With the close of 2023 rapidly approaching, we are starting to look forward into 2024. On December 5th at 1pm CST, we will be hosting our final Virtual Strategy Summit of 2023. Please sign up here and join us as we break down the Top 10 Things to Know for 2024!!
Before we close the book on 2023, we wanted to look back at some of our takeaways from our Virtual Strategy Summits. We appreciate our panelists taking the time to share their valuable expertise and really enjoyed hearing from experts that are working with these accounts every day. Our team learned a lot from these calls and hope you did as well!
In case you couldn’t join one or need a quick refresher, here are some of the things that stood out to us:
- Over 55 is a target demo for many cannabis advertisers.
- Some of the advertisers are fully integrated with growing their own to having their own brands/products to having their own dispensaries.
- Growing number of advertisers in this space that are not strictly cannabis companies (such as breweries with THC infused drinks). Some well-known brands are using messaging targeting cannabis users.
- Targeting is more mainstream. Less of a need to target “cannabis users” and more of a need to target larger audiences.
- Tracking conversions is key for most cannabis clients.
- A lot of promotion of loyalty programs, rewards, & deals
- Programmatic is generally the top digital choice due to restrictions on promoting it elsewhere.
Education (Click for the Recording)
- Campaigns are generally multi-channel and multi-program.
- Additional opportunities beyond recruitment of new students such as athletics, donations, and more.
- Increase in campaigns promoting private and charter schools for primary education.
- Different decision makers for different departments and locations which can open additional budget opportunities.
- Campaigns need to focus on full funnel approach and creating awareness before focusing on conversions.
Entertainment (Click for the Recording)
- Since Covid, advertisers’ budget & strategy has shifted to closer to the event with shorter campaigns and higher frequency. This means a lot of creative swaps highlighting pricing changes and low inventory.
- Increased adoption of using 1st party data & their audiences
- Entertainment budget is often separate from other marketing budgets. This is your opportunity to land & expand!
- Budgets shift from campaign to campaign due to shows selling out and new shows being added.
We look forward to seeing you on Tuesday!