On November 2018 MG Magazine published an article written by Chief Strategist of D Branding - Dino H Carter.
As someone with extensive experience, Dino knows how important brand thinking is for an industry that grows so rapidly like the Cannabis industry.
Here are some of the highlights: (to read the whole article click here)
The foundation of every company is its brand. No matter how booming the industry or what a company produces, if its brand is not solid the business will find surviving—much less thriving—in a competitive environment difficult. Make no mistake: The cannabis industry is becoming more competitive by the day.
So, what is a brand? Is it the company’s logo? A product’s name?
Brands are intangible. Logos, product names, packaging, marketing, advertising, and customer service are some of the tangible assets that help build a brand. The brand itself is much more: a “feeling” customers associate with a service or product; a concept, an idea…an experience.
For your business to become a brand, it must develop a personality beyond its products and services, and that personality must align with consumers’ wants and needs. Who are your customers? What benefits do you deliver to them? How do your products and services make them feel about themselves? As you consider your brand, focus outward; see your brand from consumers’ point of view. Remember: They have all the power. They probably can buy products very similar to yours whenever they want, wherever they want, and for a price with which they feel comfortable. What—besides the nebulous and ubiquitous “high quality”—makes your brand so special they should buy from you? Even the smallest companies can build a strong brand with devoted customers simply by creating an identity that resonates with their target market.
Your brand isn’t about your company—it’s about who your customers want to be. Nike’s brand, for example, has less to do with shoes than with excellence in sports. Check out the company’s ads sometime. You won’t find the benefits of the product in big, bold type. In fact, you may not even notice the product at all. Instead, you’ll see action shots of professional athletes doing what they do best. Nike’s customers don’t buy shoes—they buy a dream.
If you are in the Cannabis industry and feel your business is stuck, book a Brand Acceleration Workshop with us.
The Brand Acceleration Workshop assists in building a new brand or help solve problems with an established one.
The idea is to find what initiatives will make the biggest difference for your company and get the highest ROI. At the end of the workshop, you will have a defined full brand personality with values, statement, tone/voice, look & feel, and a defined customer segment you should target.