![Tax Revenue from Legalization of NJ Cannabis [$250 Million]](https://herbancreativenj.com/wp-content/uploads/2022/02/towfiqu-barbhuiya-nApaSgkzaxg-unsplash-1170x658.jpg)
New Jersey is in the process of legalizing cannabis, but there are still a lot of questions about how this will be done and what the benefits will be.
Cannabis could bring a huge boom to the New Jersey economy, generating up to $350 million in annual tax revenue from legalization1. The analysis suggests that legalizing and taxing cannabis could bring in more money than the state currently takes in from alcohol taxes. Considering the potential benefits of legalization — including reduced law enforcement costs and increased employment opportunities — it’s clear that cannabis taxation should be a priority for the NJ legislature.
One of the most important things to consider about tax revenue from legalization is that money would go towards public education. Many people mistakenly think revenue from marijuana legalization would only go toward law enforcement and rehab programs, but this revenue would be split to support those things, as well as public education. Schools will benefit from sales, resulting in a better community for all.
An important aspect of the revenue is that it would come from a business tax and a sales tax on cannabis products. This revenue could make a massive difference in the lives of students and families across New Jersey. One way families benefit from government programs is through public schools. The revenue from marijuana legalization would help improve the quality of education for students, which is a large part of New Jersey’s economy.
Regarding lowering costs for the state, the money from taxation on cannabis has even been compared to the amount that organizations spend annually helping people who have fallen victim to drugs and alcohol. Cannabis regulation would not only save law enforcement costs but also boost New Jersey’s economy.
Another great reason to encourage taxation on cannabis is that it would create jobs. Cannabis regulations would likely mean more businesses are generated throughout the state, which means more job opportunities. New Jersey has an unemployment rate of 6.3%, which could be improved by creating new jobs for residents to support the marijuana industry. These jobs can unite modern marijuana trends with age-old growing practices, creating a perfect product ready for marketing.
By encouraging cannabis legalization, you help create hundreds of millions in tax revenue for the state, better education opportunities, reduce America’s mass incarceration problem, and improve our infrastructure. Some roads, bridges, and other public utilities will likely receive a funding boost from the taxation. We should all consider supporting taxation on cannabis for these reasons – and the unmatched revenue it brings in.
Taxing marijuana could generate millions of dollars in revenue for the state, and that money could be used to fund important programs and services. For assistance on marketing your cannabis brand, consider working with us.
Herban Creative is a top-tier cannabis advertising agency that can help you navigate these waters and make sure your business takes advantage of the opportunities legalization presents. We have years of experience working with businesses in the cannabis industry, and we know what it takes to succeed. Contact us today to learn more.
If you’re looking to market your dispensary specials, you may face some challenges when trying to navigate industry regulations. But when working with a professional digital marketing agency specializing in cannabis and dispensary marketing, you can successfully develop a digital marketing campaign that won’t go against industry regulations.
These industry regulations force both marketers and dispensaries to think outside the box regarding their marketing initiatives. Here are three ways to successfully market your dispensary specials online.
One of the most critical aspects of marketing dispensary specials is a fully functioning, easy to navigate, and user-friendly website. If a website is challenging to navigate or has an extremely long load time, people will opt-out, and you risk losing a potential customer. A great way to promote dispensary specials using your website is by creating a specific landing page that outlines all of the different offerings to which you can link social posts and advertisements.
Another great way to market your dispensary specials is through rewarding your loyal customers. By creating a loyalty program, your customers will feel valued and encouraged to continue coming back and making more sales. There’s no one-size-fits-all in terms of loyalty programs, and finding one that works best for your dispensary is what will foster brand loyalty for your consumers. Additionally, rewarding your loyal customers will encourage them to share their positive experiences with others and, in turn, create more brand awareness and reach new potential consumers.
Creating engaging, educational, and interactive content for your customers on social media will garner more potential followers and boost brand awareness. While people are interested in the different offerings, services, and products that your dispensary offers, people also want to engage with a brand on a deeper level than just monetarily. Creating content they will appreciate makes them more likely to identify with your brand on a more significant level, helps foster that brand loyalty, and aids in more sales.
Do you have a cannabis brand that is looking to grow? Consider Herban Creative. We will create an integrated digital marketing strategy to grow your online presence and help advertise your dispensary specials. Contact us today to learn more about our in-house services.
Is your CBD business looking to expand its online presence into digital advertising? If so, you may be asking can I promote CBD on Instagram? And the answer is yes!
While it is possible to promote CBD on Instagram, there are potential roadblocks that may hinder your CBD ads from getting approved or, even worse, potentially shutting down your account. But by paying close attention to industry regulations and by adding organic initiatives into your digital marketing strategy, it is very possible to promote your CBD products. Here are three ways to successfully advertise your CBD products on Instagram.
