Legal cannabis—medical and recreational—is a burgeoning opportunity for cannabis entrepreneurs like retailers and growers. It’s also a wide open opportunity for the larger ecosystem that supports this industry, including design shops, ad agencies, and media organizations.
I recently had dinner with an account executive in Portland and asked him who was knocking on his shop’s door. The answer in Denver, Seattle, and Portland marketing circles is increasingly becoming: “Legal cannabis businesses.”
According to Fortune, the size of the legal cannabis market could hit $6.7 billion in sales this year. With states like California voting in November to legalize recreational sales, the numbers will continue to rise at a dizzying rate.
Despite the numbers and cash reserves, I’m seeing a lot of borrowed equity, weak puns and other amateur efforts when it comes to cannabis advertising. Let’s hope the quality of the advertising improves significantly, as purveyors become more sophisticated marketers.
As for the “QVC of Cannabis,” good luck keeping up with Green Flower Media.