Cresco Labs Inc (CRLBF)

[FUNMAN]

Building A Portfolio Of Cannabis Brands

By: Paul Talbot Contributor
CMO Network, I write about marketing strategy.

https://www.forbes.com/sites/paultalbot/2020/01/13/building-a-portfolio-of-cannabis-brands/#184eb01b2cc6

Building a new cannabis brand provides more than enough challenge for any marketer.

Cory Rothschild is building eight of them.

I recently asked the SVP of brand marketing at Cresco Labs to let us know what he’s been up to creating his cannabis brand portfolio.

Paul Talbot: What are some of the most noteworthy creative challenges faced in positioning a cannabis brand right now?

Cory Rothschild: We focus on two core areas as we try to build a portfolio that connects on a fundamental level with consumers.

First, we are working to build eight distinct brands that stand for something meaningful. Whether Apple is reminding us all to “Think Different” or Nike is pushing us to “Just Do It,” there is power in brands that act in accordance with a clear purpose.

This is a major opportunity when you are building brands from scratch because you are not handcuffed by the heritage and baggage that can accompany many existing brands in developed categories.

Second, we’re creatively focused on taking those sharp positionings and developing distinctive and iconic visual identities that stand out in consumers’ minds.

Talbot: What do we know about what kind of messaging resonates with cannabis consumers?

Rothschild: One of the wonderful parts of marketing a category that has never been marketed before is that consumers do not have many preconceived notions about how a cannabis company should sound or act – and that means the mere existence of advertising is disruptive and noteworthy.

With that backdrop, we’re focused on building brands that address the key pain points that different consumer groups have and making sure we communicate how we can address those needs the best.

Talbot: In the early stages of positioning the brand, what research has been used for insights?

Rothschild: We are lucky to have the resources to learn from our consumers and customers across a variety of channels. While we have used many of the techniques that you would find in traditional industries, from focus groups to consumer surveys to value-added studies with strategic media partners, we also have the benefit of quantitative data streams that are helping us make real-time decisions.

In particular, given that Cresco Labs is not only a wholesaler of brands but also a retailer in many states, we can use our stores as a testing ground and learning lab for new products and new tactics.

Talbot: The Cresco campaign is built on a number of diverse media platforms, ranging from wall murals in Santa Monica to the San Francisco Chronicle. How have you aligned the creative to maximize the impact of these different placements?

Rothschild: We approach media planning just as I did leading teams at Gatorade – with an eye towards building a holistic campaign that drives awareness and trial with break-through, effective, and efficient media.

Normalization comes first and foremost by acting normal – so this fall we sought out high-impact digital units across premium publications like Rolling Stone, Variety, GQ, WIRED or Vanity Fair where consumers were seeing cannabis advertising just as they would traditional CPG ads on their phones and computers.

We also launched with a strong out of home presence, including murals in priority neighborhoods like Santa Monica. This allowed the brand to drive impressions in city centers where there is strong foot traffic while being compliant in a highly regulated environment.

This was complimented by Cresco’s first programmatic campaign that was executed by Centro and their proprietary ad tech.

Talbot: Tell us about the process that led to the “Excellent Everyday Cannabis” tagline.

Rothschild: Cresco is dedicated to addressing the needs of regular, experienced cannabis consumers. The majority of these individuals are high-functioning enthusiasts who enjoy cannabis on a daily basis to unlock the best versions of themselves.

Whether it’s to focus on a work assignment, capture their creative flow, or simply make everyday things more enjoyable, they have a healthy, positive relationship with cannabis. And right now, there’s no brand that speaks to how they use cannabis or their lifestyle.

So, we set out to create a new way to think about everyday cannabis. In the wild west of cannabis marketing, no one owns consistency – and so we’re the first to introduce a consistently excellent brand to the market.

“Excellent Everyday Cannabis” helps us tell that story to consumers and customers who are just getting to know the brand, with a visual and messaging system that is memorable but still extendable for years to come.