Angel Ferrer, the head marketing executive of Hemper Co., created a Twitter profile and uploaded an advertisement for the company’s products on the market, stocked with a range of marijuana accessories, in February, when Twitter allowed cannabis ads. The account was deleted by Twitter shortly thereafter. Ferrer said he would keep learning how to deal with Twitter regardless of the disabling of his initial ad.
The first big digital media site to permit marijuana advertising was Twitter, which has its headquarters in San Francisco. But there are several limitations for marketers, as companies such as Hemper are discovering.
Cannabis businesses must first obtain platform approval and adhere to other guidelines, such as having a license in areas where they conduct business and limiting their customer base to individuals older than 21. Twitter forbids the advertising of drugs and drug-related items but allows businesses to advertise their products and services. Twitter has provided a six-week promotional incentive for marijuana brands to boost marijuana ad sales.
The business announced that it will meet new advertising expenditures of up to $250,000 on a single-transaction basis. The limited-time deal is valid through March 31, 2023.
Kate Lynch, the marketing vice president for Curaleaf Holdings, expressed excitement about having a new platform to advertise the business’s goods and immediately began a Twitter advertising strategy. The corporation advertised for a fortnight to see if it would drive traffic to its website. According to Lynch, the company will shortly update the advertisement with fresh content.
The company attempted to demonstrate which burned more quickly in a video advertisement that was not accepted by Twitter: a normal marijuana roll or a marijuana cigar rolled using one of the company’s products.
Additional social media companies are likely to emulate Twitter’s example, according to several industry analysts. Will cannabis businesses, however, make a profit from their expenditures? Many people assume that sites such as Google and Facebook, which are publicly accessible companies, won’t allow cannabis ads before the substance is made legal on a federal level.
Recent changes to Google’s ad network have reduced prohibitions on cannabis and cannabidiol marketing in a few countries, but a majority of other marijuana promotion is still not allowed.
While businesses such as Purple Rose and Curaleaf can track how many website clicks their Twitter advertising generated, they are unable to discern whether those clicks were translating into actual sales.
For companies such as India Globalization Capital Inc. (NYSE American: IGC), the advertising woes faced by marijuana companies aren’t an issue because companies taking their products through the FDA-approval process follow a different path to market.
NOTE TO INVESTORS: The latest news and updates relating to India Globalization Capital Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC
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