Cannabis Product Development: Key Tenants to Success

A Breakdown of What Goes Into Developing New Cannabis Products

The cannabis industry continues to grow with more and more states legalizing medicinal and recreational cannabis, and with this growth comes the need for cannabis product development. New brands and products appear in the cannabis industry every day, and formulating a gameplan on what segments to target with a new product and how to market it is crucial to success.

In this blog post, we'll explore what cannabis product development is, why it's important, and the key tenants involved in doing so.


What is Cannabis Product Development?

Cannabis product development is the process of creating and bringing new cannabis products to market. It involves conducting research, developing new products, and ensuring that they meet the legal requirements set by the government – often a tall order in itself with the strict rules set on the cannabis industry.


The cannabis industry is still in its early stages, and there is a lot of room for innovation and growth. Monitoring trends and having an agile approach allows businesses to stay ahead of the curve by creating new and exciting products that meet the needs of their customers.


Some products such as flower are consistently popular, potency and terpene content have been increasingly important to consumers but strains such as Sour Diesel and White Widow have been mainstays that many brands have had success selling for years - with no sign of slowing down.


On the other hand, other forms of cannabis products such as vapor and edibles are often frequently evolving, and many brands are racing to bring innovative cannabis products to market.


Key Tenants of Cannabis Product Development

There are several key tenants of cannabis product development that businesses need to keep in mind to create successful products.


Research and Development:

Conducting research is a crucial part of cannabis product development. This involves understanding consumer needs and preferences, as well as conducting research on new and innovative ways to use cannabis.


Compliance:

Compliance is another critical aspect of cannabis product development. Businesses need to ensure that their products meet the legal requirements set by the government, including regulations around THC content, packaging, and labeling. Vermont and Connecticut are two recreational states that have already passed legislation limiting THC potency in cannabis products, and with laws frequently changing it’s important to plan ahead as much as possible. Monitoring legal changes in prospective state markets helps reduce the chance businesses will have to make a hard pivot midway through the development process.


Quality Control:

Quality control is essential to provide customers with a safe and consistent experience. It involves testing products to ensure that they meet the highest quality standards and are free of contaminants. Each state has different rules and tests that must be run, and each batch needs to be tested by an independent lab for potency, cannabinoid content, and contamination such as heavy metals or mold.


Packaging and Labeling:

Packaging and labeling are also critical in cannabis product development. The packaging should be both attractive and informative, providing customers with information about the product, including its THC content, dosage, and potential side effects.


At Green Leaf Marketers we have an expert compliance team to ensure that labels and packaging meet the requirements for the state where they will be sold, whether medical or recreational cannabis. We offer custom branded labels with compliance frameworks in seven states. We also offer a range of customizable packaging including mylar bags, jars, cones, grinders, and more.


Marketing:

As always, marketing is a vital aspect of product development, and this is especially true in the cannabis industry. A solid marketing strategy can help businesses promote their products and reach their target audience. It's important to keep in mind that cannabis marketing regulations can be restrictive, so businesses need to be creative in their approach.

 

Direct mail marketing is a frequently underleveraged channel in the cannabis industry we believe in and one that can drive success in both reaching other businesses and consumers.

Internet and email also remain core components of effective brand and product development.


Having a solid website and social media presence helps establish what the brand is all about, and offering promotional products essentially adds another range of products to your business and doubles as another form of advertising.


Cannabis brands frequently use print marketing, and it remains an effective component in networking to get new products on shelves, including business cards, brochures, or flyers.


Challenges of Cannabis Product Development

Few things in the cannabis industry are without its challenges. Some of the most significant challenges include legal restrictions, limited research on cannabis, and changes in consumer demand and preferences.


Legal restrictions can be challenging to navigate, as regulations can vary from state to state and country to country. Limited research on cannabis also presents a challenge, as there is still much to learn about the plant and its potential uses in the medicinal sector.


While some products are relatively constant in popularity, changes in consumer demand and preferences mean that businesses need to be adaptable and ready to pivot as needed.


From Product Development to Success

Having an effective approach developing cannabis products will always be evolving and always be crucial to business success. By conducting research on what consumers want and filling gaps in the market, ensuring compliance, maintaining quality control, creating attractive packaging and labeling, and developing a solid marketing strategy, businesses can create successful cannabis products. The cannabis industry can seem tumultuous at times, but the opportunity remains for up and coming brands to make their mark and create wonderful new products.


At Green Leaf Marketers, we strive to provide cutting edge marketing solutions to cannabis brands big and small to meet their needs and get noticed. We work both in B2C and B2B marketing, connecting growers to dispensaries, dispensaries to consumers, and eliminating the struggles new cannabis brands face.


We serve the cannabis industry with direct mail marketing, print marketing, labeling and packaging, and promotional products.

 

Our Compliance team stays up to date on the latest in advertising restrictions and leaves no stone unturned - without the risk of pushing the many restrictions inherent to cannabis marketing.

If you are a new or established cannabis producer and want to take your marketing strategies to the next level, contact Green Leaf Marketers using the form below or email us at info@greenleafmarketers.com.

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