The cannabis industry is growing at an incredibly rapid pace, and it’s only expected to continue to do so. According to North America Legal Cannabis Market Report 2022, the U.S. market for legal cannabis is expected to reach $38.2 billion by 2028. As the cannabis industry continues to grow, more and more companies are looking to work with public relations firms to help them promote their brand. However, finding the right cannabis PR company can be challenging, especially if they don’t know what they’re looking for or how to assess whether the firm would be a good fit for their business. That’s why it’s important to do some research before choosing a PR agency.
At Fort Lauderdale- and Aspen-based public relations and marketing agency Durée & Company, we are acutely aware that not all PR firms are created equal. Different agencies have their specialties, but some do not have the cannabis knowledge required for success in the industry. In this article, we share the top 3 tips for finding the right PR firm for a cannabis brand. But first, why choose to work with a PR company?
Why is PR so Important in the Cannabis Industry Today?
In most states, cannabis is legal in some form, but even where it’s legal, it’s still heavily regulated. Because of the stigma around cannabis, people may hesitate to work with a particular company. Plus, many industries and channels remain closed off to cannabis businesses because of the risk of federal prosecution. For example, many banks typically aren’t willing to work with cannabis companies, which makes traditional payment methods challenging. Moreover, the challenges cannabis businesses face when trying to advertise can sometimes seem insurmountable. Luckily, top PR agencies can help overcome these obstacles and open new channels for a business.
PR is essential for cannabis brands because it allows them to reach out to potential customers directly through social media platforms, special events, marketing, and advertising.
3 Tips for Finding the Right PR Firm for a Cannabis Brand
Although PR firms vary greatly, there are certain things businesses can look for when selecting a PR firm for their cannabis brand. Here are the three things to consider when assessing which PR agency to hire:
1. A Specialization in the Cannabis industry
Finding the best PR company is about the firm’s knowledge and experience in that practice area, a proven list of clients, and its ability to effectively come up with a strategy that moves the needle for each client. A customized plan built on the client’s business needs and goals is vital. A good agency will be able to deliver this and establish a longstanding, successful relationship with a client.
At Durée & Company, we work up and down the cannabis supply chain and represent companies that include labs, growers, CPG companies, MSOs, payment processors, and much more.
2. A Great Track Record
A good PR company should have worked on cannabis-related projects in the past and has experience with how things work in this industry. The best way to find out if a company has experience working with cannabis brands is by asking them directly about it during the initial consultation call or email exchange. It will help prevent any surprises later down the road when a brand has already invested in working with them on an ongoing basis.
3. Look At Their Portfolio of Past Work
A PR agency that can show off previous successes with brands can provide a good idea of what kind of work they do best will be helpful to any inquiring company. This information should be readily available across their social media channels, website, marketing deck and other channels.
A PR firm can be an essential part of a cannabis business marketing strategy, especially as a company grows and evolves. But before hiring a PR company, it is necessary for companies to do some research to find the right fit for their business needs. Ask for references and read reviews, check the firm’s track record, and negotiate a contract. Stay engaged throughout the process, even after the campaign ends.
About Durée & Company
Durée & Company, Inc. is an award-winning, full-service public relations, marketing and special events firm founded in 1999. The firm has offices in Fort Lauderdale, Florida, and Aspen, Colorado. Durée & Company serves the corporate, agency and nonprofit practice areas for local, national and international clients. Services include public relations, social media, marketing, content development, advertising, special events, branding, radio promotions and more. Durée & Company clients include well-known names in business, fashion, hospitality, travel, health and wellness, cannabis and hemp, psychedelics, technology and cryptocurrency, marine and yacht, art and culture, nonprofit organizations, legal and professional services and real estate. Durée & Company is a member of PR Boutiques International™ (PRBI), an international network of boutique PR firms. To learn more, call 954-723-9350; go to dureeandcompany.com; cannabismarketingpr.com; or psychedelicpr.com. Join the social conversation and follow Durée & Company on Facebook, Instagram, Twitter, YouTube and LinkedIn at @DureeCoPR.