Alexis Silverman

Change is coming in the cannabis industry and opinions are split on whether it's good or bad. But one thing is for sure, it will be different. While some see this change as a potential positive, others fear that it could lead to pharma control. There are potential benefits such as the impact on banking and the 280E, but it remains to be seen whether these will truly help the industry. Regardless, the fact remains that federal regulations are on the horizon. Brace yourselves, change is upon us. #CannabisIndustry #Regulations #Change

5

Cannabis Firms, You Can Take Up Pricing “Pricing is by far the biggest tool for earnings improvement." McKinsey & Co. Almost every cannabis business is caught in a vise of rising costs and declining pricing levels, exacerbated by relentless competition and rapid product turnover. This nasty reality can be mitigated.  Whilst cannabis firms are generally price takers, they often have brands and SKUs where they can take up pricing with minimal volume or brand risk.  This is a compelling opportunity when you do the math.  Modest across-the-board price increases (say 3% to keep pace with inflation) can boost bottom line profitability by 25%. In cannabis, I’ve worked on selected pricing initiatives in high switching categories that have increased Return on Sales by 4-7%.  'Selective' is the key word when it comes to price increases.  Cannabis brands typically feature high volume & inventory risk; price adjustments come with execution costs and; there are risks of decoupling your pricing and brand strategies. Leaders would be ill-advised to ignore price increases as a means of boosting financial and brand performance. Capitalizing on these opportunities, however, takes work, including: financial and demand elasticity modelling, market/consumer research and total quality implementation.  Here are 3 ways to ‘price to win’: 1. Align your pricing to value delivered, market differentiation and consumer interest.    If your product has lots of consumer-relevant features, is unique or competes in a sleepy category then you have pricing power.  Use it to get capture higher margins. Some marketers should also be mindful that consumers have a hard time believing you are a premium brand if the product is priced in the value segment.  In this case, taking up pricing could paradoxically lead to higher volume. 2. Message better Channels and consumers understand inflation; they also live it.  How you position and communicate a modest price increase can be the difference between success and failure.  And it never hurts to test your pricing hypothesis in a controlled pilot.   3. Build long term capability Pricing management should be a shared competency and responsibility between sales, marketing and finance.  Regularly monitor your costs, competition, and channel needs to ensure your pricing strategy consistently delivers on corporate goals. 🔔 Hit that follow bell to always get my unique, impactful content #cannabisindustry #pricing #cannabis #Mckinsey #revenue #brands #MSOS #LPS

14

2 Comments

A common misconception in the cannabis industry is that you can buy market share. Market share can’t be bought but it can be rented. The only way to own market share is to earn it. Because consumers always get the last say in what they spend their money on. And if your product sucks, they aren’t buying it again. It doesn’t matter how many distribution points you purchased.

71

6 Comments

Did you know that optimizing meta descriptions for cannabis websites requires compliance with industry regulations while maintaining engagement? Ever thought about how cannabis websites write those little snippets you see in search results? Yep, those are called meta descriptions. But here's the kicker: for cannabis sites, they're not just about sounding cool – they have to follow the rules. See, the cannabis industry has regulations, and that includes what you can say in those meta descriptions. But don't worry, you can still make them catchy and engaging while playing by the book. So, next time you're optimizing your website, keep those regulations in mind. Your meta descriptions can still grab attention and bring in visitors – just have to do it the compliant way! In the cannabis industry, even meta descriptions need to play by the rules. But how do you keep them engaging? Share it in the comments! #CannabisMarketing #Compliance #DigitalStrategy #BlazingSEO #Engagement #IndustryInsights

1

In the dynamic landscape of the cannabis industry, strategy serves as the blueprint for structure, guiding businesses through complex regulatory frameworks, market fluctuations, and consumer trends. Without a strategic approach, companies risk instability, missed opportunities, and ultimately struggle to establish a cohesive foundation for growth and success in this evolving market. Do you have structure?? . . . #Cloud9cannabis #Cloud9cannabisco #equity #socialequity #socialequityincannabis #fyp #Foryoupage#excellence #dreambig #Lovewhatyoudo #Consultation

4

Critical Oversight! Many leaders in the cannabis industry mistakenly believe employees are easily replaceable and that they can always find someone better. This mindset results in poor treatment of staff, which ultimately damages the business. A dedicated employee not only masters the systems, products, and processes but also forges lasting relationships with clients and colleagues. Losing such an employee means losing a vital part of your company culture and potentially risking your future success. Value your loyal employees and never push them to the point where they lose their passion. Agree? #cannabis #cannabisindustry #cannabisculture

514

113 Comments

🚨 Insightful DEA Report: Illicit marijuana flowers average a THC potency of 16%. 🌿💨 This statistic underscores a significant advantage of purchasing from licensed dispensaries—quality and safety. Unlike the unregulated market, dispensaries offer products that are tested, compliant, and consistent in their THC content. This not only ensures a safer consumer experience but also supports the legal cannabis industry committed to high standards. Why risk the unknown? Choose quality, safety, and reliability every time with dispensary-bought cannabis. Let's advocate for more informed consumer choices and support regulations that emphasize these benefits. Stay informed and choose wisely. #CannabisIndustry #ConsumerSafety #DispensaryQuality #THCPotency #RegulatedCannabis

19

7 Comments

Cannabis SEO Strategies For Optimal Visibility https://lnkd.in/gsbH58Xu - One of my favorite topics...been working with this industry since 1994 #CannabisCommunity #cannabisculture

10

3 Comments

📅 Mark your calendars for the next NY Cannabis Control Board meeting on June 11th. Which licenses will make the cut this month? Will the discussions be as dynamic as the last session? I'm particularly eager to see if the CCB plans to approve all licenses recommended by the Office. Stay tuned for updates and insights! 🌿 #CannabisIndustry #CCB #CannabisLicensing #RegulatoryUpdates

