Five years after recreational marijuana was legalized in California, the Cannabis market experiences a monumental shift in public perception.
With the government continuing to push for policies that will put illegal operators out of business, the market is ripe for picking.
With this comes an urgent need for cannabis business operators to understand California cannabis consumer insights so they can create more effective marketing strategies.
This brief guide will provide operators with an introduction on how they can use cannabis consumer insights for better marketing, as well as some questions to ask when researching this demographic.
Why Consumer Insights Matter for Cannabis Business Operators
The potential of the cannabis industry is huge. According to tax information published by the state Department of Taxation and Finance this year, the market is valued at $5 billion in California alone. It’s only going to go up from here.
If you’re thinking about getting into the cannabis business or you’re an established cannabis marketer looking for new opportunities, then this guide on cannabis marketing insights will help you get on the right track.
Cannabis marketing is growing more competitive every day. With so many brands overlapping in so few spaces, it’s tough to stand out from the crowd. But with good insights, you can create a brand that stands apart from the rest of them.
This is why consumer insights are important. They can be used for marketing and advertising purposes instead of just being an afterthought during campaign creation.
Studying consumer behavior can tell you what influences individuals to purchase cannabis products and support certain methods of consumption.
Consumer data analysis is a science, and you may use it to your advantage when trying to understand and influence consumer behavior.
You can tailor-fit your marketing to appeal to your consumers and use all available marketing techniques, using the data you’ve gathered, to get them to buy your products.
How to Collect Cannabis Consumer Insights?
There are many ways that cannabis companies can collect consumer insights. Cannabis companies can conduct surveys, create focus groups, and use other market research tools to learn more about their market.
Companies may also use market research firms to gather data. Market research firms can provide metrics like demographics and psychographics to track trends and patterns among their client base.
What to Do With All the Data and What Does it Mean for Operators?
You can use all the data towards mapping your customer journey and the creation of buyer personas.
A customer journey map shows the steps your customers take as they interact with your company. It helps you tell the story of your customer’s experiences with your brand across all touchpoints, such as social media, email, live chat, and others. This map can tell you the areas you’re making it difficult for consumers to buy your product.
A buyer persona, on the other hand, describes who your ideal customer is. So if you have valuable insights about your customers, you can create a buyer persona based on quantitative and qualitative data you have gathered.
All of these can help you personalize your customer’s experience and increase your earning potentials.
Partner with a Market Research Firm to Supercharge Your Growth
California cannabis consumer insights are critical to the success of any cannabis-related company in the state.
Having insights into your customers can help you better craft marketing campaigns that can deeply affect customer behavior. When you use these insights, you can increase your sales and gain a competitive advantage over your competitors.
If you need reliable and accurate research for your market, get in touch with ISA Group. ISA Group specializes in cannabis and offers full-service research and analytics so you can grow your business even in the competitive landscape that is cannabis. Contact them today.