How to Launch a New Cannabis Product Successfully

Nailing the product launch process is a must to get your new cannabis drops on your customers' radar and the love they deserve. But launching a new line requires more than just a great idea; it demands strategic planning, meticulous execution, and a deep understanding of the market.

A successful product launch is all about getting the right message out to your target audience. With the right product launch planning behind you, all that's left is for your product to speak for itself.

1. Market Research and Product Development

Your first step is to conduct thorough market research to identify gaps in the market. Your new product must differentiate itself from existing offerings, focusing on quality, innovation, and consumer appeal.

The most successful product launch strategies will be based on customer feedback and product discovery, a process that helps cannabis companies pinpoint how their product can distinguish itself and identify the gaps in customer needs it solves. You will then develop your product based on insights gained through your market research. 

Factors that Influence Customer Choice When Purchasing Cannabis

Launching a new cannabis product is your chance to bring something fresh and innovative to the market. However, innovation isn’t the only factor that influences customer choice when purchasing cannabis-based products. A systematic review into what influences purchase choice for cannabis products found that a range of factors shape customers’ choices:

Source

Your product must therefore be developed taking all the above factors into account. The narrative you then create must help your target audience understand why they need your new product, how it will solve a latent want or need they are not having met, and instill a FOMO that compels them to purchase it. To get the messaging right, you need to know the answers to these questions:

• Why should customers choose your product?
• What are the specific pain points your cannabis product solves?
• What does your product do better than others on the market?

A clear vision from the outset will help you launch your product successfully as every other step of the process—from packaging to marketing—will align with the path you take during the product development stage.

2. Write a Product Launch Checklist

A product launch checklist will keep you focused on the essential tasks for your launch and ensure nothing slips through the net. Check off tasks as they're completed and categorize them by group or by the team member responsible for them.

Product Launch Checklist Must-Haves

Launch checklists are rarely generic as each business's needs and priorities are different. However, the following action items are a great start:

• Define your target audience. For cannabis you are looking more at age demographics, nostalgic interests, and lifestyles, The best new products allude to something that surfaces these feelings.
• Create a timeline for your product launch detailing every step of the process and the intended launch date. This should have cross functional visibility, with ETAs and charts (GANTT charts, etc.) so cross-functional personnel know their deadlines and dependent tasks.
• Identify KPIs. These can be based on historical analysis, customer research, potential market impacts, and commitments from partners regarding inventorying. 
• Select your distribution channels if you're a new brand.
• Craft a brand identity and marketing messaging that aligns with your brand's mission and values.
• Test and gather feedback. This could be in the form of a soft launch in which you release your product to a select group of existing customers. Gather feedback and use it as a basis for your next moves.

3. Branding and Packaging

Your branding and packaging play a crucial role in developing your brand identity and conveying it to potential customers. It’s estimated that brands have around seven seconds to make a positive first impression before the customer moves on to another option. This means your packaging is a critical factor in influencing new customers to choose your product. 

However, stunning design is only one consideration for cannabis brands. This is because they must also guarantee compliance with complex regulations that differ from state to state. That’s why working with a specialist cannabis packaging company is vital for creating visually appealing designs that meet compliance regulations in the states you sell in.

The Importance of Brand-Aligned Packaging

Packaging is the accent mark on your product, especially when you market your product as premium. Packaging quality should match the quality of your yield and stand out with brand identity packaging that aligns with your values. 

Remember that effective packaging will significantly influence consumer perceptions, drive brand loyalty, and tell the consumer everything they need to know about your brand at a glance.

Apart from packaging and logo design, value-added details and premium design capabilities like gloss finishes or holo treatment make your fire product burn even brighter. Our experts can advise you on how to align your packaging with your brand to create a final product customers can’t help but notice.

4. Keep All Cannabis Branding and Messaging Consistent

Product launch success is only possible if your customers understand what your new product offers and why they should try it. Keeping your company's branding consistent is vital leading up to a product launch. 

A consistent brand image builds trust and identification among your customers. This step is particularly important if you're introducing a novel or groundbreaking product that can shake up the cannabis industry.

It’s helpful at this point to create an internal and external style guide. This will help you keep everything aesthetically and ideologically consistent. This guide will also be an invaluable tool when discussing your options with your cannabis packaging company and web designers.

Compliance needs at a state level around packaging can create difficulties in keeping branding and even messaging consistent. In the event this happens, make sure your team is aligned on the branding exceptions you will allow in order to be active in a specific market.

