MJBizMag July 2020 - 51

basic guidelines to avoid being banned.
According to Mannix, these include:
* Ensuring your posts are more
educational and informative
than sales-related.
Recessions can be an
optimal time to offer
discounts or value
product lines.
Photo by Adam Amar
* Never marketing to the
younger-than-21 demographic.
* Avoiding slang terms such as
" weed. "
Another way to take advantage of
the essential designation, Heckler
said, is to tell personal stories through
customers-the veteran, the cancer
patient, the stressed parent-about why
cannabis is indispensable to them.
" Give those individuals an
opportunity to tell their story, " he said.
" The common denominator is trying to
find a personal connection. "
He added: " It's important to do
something to acknowledge the fact that
things are different right now. ... If you
don't address anything, then you end
up looking irrelevant, like you're not
involved, " Heckler said. " Then address
the future. Give them some insights on
what you're planning to do ... and what
your goals are. Show that you're not
stagnant. " This could be done with short
videos, newsletters and other ways your
business communicates with customers.
Mannix agreed. " It's a really good
time, if you haven't already, to refresh
your brand a little bit and just make
sure your messaging is in line and
current with the new times we're in.
Just showing your customers that you're
practicing safe guidelines. "
Consider a Brand Makeover
If you aren't satisfied with your business'
name, logo or other brand attributes, a
recession can be a good time to make a
change. While changing names and other
brand components sounds daunting,
the longer you wait, the harder it gets,
Heckler said.
" It's stepping back and saying, 'What
does our brand look like? Did we actually
name our company in a fashion that's
going to help us long term to build a
brand identity effectively?' " he said.
afford because of their premium status.
It also may be a good time to roll out
less expensive products that appeal to
new customers without damaging your
brand's premium credentials.
" There're a lot of premium brands that
Tye Heckler
For example, consider your logo and
design. Should the existing logo be
tweaked or replaced entirely?
A name change is also a great
opportunity to talk about your business
with your customers.
" You have an excuse as a company
to talk about yourself and why you're
awesome without sounding like you're
bragging. You have to tell them, 'Hey,
we've changed our name to X because of
XYZ.' This gives you a chance to reinforce
your brand's attributes and your values
as a company and as a brand, " Heckler
explained.
Weigh Discounts,
Cheaper Products
Recessions are also opportunities,
especially for premium brands, to
offer discounts that they usually can't
are very sensitive to offering discounts.
It's just not part of their premium brand
position. It's kind of an opportunity to do
it and get away with it without damaging
the premium nature of the brand. People
understand it's just a different time, "
Heckler explained.
It's also a good time-especially if
you're a premium cannabis brand-to
consider coming out with a more broadly
accessible and affordable product line.
" It's tailored to a broader audience.
It's more approachable from a price
perspective. It's good quality but not top
tier. That's a good offering to have to
broaden your market and still keep the
high brand equity, halo-quality position
of the parent brand. "
Not all companies have the capital
to do this, Heckler warned, and if you
can't afford it, fall back on the strategy of
strengthening your brand's bonds with
existing customers.
" It's a great time to do that stuff right
now so that you can get yourself squared
away and enhance your presentation in
your marketing communications. And
then, when things open back up, you're
positioned in a way that's going to take
advantage. "
July 2020 | mjbizdaily.com 49
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MJBizMag July 2020

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