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DIGITAL ADVERTISING & TECHNOLOGY CONSULTING FOR THE CANNABIS INDUSTRY


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DIGITAL ADVERTISING & TECHNOLOGY CONSULTING FOR THE CANNABIS INDUSTRY


 

“Ramona is an iron fist in a velvet glove! And a real boon to the industry.” 

— Randall Rothenberg, CEO, Interactive Advertising Bureau (IAB)

 
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The Cannabis Industry is Growing Like a Weed


 

A 2016 study conducted by Sparks & Honey revealed that Americans in 2015 spent more on marijuana ($3.5b) than they did on Oreos ($711m).

 

In 2016, legal marijuana could be a $6.7 billion industry.

 

By 2020, the legal marijuana market is projected to reach $22—$35 billion.

 

If Arizona, California, Maine, Massachusetts, and Nevada vote to legalize recreational use, approx. 75 million people—more than 23% of the US population—would live in states where recreational use is legal.

The Cannabis Industry is Growing Like a Weed


 

A 2016 study conducted by Sparks & Honey revealed that Americans in 2015 spent more on marijuana ($3.5b) than they did on Oreos ($711m).

 

In 2016, legal marijuana could be a $6.7 billion industry.

 

By 2020, the legal marijuana market is projected to reach $22—$35 billion.

 

If Arizona, California, Maine, Massachusetts, and Nevada vote to legalize recreational use, approx. 75 million people—more than 23% of the US population—would live in states where recreational use is legal.

That's a lot of revenue and consumers to compete for.

Is your company prepared for Profitability?

Brands

If you are a brand, there are almost zero opportunities in mainstream media to engage with consumers. And there is finite inventory available from niche digital properties, limiting your ability to reach your target audience at any meaningful scale.

Thankfully, both obstacles are evaporating quickly. Even though the digital advertising industry has been slow to adjust their attitudes and policies—specifically Google, Facebook, and Twitter—more online advertising and marketing opportunities will rapidly emerge as more states legalize recreational marijuana use and consumer demand explodes overnight. Learn how to maximize ROI on your advertising and marketing efforts.

Digital Publishers

As more states legalize recreational use, advertising revenue will be generated not only from core products, retail outlets, and dispensaries but also from festivals, concerts, entertainment venues, and restaurants. In addition, the burgeoning demand for hemp products will also increase the flow of media budgets. 

However, operating a profitable advertising revenue-supported business is infinitely more complex than cultivating a marijuana strain. Now is the time to invest in core capabilities and establish relationships with brands and agencies, as well as technology providers and partners—before Google, Facebook, and Twitter reverse their advertising policies and brands' media budgets are spent on those platforms instead of yours.

Technology Providers

Within any new disruptive industry, disruptive technology develops almost overnight. Yet, in the digital advertising and technology industry, disruption has backfired more often than not and has led to ad blocking, ad fraud, viewability, and transparency issues—all of which had a jaw-dropping negative impact on revenue.

Innovation with good intentions for both customers and the industry at large is what differentiates technology companies. If you have an advertising technology solution or service for the cannabis industry, integration and interoperability with your clients' existing technology stack is a deal-breaker. Be ready to help, not disrupt. 


Sources: Sparks & Honey, ArcView Market Research & New Frontier, Associated Press