Brand Strategist | Fractional CMO | Building high growth brands that people actually care about.
Here's a great example of a cohort, ripe for the picking, that's being virtually ignored by the #cannabis industry. And they have 💰💰💰💰 to spend. If the heart of your strategy says the Budtender holds all the keys to the city, you're likely to never secure a buy from this group. Stop spending your entire sales and marketing budget on trade shows and free samples. Instead consider, how, where and when you could connect with a specific consumer group, with a unique, value based offer. I'd bet, if an adult-use brand doubled down on serving this particular cohort with a modern wellness play, they would crack open a whole new market segment with little competition. 👀
Founder and CEO of ROAR Forward. Former President/Publishing Director, Hearst Magazines. Bestselling Author of ROAR Into the Second Half of Your Life.
This is 60-75 years old…the new face of aging. We are healthy, fit, tech savvy and lifelong learners. In this group, we are marathoners, ironmen, hikers and equestrians. We are consumers of all product categories from auto to luxury to style to travel to tech to financial and we are definitely not brand loyal. We will try a new brand and spend big bucks to do it (because we have the spending power).We don’t see images of ourselves in marketing, advertising and media. Why? Because they don’t target us. And when they do it is with old-fashioned approaches and stereotypical images of men over 60 (who only buy pharma products). It’s the same for women over 60. Time to acknowledge that the new consumer in this age group is not who you think. #ROARforward into this new growth segment with the right message and image. Ad Age Adweek Media Silver Marketing Association Association of National Advertisers Chris Boothe Paul Woolmington Jacki Kelley monica shaffer karo Tony Spring Tony Case Marc Metrick Marc Speichert Trey Laird Colleen Rizzo Colleen Rizzo Marla Kaplowitz Bill Duggan Gigi Ganatra Duff Ryan Shanks Lynn Lewis Shenan Reed Brian Dodge Carl FremontMichael Kretchmar Chuck ThomasPeter Kaldes Mark Lachs Justin Boxford Jonathan Bottomley Kristen Kneier Hill, CFA David Carey Courtney Gerber Kunzelmann Stephanie Kramer Altagamma Avivah Wittenberg-Cox Esi Eggleston Bracey Mathilde Delhoume-Debreu Vanessa Friedman James Fallon Suzanne Vranica
what are you talking about? This is the cohort who owns the industry. lol
Sarah Tupper
2mo
Cannabis brands consistently compete for such a small pool of already converted customers! If they looked beyond the trade show, vendor day, parking lot party, they’d realize what a wide demographic there truly is out there! Love this post!
Ruth Fisher, PhD
1mo
The future of cannabis is largely in the older population.
They don't own the cannabis space, they invested in it early and got the fuck out. That said the reality is high rollers are interested in what keeps them current, youthful and relevant. You will not see these men at a trade show, but you will see them at VIP galas, philanthropic events, art auctions, fashion events, private concerts and performances, private parties, yacht parties and exclusive travel events. Cannabis events are the last place this group will be, and going into a cannabis store a close second. How creative, innovative and connected you are is the difference maker. You have to be connected to infiltrate this cohort! It's quite amazing to be a part when the opportunities are available. Best of luck, but likely no one will read this and likely think I don't know what I am talking about.