7 Reasons Why You Probably Need to Rebrand Your Cannabis Business ASAP (And 6 Steps to Do it Right)
If you are running a cannabis business in California, chances are, you’ve probably been toying with the idea to rebrand your cannabis business.
It’s a daunting task, but a rebranding can be what finally pushes your business to the next level.
There are tons of reasons why you’d want to go about this, and if you agree with any of the following, you’re probably ready to get started.
Why you should probably get on that rebrand ASAP:
1. Industry standards have changed
The cannabis industry is vastly different now than what it once was.
Before, most companies could get away with simply adding more THC to a product to yield profitable results.
But because of the regulations when it comes to THC content limitations, cannabis businesses need to be more creative now than ever to prove that their products are the best, regardless of the amount of THC in their product.
For many businesses, the price point is a big issue. Especially with California taxes on cannabis being at an all-time high, there is a bigger need now than ever to justify a higher price point.
2. Your business may have significantly changed
Maybe you introduced a new product line, merged with another company, or made some other drastic change recently that has significantly changed your business model.
Whatever the reason, if your business is changing and expanding, it may be the perfect time to rebrand your cannabis business.
If left untouched, you run the risk of no one noticing that you’ve expanded or changed for the better, and anything new just feels like it’s still old news.
Your customers and clients won’t feel as excited about the changes because they probably won’t recognize that much of anything has changed.
Your rebrand should reflect any exciting changes made in your business, and shouldn’t linger in an identity of your company’s past.
It should be exciting and it should be able to grab the attention of your audience!
3. Your demographic may have changed
There’s no one formula for every business because things are always changing. People are always changing. Consumer needs are always changing.
The people who may have been in your target demographic before may have outgrown your product. Maybe the price point or potency level of your products have changed, which consequentially makes your previous demographic no longer interested.
But just because one group of people are no longer into your products or services, it doesn’t mean that your business is a lost cause.
Changing your demographic, and marketing toward a different demographic, can ultimately save your business, and could even prove to be more successful than your first vision for the company.
If you’re demographic has changed, it’s definitely time to rebrand your cannabis business.
4. There hasn’t been a cohesive brand strategy yet
You’ve had bits and pieces in the works but it doesn’t feel consistent throughout your whole brand.
Maybe your website has one color palette and font, but your current packaging shows another. Maybe your social media page doesn’t reflect your company’s vision.
If you’re a bit scattered when it comes to brand consistency, it’s a great time to rebrand your cannabis business.
A consistent brand story is as important now as it’s ever been.
Consumers crave consistency so that they can build brand trust and loyalty.
If you want to be recognized and gain brand loyalty and trust, you’ll need that cohesive strategy among all marketing platforms.
5. You need to remain competitive
You don’t need us to tell you that the cannabis industry is changing fast.
Every company is undergoing some serious rebrands because of packaging, price, and other California regulations.
To continue to compete in a competitive market, it’s a good idea to rebrand your cannabis business too.
You need to be able to stand out on the shelves next to many other brands that are all at their own stages of marketing and strategizing.
If you want to come out on top, a rebrand that’s unique from the rest but still up to par with the rest of the industry standards is imperative.
6. Your brand doesn’t have the best reputation
In the age of Yelp, Weedmaps, and Google, people are savvy about doing their own research on a brand before they jump on board.
If you don’t have a solid reputation – online and in person – then it’s definitely time to rebrand your cannabis business.
It’s not impossible to fix a bad reputation, but depending on how bad it is, it can be pretty hard.
That’s why we recommend a rebrand to take attention away from your old reputation and leave room for new reviews and feedback.
If this is your reason why, be sure to know exactly what’s holding your business back from having a solid reputation BEFORE your rebrand.
You’ll want to have all of those kinks ironed out beforehand.
7. You’re ready for a change
If your brand doesn’t feel authentic anymore, or it’s lost that connection with you or other stakeholders, it may be time for a refresher.
This doesn’t have to mean a drastic rebrand, but a light refresher may do you some good.
For example, Microsoft changed their logo 4 times since its first official logo in1975 to stay relevant and authentic.
You want to be able to feel inspired by what you do and what you provide, and that’s simply not possible if you don’t feel connected with your brand identity like you used to.
Whether you’re interested in a light refresher or an entire rebrand your cannabis business, a good enough reason is to simply want a change.
There’s no need to wait around for an external change. If you feel inspired toward change, there’s absolutely nothing wrong with that.
Agree with one or more of those?
