The Importance of Branding In Colorado’s Struggling Cannabis Market

It’s been over a decade since Colorado legalized recreational cannabis, and it’s safe to say the market is well past its boom period. Consequently, many businesses in the state have evolved and established recognizable brands. This has caused many cannabis companies in the Colorado market to double down on their firm’s branding to ensure they remain afloat amid fierce competition.

Similarly, many Colorado weed companies are taking things a notch higher by expanding into different states where market conditions might be more favorable. Since most cannabis operators from Colorado have been in business for longer, their experience comes in handy when breaking into new markets. 

Customized Packaging and Branding

Jon Spadafora, head of marketing at Colorado-based Veritas Fine Cannabis, attributes his company’s longevity in the state’s market to excellent branding and packaging of goods. The company uses customized cannabis jars to package its flowers, making it distinct in the Colorado market and beyond. 

According to a recent report, Spadafora admitted that focusing on Veritas’ branding and packaging was a monumental decision that has paid off. The brand is even looking to expand into the New Mexico market next year by selling its products through a licensing partner. 

Although most entrepreneurs tend to focus on their firm’s marketing, branding and customizing product packaging are also paramount for starting a successful cannabis brand. Branding helps separate your company from competitors and is the cornerstone of a fruitful relationship with clients. 

Furthermore, using custom printed packaging for cannabis helps make your brand more recognizable. As the Colorado market becomes more saturated with cannabis brands, many entrepreneurs are looking for greener pastures in other states. For this reason, using personalized weed packaging can help a company successfully break into a new market. 

Colorado Terroir 

Industry professionals believe that with the proper marketing for cannabis and a feasible budget, Colorado has a unique opportunity to establish household names in the national cannabis market. As a pioneer in America’s weed sector, Colorado can develop a terroir-like brand, similar to how people think of wine from Napa Valley.

Although Colorado legalized recreational cannabis ten years ago, not many brands from there have become widespread nationally. One thing business owners can do to change this is to capitalize on the state’s unique climate and weather to brand their flowers and other products. 

Cannabis companies from the region can also harness artisanal marijuana. These products can expose your shop to a new market, which can help increase sales and boost revenue. 

How Colorado Weed Companies Can Utilize Branding

Cannabis businesses in Colorado can use branding in many ways to ensure they remain profitable amid adverse market conditions. A great way to do this is by borrowing a leaf from Wana Brands, a highly successful Colorado-based weed firm. Wana is an incredible marijuana brand focused on marijuana edibles and has successfully expanded to multiple states across America.

The secret to Wana Brand’s success lies in the company’s ability to utilize branding opportunities like customized cannabis bags to extend into new markets. Moreover, the company has been able to retail products in Colorado while licensing intellectual property in 11 other states. As a result, it has grown to become the top cannabis edibles brand by market share in North America.

While other brands might try to break into new markets by undercutting prices, this strategy has proven futile and impractical. Wana’s technique involves attracting customers by developing new products and innovations. 

Bottom Line

Although Colorado is one of the first states to legalize recreational cannabis, the market is incredibly saturated and almost impenetrable. Even so, branding and customization can help weed businesses in the state remain productive and expand to other markets. Mastering this aspect could be the key to survival for many Colorado-based marijuana firms.