and microchips are among the measures vaporizer manufacturers are taking to differentiate their products from counterfeit knockoffs suspected to be behind more than 800 illnesses and 12 deaths tied to the nationwide vaping crisis. Last week, California-based marijuana firm KushCo Holdings entered an exclusive distribution agreement with De La Rue, a provider of anti-counterfeiting and authentication solutions that prints more than 8 billion product authentication labels annually. The partnership will provide companies with enhanced packaging with secure visual authentication technology using 3D photopolymer images, unique serialization, e-verification, label-tracking, and data-capturing capabilities. This gives us the ability to track, the ability to authenticate and the ability to put brand recognition beyond the products,” Kovacevich said. […]

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Florida’s Medical Cannabis Industry Has Only One Truly Dominant Player

The state’s roughly half-billion-dollar market is dominated by Trulieve, which is capturing nearly half of all sales. September 26, 2019 7 min read Brought to you by MJBizDaily Florida’s medical marijuana market is often described by industry watchers as an oligopoly – dominated by a few vertically integrated operators. But it isn’t. The reality is that the roughly half-billion-dollar market is dominated by one player – Florida-based Trulieve, which is capturing nearly 50% of all sales. No other company comes close. Experts say that Trulieve’s dominance shows how critical it can be to get an early, strong foothold into a market even when, in Florida’s case, smokable flower sales only recently were allowed. The phenomenon also speaks to how telling per-store sales are and raises the question of whether such financial transparency is being conveyed to cannabis investors today as much as it should be, said Andrew Livingston, director of economics […]

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The Future Of Cannabis Ecommerce? Augmented Reality

Evan Gappleberg, CEO and founder of NexTech AR Solutions, describes how his company is changing cannabis e-commerce. September 24, 2019 1 min read This story originally appeared on Cannabis & Tech Today Cannabis retail, like most industries, is slowly but surely adapting and moving towards ecommerce. The benefits of ecommerce are innumerable, and one company is trying to heighten user experience. We caught up with Evan Gappleberg, CEO and founder of NexTech AR Solutions to discuss what his company is doing to update the online shopping experience. To stay up to date on the latest marijuana-related news make sure to like Cannabis & Tech Today on Facebook Read_More Related posts: The Future of Augmented Reality (Infographic) Will Virtual Reality Change Marketing? 3 Ecommerce Trends You Must Prepare for in 2019 How Augmented Reality Has Changed Selfies Forever (Infographic) We Used Virtual Reality as a Training Tool. Here’s What We Learned. The […]

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Cannabis Firms, Policymakers Must Work Hand-In-Hand, Ex-Canadian Prime Minister Says In MJBizConINT’L Keynote

Canadian Prime Minister Kim Campbell boldly says the marijuana companies and policymakers must work together to educate and debunk stigmas around the industry. September 23, 2019 3 min read This story originally appeared on MJBizDaily Marijuana companies must take an active role in working with policymakers, says former Canadian Prime Minister Kim Campbell. Businesses can impact cannabis public policy by providing the knowledge needed to help policymakers dismiss old language and beliefs about cannabis and replace that with new knowledge. That was one of the messages Campbell had for cannabis entrepreneurs attending MJBizConINT’L in Toronto on Thursday when she sat down with Marijuana Business Daily International Editor Matt Lamers for the conference’s keynote. Campbell said just as policymakers need to understand that companies are in peril when there isn’t a clear framework of regulations, the cannabis industry must help government officials develop laws and regulations so they can navigate freely and with […]

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How He’s Rewriting His Story With Cannabis

September 19, 2019 7 min read This story originally appeared on Weedmaps Mike Tyson hasn’t had a professional fight since 2005, but the strength in his handshake suggests the former boxing champ still packs plenty of power in his fists. Yet Iron Mike is focused on another sport these days. Melted into the pillows of a couch, he was watching the U.S. Open. His daughter is a serious tennis player and Tyson often brings her to watch the pros in person. “We just left this place,” he said without shifting his eyes away from the TV.    Tyson was hanging out in a second-floor office at The+Source, a dispensary in the Las Vegas suburb of Henderson, Nevada, where the “baddest man on the planet” also owns a home. The 53-year-old is about to head downstairs for a public appearance to celebrate the release of his Tyson Ranch cannabis products at a growing number of dispensaries in […]

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How This Family-Owned Cannabis Business Stays Profitable, Self-Funded Despite Tough Regulatory Environment

Autumn Brands’ CFO and Co-Owner, Autumn Shelton, describes the secret to their small business success in the booming cannabis industry. September 18, 2019 4 min read Brought to you by Benzinga The legalization of cannabis has created a multibillion-dollar market with a huge potential. In the rush to take advantage of this growth, thousands of investors are piling into dozens of public cannabis companies. Luckily, there are plenty of companies to choose from, ranging from large producers like Canopy Growth Corp and Tilray Inc. to providers of ancillary services like KushCo Holdings Inc. and Innovative Industrial Properties Inc. Some companies are trading on major exchanges, where they are subject to more scrutiny, but most companies opt for the over-the-counter market or the Canadian market, where it’s easier to list a stock. RELATED: How to Start a Cannabis Business On a Budget Family Owned Businesses On The Sidelines Beyond the headlines, there are dozens, if not […]

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Marijuana Labs Adding Tests Targeting Vitamin E Acetate In Response To Vaping Health Scare

In the wake of recent vaping-related illnesses and deaths, cannabis testing labs are targeting an additive that’s been linked to the unfortunate events. September 17, 2019 6 min read Brought to you by MJBizDaily Cannabis testing labs around the country are adding more specific tests targeting an additive that’s been linked to the string of recent illnesses and deaths health authorities say are related to marijuana and tobacco vaping devices. Although no definitive cause of the vaping-related issues has been identified, early reports have targeted the additive vitamin E acetate as a possible culprit, and several cannabis testing labs are working to develop methods to flag it if detected. Cannabis laboratory officials also said the crisis surrounding vaping has underscored the need for industry-wide testing standards. At Redmond, Washington-based cannabis testing facility Confidence Analytics, Laboratory Director Shannon Stevens said her company is developing a method to test for vitamin E […]

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