5 Signs It’s Time to Consider a Rebranding Strategy for Your Cannabis Company
It may be scary to think of rebranding as a company, especially after years of building a reputation. Will customers remember you, or will it turn away your existing customer base? However, with the cannabis industry’s legalizations increasing, your brand may need a more modern appearance and bolder messaging1. Take a look at these five signs it may be time to change up your cannabis company’s rebranding strategy!
1. You’re Blending in with Your Competition
As of 2019, the number of cannabis brands has increased nearly 16 times that of 20142. We can only assume the industry, along with hemp and CBD brands, will continue to grow. This market inflation means that your company may not be getting the same attention it was five years ago. If this is the case, it may be time to switch up your imagery and messaging to start boosting brand awareness again.
2. You’re Trying to Reach a New Audience
The longer you’re running your business, the more insights you will have into your audience. After a few years, you may notice that who you’ve been targeting isn’t actually who is making purchases. Whenever you’re trying to reach a new group of people, a connection is everything. How you speak to them and what you present them with is crucial. Age, location, and other demographics should heavily influence your branding decisions.
3. You’re Business Has Expanded
In an increasingly growing industry like cannabis, every company is trying new things to stand out. If you have dabbled in introducing new products, your brand may not reflect those additions. When a potential customer lands on your social media page or website, they must be able to recognize who you are, what you offer, and make the connection between the two.
4. You’re Brand No Longer Reflects Your Values
As the cannabis industry regulations are changing year after year, you may have found that you’re doing things differently. It’s time to let your customers know and allow them to connect with your new values. From being more inclusive to offering medical-grade products to sharing a more lifestyle approach, make sure your company’s vision, mission, values, and core principles align and are up to date.
5. You’re Branding is Simply Outdated
One of the top reasons a company re-brands is because they want a more modern look and feel. Especially in the retail industry, being natural, organic, and transparent is vital. Beyond product and messaging, your social media presence and website must reflect current times. Utilize current design trends and themes, and be sure your site is mobile and user friendly.
Take the First Steps to Rebrand Your Cannabis Business
Overall, customers look for a brand that they can connect with. If your cannabis business is falling short in one or more of these areas, it’s time to consider a rebranding strategy. From a new logo and tagline to business cards and marketing materials, the marketing specialists at Herban Creative can help revitalize your brand. Get in touch with us today!