Industry insiders say that Twitter’s recent policy change allowing state-legal marijuana businesses to advertise and market on the platform is a positive development for the sector and may prompt other digital advertising platforms to reconsider their bans on cannabis promotion. Twitter is simultaneously enhancing its entry into American marijuana advertising through a promotional incentive for the sector. However, there are still some uncertainties regarding the specifics of what Twitter’s new marijuana advertising policy allows and prohibits.
In the opinion of Lisa Buffo, CEO and founder of the Cannabis Marketing Association, the move is a definite sign that marijuana is becoming more accepted as a consumer packaged good.
Some industry participants have already acted to benefit from Twitter’s policy change, such as the vaporizer company Pax, which has declared that it is one of the platform’s first marijuana advertising partners. Other companies are waiting to see how things play out.
According to head of marketing at Theory Wellness, Thomas Winstanley, Twitter’s new policy on marijuana advertising is more symbolic than it is practical for the company’s operations at the moment. Winstanley states that Twitter’s guidelines for American cannabis businesses are different from those for Canada, where the platform already permits the advertising of legal cannabis businesses.
According to Twitter’s U.S. marijuana advertising guidelines, advertisers are prohibited from promoting cannabis products, including cannabidiol, except for hemp-extracted CBD products with a THC level lower than 0.3%. Winstanley understands that restriction to mean that Theory Wellness couldn’t attempt to maximize the return on its Twitter advertising investment by turning an advertisement into a sale. However, he thinks brand-awareness campaigns would be acceptable.
According to a Twitter employee, the platform enables advertisers to promote brand preferences and educational marijuana-related content for THC and CBD products, as well as services such as labs, delivery services, scientific developments and events. Twitter will provide the brands with a one-and-a-half-month advertising incentive by matching new ad spending up to $250,000 one-to-one.
It’s unclear whether Twitter’s digital advertising rivals, including Alphabet (Google’s parent company) and Instagram, Facebook, and WhatsApp platforms run by Meta, will follow suit and permit cannabis advertisements.
Recently, Google Ads relaxed restrictions on CBD and hemp advertising in a few markets, but it continues to ban the majority of other marijuana marketing.
Cannabis PR specialist Rosie Mattio asserted that Twitter merits praise for being the first to adjust guidelines; Mattio is confident that the U.S. cannabis industry will feel loyalty to the privately owned social media site.
As cannabis companies gain traction from their adverts on Twitter, there could be a surge of demand, which could in turn cause companies such as REZYFi Inc. to see more interest in the specialized funding products that it offers to marijuana companies.
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