Building a Robust Brand: A Blueprint for Success in the Cannabis Industry

LOS ANGELES– In a rapidly evolving market, cannabis companies are urged to adopt a nuanced approach to brand building, harmonizing seasoned cannabis expertise with established business principles to foster growth and sustainability. Steve Goldner, a leading branding expert in cannabis, writing here exclusively for Highly Capitalized, Goldner emphasizes the necessity of a well-rounded brand strategy that resonates with a diverse consumer base, transcending mere THC percentages.

According to Goldner, the cornerstone of a successful cannabis business is a robust brand strategy that encapsulates the company’s values, promises, and personality. This strategy should be meticulously crafted to foster a deep connection with the target audience, steering clear of a one-size-fits-all approach that has often been the pitfall of many companies in the sector.

Goldner suggests that before delving into brand communication, companies must establish a clear brand strategy and product positioning. This involves defining the brand’s objectives, identifying the target customer base, and setting benchmarks for long-term success. A well-articulated positioning statement, which delineates the product’s unique selling points and its advantages over competitors, serves as a vital tool in this process.

The essence of a brand transcends tangible elements like logos and taglines; it embodies an intangible marketing concept that fosters customer loyalty and preference. Goldner underscores that the ultimate goal of brand building is to cultivate a favorable bias among consumers, encouraging them to choose your products over others in the market.

Image: Cannabis Brands. Without a solid strategy, the brands of today, may not be around tomorrow. 

Content strategy forms a critical component of this brand-building endeavor. Goldner advocates for the creation of content that strikes a balance between the brand’s message and the audience’s preferences, steering clear of overt advertorial content that might alienate consumers. He introduces the concept of “edutainment”, a blend of education and entertainment, as a potent tool to capture and retain audience attention.

Goldner emphasizes the importance of tailoring content to appeal to the ideal customer while maintaining a broad enough appeal to ensure business profitability. This involves a meticulous selection of themes and topics that reinforce the brand’s stance and product positioning. He also highlights the significance of visual content, suggesting a regular cadence of photos, videos, and articles to keep the audience engaged.

Moreover, Goldner encourages companies to explore various avenues for content distribution, including owned, earned, and paid media, to build a substantial audience and foster business growth. He acknowledges the challenges posed by marketing platform restrictions in the cannabis industry but insists that these hurdles should not deter companies from adopting proven brand-building strategies.

Goldner concludes with a rallying cry to cannabis companies, urging them to embrace the comprehensive methodology he outlines, albeit gradually if necessary, to pave the path to business success. He reiterates that a well-rounded brand, product, and content strategy should be the driving forces behind communication efforts, fostering a trajectory of growth and success in the competitive cannabis market.

In a sector where many companies are yet to fully leverage the potential of brand building, Goldner’s insights serve as a valuable blueprint for those seeking to carve out a distinctive niche and achieve enduring success in the cannabis industry.

(Image Steve Goldner: Courtesy of author )

Editor: We’d like to thank Steve for his insights in this piece. Steve is a seasoned expert in providing brand, marketing, and go-to-market strategies, planning, and execution services for cannabis companies. With a rich experience spanning 20 years, he has been instrumental in driving audience adoption and growth through brand building, product marketing, content, and communication in both start-up and mature company environments.

Goldner’s journey in the marketing domain commenced with global product marketing responsibilities, where he utilized Target Market Methodology (TMM) to craft go-to-market strategies, plans, execution, and reporting. Today, he channels this extensive corporate marketing experience into the burgeoning legal cannabis industry, fueled by a passion for mainstream adoption of “the plant”.

His professional journey is marked by a series of successful stints in marketing positions for various cannabis brands, dispensaries, and ancillary cannabis businesses. Beyond his professional commitments, Goldner is actively involved in pro bono work, coaching individuals with prior non-violent drug felonies and advising non-profits aimed at steering the end of cannabis prohibition through safe and sensible pathways.

Currently, Goldner is engaged in providing marketing strategy, plans, and execution services for several clients, with a steadfast commitment to fostering audience adoption and an emotional bond to brands, which he regards as his greatest professional joy.