4

Let me tell you why most people don’t end up achieving their goal of increasing their online visibility and attracting more customers for their cannabis business. First, they rely on outdated SEO strategies that don't align with the current trends in the industry. Second, competition is tough in the cannabis industry, making it challenging to stand out among competitors. Third, they lack a comprehensive understanding of SEO metrics and analytics, making it difficult for them to track their progress effectively. Now, this is NOT your fault… it’s just the way things are. So what can we do about it? Well, let’s work together and change things. #BlazingSEO #CannabisSEO #GrowWithSEO #CannabisGrowth

1

Connecticut continues to refine and restrict how CBD products containing THC are regulated, creating new product categories including “moderate-THC hemp” and “infused beverages,” which go into effect on October 1, 2024. Moderate-THC hemp allows certain full-spectrum CBD products to be sold with a certificate of registration from the Department of Consumer Protection (DCP) beginning on Jan. 1, 2025, provided they meet specific THC limits. In order to obtain this certificate, businesses must demonstrate that it is reasonably likely that at least 85% of their average monthly gross revenue will be generated from the sale of moderate-THC hemp products going forward. This requirement will likely exclude many retailers like health food stores, large retail chains, and farmers markets from selling moderate-THC hemp products. This change may also shift manufacturing and sales of these products from local to out-of-state producers. 🚨 THIS US WHY YOU NEED EXPERIENCED MARKETING PROS 🚨Cannabis businesses can no longer advertise discounts or promotional prices outside their own facilities or websites. This limits marketing strategies, potentially affecting competitive pricing and consumer outreach. The exception for websites provides some relief, but overall, the restrictions add to the already stringent advertising regulations in Connecticut. https://lnkd.in/e4nrCTgF

10

Exciting news in the cannabis industry! 🌿 Tribally owned marijuana store numbers have surged by 25% since January 2023, with a total of 57 stores now operating across nine states. This significant growth showcases the increasing acceptance and investment in the cannabis market. 💸 Here are some predictions and commentary on this latest development: - The rise in tribally owned marijuana stores indicates a growing trend toward diversity and inclusivity within the cannabis industry. - With more tribes entering the market, we can expect to see unique products and offerings that cater to a wider range of consumers. - This increase in tribal ownership could lead to partnerships and collaborations with mainstream cannabis businesses, fostering a more interconnected and robust industry. As we move forward, it will be interesting to see how these tribal-owned stores continue to evolve and differentiate themselves in the competitive landscape. Stay tuned for more updates on this dynamic sector! 🚀

1

1 Comment

Brand loyalty doesn't exist in cannabis yet. No c@nn@bis brands are pulling the cultural & psychological levers to drive customers to develop a long-lasting connection. Rather, the crux of all c@nn@bis loyalty programs is receiving points/rewards/discounts, which is transaction-based instead of relationship-based. So customers have little to no emotional tie with a brand. As more and more adult-use markets come online, customers are quick to leave a retailer when something closer becomes available to them. Convenience is king. In addition customers can be easily swayed to a different brand with promotions and discounts. Plus, there's not a lot of clear differentiation among retailers, either in products available or customer experience. Agree? Disagree?

68

66 Comments

Who’s who in cannabis by the The Business Journals Get the full article below 👇🏻 Learn more about how Priscotty™ is shaking up the industry! https://lnkd.in/emJZUrGf #cannabis #cannabiscommunity #weed #cannabisindustry

23

1 Comment

Hey there! Today, let's tackle how you can use product attributes to boost your SEO, especially if you’re an entrepreneur in the cannabis industry. Think of it as adding extra sparkle to your products so they catch more eyes online. Here's a simple guide to using product attributes to boost your SEO: How to Optimize Product Attributes 1. Identify Key Attributes Think about what details your customers care about most. These are your key attributes. For cannabis products, it might be things like strain type, THC/CBD content, and effects. 2. Include Attributes in Product Titles Make your product titles clear and descriptive. Instead of just "Blue Dream," try "Blue Dream - High-THC Sativa with Creative Effects." This way, you're including important keywords right in the title. 3. Write Detailed Product Descriptions Expand on your product attributes in the description. Use natural language to include these attributes. For example: “Our Blue Dream is a high-THC Sativa known for its uplifting and creative effects, with a sweet berry aroma.” 4. Use Attribute Filters on Your Website Have filters based on these attributes on your site. This helps users find what they’re looking for quickly and creates more indexed pages for search engines. Each filter option should have its own dedicated page, like “High-THC Sativas” or “Organic CBD Oils.” 5. Add Schema Markup This is a bit technical, but it’s worth it. Schema markup is code you add to your website to help search engines understand your content better. For product attributes, you can use specific schema types like “Product” and “AggregateRating” to give search engines detailed info about your products. Examples Let's look at a couple of examples to see how this works: Amnesia Haze (Flower/Bud) A. Health Benefits B. Aroma C. Taste D. Price Amnesia Haze (Seed) A. Gender B. Genetics C. Yield D. Flowering Period E. Sowing Period F. Price By organizing and highlighting these attributes, you ensure your product pages are both informative and optimized for search engines. Remember to update your attributes as needed. The cannabis industry is always changing, with new strains and products coming out all the time. Keeping your product attributes current ensures you stay relevant in search results. So, that's it! By focusing on your product attributes and adding them into your SEO strategy, you can help your cannabis business stand out online. It’s like giving your products a megaphone to shout out to all those potential customers searching for exactly what you offer. Have more questions? Please let me know in the comments! #CannabisBusiness #SEO #BlazingSEO

1