There are certain forms of cannabis that are perfectly legal in various countries around the world, but the laws and regulations are constantly changing.
There’s also plenty of stigma along with misinformation in the cannabis industry which tends to make room for changes in public policies, and that, in turn, has given way to fierce market competition.
That means companies in the cannabis industry need to use public relations to position themselves as industry experts, generate brand awareness, and create plans to deal with different types of situations they might find themselves in at various points in the future.
There’s always a potential for companies and the public or media outlets to misunderstand each other in communication efforts.
In fact, this has happened numerous times in the past to plenty of businesses, and generally because confidential information has been leaked to the public or the press, or because of ongoing legal issues.
No matter the reason why there’s suddenly a lot of public backlash toward a business, it’s important to utilize public relations strategies during those times. With the help of public relations, companies can navigate all sorts of potentially negative situations that can damage their reputations.
Crisis communications specifically, entails creating a crisis PR team and a plan on how to respond and proceed during different types of crisis situations that companies can go through.
That strategy can help companies navigate crises more effectively and mitigate the risks of reputational damage.
The value proposition is simply the reason why a brand exists and should provide an explanation as to why consumers should be choosing a company’s products.
Highlighting the value proposition is quite beneficial to brands in the cannabis industry, as they can use this strategy to set themselves apart from their market competitors while still creating a relationship with their target audiences.
There are plenty of ways that companies in the cannabis industry can figure out their value proposition, but it should always be centered around something that makes the brand stand out from the crowd.
That can be anything from how the company came into existence, the way that it uses sustainable practices in its business operations or product development process, as well as the fact that the leadership team inside the business is made up of people from minorities and underrepresented communities.
When companies are able to highlight the value proposition to their customers, they end up increasing the customer retention rates and letting the target audience know that they’ll be choosing to do business with a company that does things right when they make a purchase.
With over 20 years of experience crafting and executing powerful narratives, Torossian is one of America’s most prolific and well-respected Public Relations professionals.