EXCLUSIVE: Emotional Connection With Consumers Is Secret Sauce For Any Brand To Prosper, It’s Same With Cannabis, Experts Say
“Brands emotionally connect with consumers… in order for your brand to resonate, you have to emotionally connect with the consumer.” That’s according to Richie Proud, CEO and director at iAnthus Capital Holdings Inc (OTC:ITHUF).
He told the crowd gathered last week at the Benzinga Cannabis Capital Conference in Chicago that understanding how cannabis products meet consumers’ needs — like aiding sleep or appetite — is crucial for a cannabis brand’s success. Instead of focusing on pricing and potency, the focus should be on clearly articulating the benefits of cannabis products.
“There are certain ways that the cannabis plant will be able to benefit you and that’s the in-state of that product and we’re learning how to balance all of these kind of conversations together,” Proud explained.
Proud, alongside three other industry experts, joined the panel moderated by Tim Seymour, portfolio manager of the $CNBS Amplify Seymour Cannabis ETF (NYSE:CNBS), to discuss how retail prowess translates to wholesale success through streamlined operations. Jon Levine, CEO of MariMed Inc (OTC:MRMD), Sandy Li, CFO of Wana Brands and Jamie Mendola, chief business development officer of GM of the western region at Ayr Wellness Inc (CSE:AYR) (OTCQX:AYRWF) were also on the panel.
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