As the only paid ad initiative mentioned in this article, this option can be quite successful with a close eye on industry regulations. By creating a brand awareness campaign, potential consumers will be encouraged to learn more about your brand instead of promoting specific products. If you’re looking to create this type of campaign, avoid the mention of “CBD” in any of the copy because Instagram will most likely flag these advertisements.
Creating a solid marketing strategy is essential to successfully marketing your brand on social media. In fact, brands that neglect to create content hinder their potential success because users want to interact with engaging content and not solely advertisements. While it may be challenging to share blog posts on Instagram, creating graphics or educational infographics that summarize your blogs is a great way to get users to interact with your page and be encouraged to explore more of your website.
For smaller brands, the idea of working with an influencer can seem daunting or even unrealistic. But this doesn’t have to be the case. With several micro-influencers in the CBD and cannabis industry, partnering with them to advertise your products is a great way to reach new audiences and potential consumers. While all brands compensate influencers differently, this can be a great way to implement a paid initiative without running the risk of getting flagged from Instagram.
Do you have a cannabis brand that is looking to grow? Consider Herban Creative. We will create an integrated digital marketing strategy to grow your online presence. Contact us today to learn more about our in-house services.
Social media marketing is an essential aspect of your digital marketing strategy. With an advertising audience of 2.14 billion1, this is a platform that marketers cannot afford to miss out on. With so many businesses reaching success on Facebook, cannabis brands may be wondering, can you advertise cannabis on Facebook in 2022?
Unfortunately for cannabis-based businesses, it can be challenging to navigate advertising on Facebook due to cannabis remaining illegal at the federal level. While there are ways to navigate around Facebook’s ad targeting guidelines, it can be easy to accidentally violate the platform’s terms of service when trying to advertise on the platform.
Here are a few ways you can successfully advertise your cannabis business on Facebook.
If you suggest that your cannabis products are for sale, Facebook will flag your ads. Instead, you should focus your efforts on building brand awareness. By creating a business page for your brand, you can build followers over time and create lasting brand loyalty.
As mentioned above, avoid any language regarding the distribution or promotion of sales. Instead, emphasize education. This can include educational infographics, sharing thought-invoking articles, or emphasizing your brand’s positive image within the industry.
While all cannabis brands rely deeply on the cannabis plant for their products and services, you should not be posting any imagery of cannabis on Facebook when it comes to your ads. They will immediately be flagged and taken down before they reach your targeted audience. Instead, focus your efforts on creating eye-catching graphics based on your company’s branding to set you apart from the competition.
While Facebook advertising is a wildly successful social media marketing method, there are many other ways cannabis brands can safely promote their products and services without breaking any guidelines.
There are multiple aspects of Digital Marketing that can help with advertising and marketing your products online. Consider adding a blog page to your website where you can create SEO-optimized content to help boost your ranking on Google without paying for ads. Another strategy is investing in your company’s branding. This can include branded products with a custom-designed logo, matching website, and additional collateral to pass out at cannabis networking events or tradeshows.
If your cannabis brand is struggling to advertise itself without violating guidelines, reach out to the strategists at Herban Creative. We’re experienced at navigating the difficult restrictions placed upon the cannabis industry.
The NJ Cannabis Commission announced it would open the application process for marijuana growers, processors, and testing labs starting December 15th, 2021. Additionally, it was announced that dispensary licenses will be open for applications starting March 15th, 2022.
The commission went on to announce that there would be no deadlines to file these applications and they would accept them on a rolling basis. The only licenses that are set to have a capacity limit are cultivation licenses, with only 37 new licenses1 to be issued until February 2023.
The NJ Cannabis Commission announced in October 2021 that they would award 14 new licenses2 to medical marijuana dispensaries, adding 235,000 square feet of space to grow medical marijuana in NJ. These facilities are required to operate as medical dispensaries only for a year before they can apply to grow and sell marijuana to the public.
Although NJ residents voted in favor of the recreational use of marijuana for adults 21+, the state currently only has medical marijuana dispensaries and growers. These dispensaries will be the first to have an opportunity to sell to the public once they certify that they have enough cannabis to meet their patients’ needs and the demand of the public. These dispensaries will also be expected to pay fees to expand their licenses into the recreational market.
Any business can apply to receive a dispensary license. The commission announced that applicants that are women, veterans, or minority-owned businesses would receive priority. Additionally, applicants who have been arrested for marijuana-related crimes or are economically disadvantaged due to the disproportionate rates of marijuana arrests will also receive priority.
For more information regarding legalization in NJ and the many steps bringing the state another step closer towards opening a fully functioning recreational market for marijuana users, stay up to date with Herban Creative.