Ensure Cannabis Packaging Compliance

Cannabis brands face unique challenges in launching products due to the web of regulations they must adhere to. The lack of federal regulation surrounding packaging and advertising has led to a fractured market where brands must be aware of the laws in each state they sell in. This makes establishing a consistent national brand a challenge.

Among the 31 states that allow cannabis advertising, 74% prohibit appealing to minors, while 68% explicitly prohibit making false or misleading claims. Cannabis brands must therefore look to professionals with expert knowledge of the ins and outs of cannabis marketing to ensure their business isn't hit by costly fines for compliance violations.

The regulatory process is often slow, so having an agile packaging partner that can adapt to the changing landscape at super speed when changes do come in is a huge plus.

5. Create Social Media Marketing Buzz

Generating buzz around your product will get your customers excited about your launch and raise awareness of your brand. Creative strategies are often effective, but keeping your social media campaigns within the bounds of compliance regulations and social media guidelines is a must. 

Social media is an invaluable resource for any modern brand, so risking violating platform rules and a subsequent ban could be devastating to your marketing strategy and damaging to your brand reputation. 

Channels like Instagram, Reddit, YouTube, and even LinkedIn are all places you find cannabis consumers and get organic reach and promotion of your new product drop from online channels. 

Ensure your digital marketing team is up to speed with all the legal aspects of marketing your products online so they can build campaigns that excite and interest customers while staying compliant. 

Posting teasers of your product or collaborating with influencers or cannabis journalists can build hype around your product before its launch.

6. Make the Most of Your Launch Day

With everything there is to take care of leading up to your product’s public release, launch day often arrives before you know it. Your launch day is a huge opportunity to give your product the boost it needs and entice customers with unmissable offers. Use all the resources you have available—both online and in-person—to create as much buzz as possible around your new product.

Consider the following options to get your product noticed:

Hold a Launch Event at Dispensaries

A well-executed product launch is your opportunity to show the team behind the product and meet the people who will become loyal customers. Hold an in-person launch in a dispensary that sells your products or go all out with a more creative idea that will get people talking.

Entice Buyers with Special Limited Launch Offers 

Part of creating media buzz is creating anticipation for your launch. Marketing campaigns like limited-time launch discounts, BOGO offers, free shipping, or voucher codes could be fun ways to entice early buyers. 

Remember to always check compliance regulations surrounding cannabis marketing (and delivery) to keep your advertising and marketing on the right side of the law!

Maintain Open Lines of Communication for a Smooth Takeoff

Putting in so much prep work for your launch means your big day should go over without a hitch. However, unexpected issues can arise. These could include website sluggishness due to increased traffic, high demand causing stock limitations, or the need for a high level of customer support as customers choose and pay for their products.

These are problems you need to deal with as quickly and efficiently as possible to ensure your product doesn’t fall at the first hurdle. Ensure all hands are on deck to help your day go as smoothly and profitably as possible!

7. Keep the Momentum Going Post-Launch

After launching the hottest new cannabis product on the market, you must keep the momentum going. Your product will likely be making waves in the industry; this buzz is what you need to get more people aware of your brand and what it offers.

Your marketing and customer support team must be ready to handle questions and follow up with new customers. This is the perfect time to connect with your customers personally. Encourage them to post reviews, share photos or videos of the products in use, or answer questions your early customers have.

Keep Up with Demand With Agile Packaging Solutions

Agile cannabis packaging solutions mean your company is ready to handle a surge in demand around your launch day and beyond. Highly adaptable packaging solutions are crucial in the cannabis industry as the packaging you need is determined by plant yield. 

Your launch is another factor that influences how much packaging you need. It’s difficult to accurately foresee how successful your launch and the days and weeks after it will be. In this case, you may find yourself needing packaging quicker than you were originally planning for. This is why packaging plays a key role in increasing speed to market and keeping up with demand.

Imagine for a second that your launch is a flying success but you don’t have an agile packaging solution to fulfill orders. This nightmare situation could seriously dent your company’s reputation and your customers’ will to order again. 

Luckily, this problem has an easy solution: trusting a specialist cannabis packaging supplier like Vert that smooths out bottlenecks by offering a diversified packaging platform and quick turnaround times. This means your packaging will be with you in a question of days, not weeks or months.

Plan for a Successful Product Launch

A successful launch is a multifaceted endeavor that demands meticulous planning, unwavering compliance, and a keen understanding of the market. Prioritizing thorough market research, investing in high-quality production, crafting a compelling brand narrative, and counting on agile packaging solutions empower budding cannabis businesses to position their products for success. 

The cannabis industry is dynamic and ever-evolving, requiring agility and adaptability. With a strategic approach and agile vendors, your new cannabis products can thrive on their launch day and for years to come.