Marijuana cultivators have a lot to grapple with on a daily basis, from trying to prevent pests that could wipe out their entire crop to constantly calibrating climate control and lighting systems for optimum yields.
So it’s easy to get bogged down in the details without looking at bigger-picture issues that could help fuel growth down the road.
Marijuana Business Daily spoke with several industry experts about how to position a grow for expansion, be it in your local market or in new states that are starting medical marijuana and recreational cannabis programs. Here are some of their top tips.
Create a Brand
Growers often bypass branding, figuring that it’s only beneficial to dispensaries, retail stores and infused products companies.
But it’s becoming increasingly important in some highly competitive markets as cultivation companies look to distinguish themselves from others. Branding is also vital for cultivators that want to expand to multiple states.
Identify what sets you apart from the competition, and make that “your brand DNA,” said Shane Mckee, a co-owner of Rexroad Mckee, the parent company of the Shango line of flowers, concentrates and infused products. Mckee and his partner Brandon Rexroad are currently building out cultivation sites in Nevada and Washington State to go along with their three grows and two dispensaries in the Portland, Oregon, area.
Branding takes a lot of time and work, Mckee said. It isn’t just a matter of coming up with a clever name, logo or motto.
To develop an effective branding strategy, Mckee and co-owner Brandon Rexroad held several brainstorming, or “discovery,” sessions. Executives discussed what they wanted to represent, what was different about the company’s products and the ways its business model differed from others in the industry.
Mckee and Rexroad brought in 22 people from differing age groups, political affiliation and professional backgrounds – some from inside the industry and some from outside of it – to discuss ideas to make their business better.
From this, Mckee and Rexroad came up with a comprehensive branding plan.
Read More: http://mjbizdaily.com/strategies-to-position-a-cultivation-company-for-growth-and-long-term-success/