As you likely know, we are in the midst of a “shroom boom” and a “green wave”, with psilocybin mushrooms, marijuana, CBD, and psychedelic substances receiving a lot of media attention. In many states, these substances are either being pushed towards decriminalization or being heavily researched in their use for therapeutic purposes.
The Growing Psychedelic Market
The FDA has now approved a form of ketamine to treat depression. Psilocybin has also been used in medical settings for treating anxiety and depression. Celebrities, including actress Michelle Rodriguez, have spoken openly about using psychedelics in their therapeutic practices. We are living through a psychedelic renaissance, and the industry is projected to reach $6 billion+ by 2017. This is a huge market to tap into.
The 2018 Farm Bill officially legalized hemp and removed it as a controlled substance. As a result of this, the CBD industry has grown massively. However, there is still some consumer education needed. The state heavily regulates medical and adult use of marijuana, and the FDA is currently supporting solid research into the potential health benefits of cannabis products.
Work Within the Law
There are certain limitations in place when it comes to marketing psychedelic products. This includes restrictions around using social media, Google, and broadcast networks. There are still many safe and approved channels of communication that can be utilized, though.
There are many well-known print publications and online outlets that have a big audience and are open to talking about these big, emerging markets. Forbes and Vice both openly discuss the emerging psychedelic trends.
You can publish thought-leadership articles to gain publicity. You are allowed to publicize scientific studies on social media. There are also many industry events you can take part in, where you can meet many like-minded people and potential customers. Virtual communities where people are actively interested in the psychedelic field are also a good bet.
Despite the limitations, there are always new opportunities opening up. You can strategically market yourself while exercising sensible caution.
Define Your Target Customers
The first step in creating any successful marketing strategy is identifying your target customers. Your market might be much broader than you think. While millennials are likely to be your primary target audience, studies suggest that Gen Xers and baby boomers are actively engaged in the psychedelic market.
Deepen Your Appeal
According to studies on cannabis brands and consumers, even people who identify as recreational users also say that wellness is one of their primary motivators for consuming cannabis. Perhaps the old stereotypes about the kind of people consuming these products need updating.
Consumers use psychedelics for a variety of reasons. Your marketing can and should appeal to multiple audience segments.
Paying attention to consumer demographics is essential when it comes to brand appeal. Wellness seems to be valued by people across all demographics, and you may want to consider this when thinking about your customer’s pain points and relevant marketing strategies.
Develop Your Brand Profile
Your logo, choice of colors, typeface, and the “voice” you speak in are all essential in creating your brand. This applies both online and offline. Trying to stand out in an emerging industry can be tricky when you need to work within certain legal limitations.
Facebook, Instagram, and Twitter will be ruthless when it comes to mentioning certain substances, and you may get banned. You are also not allowed to make any health claims about any substance that has not been approved by the FDA.
You need to think about how to convey a positive message while working within these limitations. You must be able to attract consumers without negative repercussions.
Educate Without Lecturing
There have been decades of negative propaganda about many psychedelic substances. Psychedelic products are still likely to be stigmatized by this negative public image. You can find simple ways to educate consumers about some of the benefits of psychedelics and psychedelic products.
Give accurate information and position yourself as a trusted authority. Use content marketing that utilizes effective SEO. This will help to lift your business page up in search engine rankings. Providing information can help to engage potential customers and grow your audience.
Diversify Your Marketing
Relying on one channel for marketing will undoubtedly lead to failure. You need a website and an effective SEO strategy. You can also develop a presence on social media, as long as you are very careful about the words and pictures that you post.
You must curate and create content that will appeal to different audiences according to each platform. Adding social media influencers can help to elevate your company’s brand, bring in new audiences, and gain potential customers.
Adopt and Adapt to Different Marketing Channels
To get around all of the online restrictions, you can try other forms of marketing. This can include building an email list. Many people use email lists, which can be much more personal than other forms of online marketing. Email lists can be used to promote products, give information, or provide newsletters filled with investment ideas.
You may find the old-fashioned marketing channels are the best bet. These forms of marketing create an entirely different kind of audience engagement. Old-school advertising is often more personal and direct and can be better for attracting local markets.
Networking and wellness events could introduce you to customers that are already interested in natural wellness products and may be more open-minded. You could offer current research and knowledge alongside your products.
The psychedelic market is booming. It will only grow in the coming years as we see more and more mainstream adoption of all kinds of psychedelic products. To position yourself well to take advantage of this, you need to think about you are marketing your products,
There are a lot of limitations when it comes to certain online platforms. However, this can be worked around, and you can still create a highly successful marketing campaign to promote your psychedelic brand. Using some of the tips from this article may help you in your quest to reach a large audience and build strong customer engagement.