Cannabis Conversation: Exposing the 5 Biggest Roadblocks to Industry Success at a recent Cannabis Roundtable

In a recent roundtable discussion, we explored the biggest roadblocks to success that professionals are experiencing within the cannabis industry. While the overall industry growth trajectory is exciting, it’s outpacing the development of tools and resources needed to leverage the massive consumer momentum. Exceptional products are being managed with archaic systems, creating a massive drain on time, resources of cannabis suppliers, ultimately hurting their potential to maximize their opportunity.

There’s also a fundamental disconnect with consumers, costing you brand equity and market share while eroding valuable dialog with the consumers themselves. . Digging deeper, this means that cannabis brand loyalty is nonexistent since consumers aren’t really aware of the brand. Sound familiar?

Let’s take a closer look at where the breakdown occurs.

1.Lack of unity across systems

Think of the cannabis industry as an archipelago.

Each island is a step in the process, from growers working their magic, to distributors moving product, to marketers communicating with the consumer and promoting the transaction at to point of sale. These islands are developing different tools and technologies to meet their immediate needs, but they’re still just that: islands. There’s dead, open space between them, creating inefficiencies on a large scale.

What’s needed is a unified system that connects the disparate islands across the supply and distribution systems, offering consistency and efficiency at every point within the space.

2. You can’t scale disjointed systems

We’ve seen first hand how many successful growing facilities still track data on basic spreadsheets, or even scribbled on legal pads.

With pen and ink.

You can get away with this for a while, but it’s simply not scalable. As the operation grows in size and sophistication, archaic tools and methods will draw more and more time and resources because they are not connected and do not provide a holistic view of your business.

3. Inefficiencies are time robbers

If you had modern and efficient systems and technology, how could you reinvest the time you’re currently losing? Here are a few of the common frustrations shared by cannabis professionals:

• You need business intelligence and insight to inform your approach to growing your brand but high volume is outpacing analog systems (that worked before, but aren’t cutting it anymore.)

• A lack of clear labeling and tracking to create an integrated process point that aligns production, marketing, and client communication is becoming increasingly problematic. In other words, there’s a growing disconnect between current systems that don’t “talk” to one another making accurate tracking more challenging.

4. No consumer conversation

Today more than ever before, consumers expect to be able to engage with a brand, do their own research, and be educated. They want to be empowered consumers, and to know what they’re purchasing and where it came from. Trust factor is of paramount importance.

Without more sophisticated technology,cannabis companies aren’t able to fully build trust or communicate the benefits of their brand. Current packaging real estate can only take you so far.

Giving the consumer…”consumption intelligence”

This exposes a major void that exists in the cannabis space right now. Consumers aren’t aware of the myriad of product options and have trouble choosing. Many are just dipping their toe into this burgeoning industry, and feel like they're at a disadvantage. What works? How will it work? Which product should be used for which effect?

Many dispensaries use their own naming conventions as well, adding to consumer confusion. Imagine if it could be made simpler, with data available from the plant’s point of origin and genetic properties, all the way to a clear explanation of how it will make you feel?

5. No feedback loop

Growers and dispensaries need more than just one-way communication with consumers. There’s an expectation in today’s marketplace that communication will be a two-way street, allowing you to engage and communicate with your target audience in a meaningful way.

This can be done through social media channels and educational content, but it can also be accomplished through the collection of marketing data and tracking. Right now, there is no mechanism for a conversation with the consumer outside of social media. With a feedback loop that is powered by packaging technology, you can learn more first-hand from the consumer sharpen your insight and approach as a business.

TrueGreen: A smart labeling technology designed for connection, efficiency and to close the feedback loop

The root of the proble is that there is currently connective tissue that creates an end-to-end tracking and communication system for the cannabis industry. TrueGreen is a smart labeling technology designed to do exactly that, drawing a clear line from seed to point-of-sale.

TrueGreen allows for a stronger, healthier consumer conversation, increasing buyers’ familiarity and trust with your brand. Opening this dialogue allows cannabis brands to better understand and market to their target audience.