The cannabis industry is making billions of dollars in revenue, and its target audience is responsible for it. The target market for cannabis is not as simple as one would assume from an up-and-coming business. The variety of people and businesses interested in cannabis shows why it took only less than a decade to achieve billions of dollars in sales and investments.
What Is the Target Market for Cannabis?
The target market is the center of a business's success. Any business, small or large, needs a target customer that becomes the focus of its marketing strategy.
For example, an herbal medicine company would target people who are either using or showing interest in herbal medicine. If they start targeting people who do not believe in the effects of herbal medicine, they’d be wasting money on marketing campaigns.
Similarly, cannabis businesses need a target market to determine their customers and only use marketing strategies directed at them. Since there are several cannabis products, a company needs a target market to determine its customers.
Edibles have a different cannabis target market than concentrates. Some young people use cannabis for recreational purposes and middle-aged ones who may use it for medicinal purposes. Here is the demographic of cannabis users in 2020:
There does not seem to be a lot of difference between medical and recreational cannabis use. This implies that the target market for cannabis is somewhat similar to companies selling medical or recreational cannabis.
While this data provides a technical picture with numbers, it does not tell us the role of customers in society and how a cannabis company can go about targeting them as customers.
5 Types of Cannabis Customers
The data about generations determines how a cannabis company would target its ideal customer. However, an in-depth research is required to determine whom to target from that generation. If there are 42% of millennials use cannabis for medical intents, the rest are not the target audience for any cannabis company.
As soon as a company knows its real-life target customer, it will be able to plan its marketing strategy and figure out the message that would get its ideal customers' attention. Here are the five main types of ideal cannabis customers:
People with Life Goals
Once considered a drug that kept people away from their life goals is now legalized. Cannabis was not liked by many people for its effect on the mind, and that's one of the main reasons it took decades for cannabis brands to change their perspective. However, now we know that at least 84% of users are full-time employees who use cannabis to stay focused in their lives.
They do not overdo it to detach themselves from reality completely. They have goals that burden them every day, and that's what a cannabis brand must target. While a user can find its cannabis like people have been doing for ages, targeting customers directly creates loyal users who stay with the brand. That's what you should be aiming for!
People with Kids
Parenting has never been easy, but most parents do not have the means to try recreational medicine. Also, cannabis was illegal to use! However, that ban has been lifted, and cannabis is in the process of being legalized countrywide, making parents a huge target market for cannabis companies.
Smoking a joint is acceptable for parents (only when kids are not in their company). Recreational cannabis, specifically, gives them the mental relief they need at the end of the day. It provides cannabis brands to seek out different types of parents and prepare marketing material that speaks to them.
People with Medical Conditions
It would be impossible to reject the medical uses of cannabis now that it's legalized. Many people from different generations use cannabis to treat medical conditions. From mental health issues, such as anxiety, to ailments like insomnia and migraines, cannabis is proving to be useful for a range of medical conditions.
Marketing for the cannabis industry brands can improve by using this interest as a major part of their promotions to target audiences looking for medical cannabis. This group of people is not interested in using cannabis for recreational reasons. They only want to treat a condition that’s been keeping them tensed and stressed out.
People with a Knack for Experimentation
Creative people are the reason the cannabis industry still stands! They are the creators and providers of the cannabis community, so targeting them is not that complicated. One would think that, but it's not true! Artists and creatives are well-versed in the different types and brands of cannabis, so they are picky and only choose the products that help them increase productivity.
Targeting such people can be challenging unless a cannabis company has a top-quality brand and a skilled marketing team. If you are to reach this group of people, you will have to prove that you are not an outsider. Once they accept you as your own, your brand will be acceptable to them.
People with the Knowledge of Cannabis
While artists are aware of what they need, there are experts who know everything about cannabis brands and their products. This is the target market that keeps the industry alive. They are devoted fans of cannabis who want to see the industry prosper.
These experts know about methods of using cannabis, different strains and their uses, and how to inspire non-users to try it. Such people can only be convinced using data and information that states facts. Emotional jargon in the marketing campaign will not work on this target market.
The cannabis industry does not have a general target market. Due to the bias of millions of people, the industry brands have to be very careful in creating their marketing campaigns. Despite the legal stamp, marketing for the cannabis industry is a challenge. Nonetheless, if a company has great products that will help people, they should only need to find their target market and market to them.