The first step of doing a rebranding is, ultimately, coming to the conclusion that this is something your business really needs. This means that the next step is that you’re ready to get started! This can be easier said than done, as most businesses don’t really know where to start when it comes to a rebrand.
But that’s why we decided to simplify it.
Here is our 6-step process that we encourage you to check out while looking to rebrand your cannabis business.
How to rebrand your cannabis business:
1. Pinpoint a demographic and do your research
We really can’t stress this enough.
Finding your target demographic and using solid research to come to your conclusion is key.
The demographic you choose (or worse – don’t choose) can make or break your brand strategy.
When you rebrand your cannabis business, your new demographic should be at the forefront of your mind when you’re getting started.
What does your audience care about? What do they do for fun? Are they more interested in medical cannabis or recreational cannabis? Do they want smokeables like flower and vapes, or non-smokeables like edibles and topicals?
Paint a picture in your mind of who these people are and how to grab their attention.
Once you’ve got that down, the rest will fall into place much more smoothly.
2. Decide on a brand mission, vision, and voice
The next step is to give your plan some legs.
Decide on the voice, vision, and mission statement that would appeal to your target demographic.
Do you take a strong political stance? Do you have a vision for the industry’s future? Do you just want to get people high af?
You can take your brand voice in so many directions, so have fun with it!
Try different statements and test them out on people in your demographic and get real-life responses and opinions.
Nothing is more valuable to you while you rebrand your cannabis business than feedback from your future customers.
3. Design a strong logo and color palette with a holistic strategy in mind
The next step is to take your demographic, take what they want, and make it visual.
This is where you can really get creative.
Do some research on color palettes, symbols, and typography that are relevant in your space (Here’s a free tip – please don’t use Comic Sans).
Choose your colors and logo carefully, because this will create the visual backbone of your brand.
Eventually, these colors and symbols will represent easily recognizable design components that your customers will learn to trust and respect.
When you rebrand your cannabis business, deciding on a logo and color palette may be a difficult decision, but it’s a very important one.
4. Get on the same page and collaborate with key stakeholders
Throughout your rebranding process, you’ll definitely want to collaborate with other team members and stakeholders in your business.
As much as it’s tempting to feel like this brand is your brainchild alone, this brand should represent the ideas of all of the key people involved.
Plus, collaborating with other like-minded and open-minded people will ultimately give your brand a more solid and holistic strategy.
More minds are better than one, so get together for a brainstorming session and let the creativity flow!
Remember to keep your mind open too.
It’s usually pretty hard to anticipate what’ll work with your demographic which is why more ideas and more campaigns to try are always better than less.
5. Nail down a PR strategy
When you finally roll out your rebrand, you’re going to want to do it right.
You’ll need internal PR campaigns to get your employees excited about the rebrand and to turn them into brand ambassadors and advocates.
You’ll also need external campaigns that include all of your digital marketing platforms to get the word out.
And finally, we recommend having some sort of launch party to invite stakeholders, clients, employees, media, and your local community to celebrate the new rebrand.
This step can be tricky, but when executed well, can make a huge difference in the way that your brand catches on with your audience.
6. Defend your brand
When you rebrand your cannabis business, it doesn’t end as soon as you launch.
When other companies will want to mess with your color scheme, skew your logo, or mess with your messaging, you’ve got to be ready to defend the integrity of your brand.
Stay firm in your vision because the more consistent your branding is across multiple platforms, the more legitimate and attractive it will be to prospective clients and customers.
A rebrand can be daunting. But it doesn’t have to be.
There’s a wide range of options that you play with for your brand that’ll give it the refresher that it needs without going the whole nine yards.
If you don’t want to perform a drastic rebrand, a subtle refresher could make just as much of an impact.
When it comes to your brand, it’s YOUR brand. You decide the direction it goes in and you nurture it so that it grows into your vision for it.
A rebrand is a way of taking that growth to the next level and getting one step closer to the brand of your dreams.
When you decide it’s time to rebrand your cannabis business, it can be a really exciting and rewarding time. It can also be overwhelming keeping track of so many moving parts.
Luckily for you, rebranding cannabis businesses is our specialty.
We can produce quality work for any subtle brand refreshing, or a total rebranding in a short amount of time.
We pride ourselves on our commitment to quality, creativity, and quickness.
Interested in setting up a consultation about what a rebrand for your cannabis business would look like? Feel free to contact us here to get in touch.
Special shout out for Capitol Compliance Management for providing us with the connections and resources that have helped us do what we do best.
Cannabis marketing is our passion, so feel free to contact us when you decide that it’s finally time to rebrand your cannabis business.