Nearly Half of Cannabis Marketers Have Budgets Less than $50,000

WASHINGTON — NXTeck, New Frontier Data’s AdTech division, and the Cannabis Marketing Association announce the results of a survey in a new report, 2022 Cannabis Digital Marketing Survey: How Cannabis Marketers Are Chasing Their Share of a $32 Billion Market. The survey targeted industry marketers to better understand and benchmark the current state of cannabis marketing with a focus on digital marketing. Among the key themes that emerged:

1. More than 80% of cannabis marketers reported difficulty getting the right message to the right audience.
2. Cannabis marketers currently focus a lot of their limited resources on social media and other top-of-funnel brand awareness campaigns.
3. Most cannabis marketers work with shoestring budgets; nearly half of all respondents reported having annual budgets less than $50,000.
4. Cannabis marketers are misusing or underusing channels that perform well, presenting strategic opportunities to improve results from bottom-of-funnel efforts like email marketing and programmatic advertising campaigns.

“This survey confirmed a lot of what we hear anecdotally: marketers have ambitious goals but work with limited resources when it comes to budgets and staff,” said Gary Allen, CEO of New Frontier Data. “Thankfully, lessons learned in mature industries have fast-tracked the arrival of technologies and data that can quickly solve for these challenges and shift the focus to revenue growth.”

The report release coincides with the Cannabis Marketing Summit, June 7-9 in Denver, Colorado. Presented by the Cannabis Marketing Association, NXTeck is the official data partner and Bronze Sponsor for the summit. Survey results will be included in various panels and speaker remarks throughout the event.

“The Cannabis Marketing Summit provides the best opportunity for cannabis marketers to gather, share their knowledge and learn best practices from industry thought leaders,” said Lisa Buffo, founder and CEO of the Cannabis Marketing Association. “The survey provides an excellent foundation for two days of spirited discussion and education on cannabis marketing.”

Download a complimentary copy of 2022 Cannabis Digital Marketing Survey: How Cannabis Marketers Are Chasing Their Share of a $32 Billion Market: https://newfrontierdata.com/cannabis-marketing-toolkit/#CDMS

About NXTeck

NXTeck is the AdTech division of New Frontier Data, the premier data, analytics and technology firm specializing in the global cannabis industry. The only solution informed by location, point-of-sale, social science and consumer data, NXTeck offers audience insights to inform smart marketing strategies and attribution reporting to optimize the impact of digital activity. The NXTeck DMP is the largest set of U.S. cannabis consumer data available in the market with 164 million marketable cannabis consumers, 35 million dispensary visits and 64% of the U.S. POS market. NXTeck complies with domestic and international regulatory legal parameters and enables both legal cannabis brands and mainstream CPG advertisers to deliver targeted, tailored, and scalable campaigns. For more information, visit https://www.NXTeck.com.

About the Cannabis Marketing Association

Cannabis Marketing Association is a national membership-based media company focused on education and best practices for cannabis communications professionals. With members in nearly all 50 states with combined multi-billion dollar budgets, CMA membership consists of cannabis brands, retailers, marketing agencies, and related service providers who are leading advertising and communications in the global cannabis industry. CMA’s content and conferences educate, connect, and uplift the cannabis marketing community. The annual Cannabis Marketing Summit will be held June 7-9 in Denver, Colorado. For more information visit, https://thecannabismarketingassociation.com/