Crypto Marketing vs. Cannabis Marketing - How Are They Similar? | Ep. 18

The Cannabis and Crypto industries are often faced with similar limitations when it comes to marketing. The Coinbound team explains how the industries and marketing strategies for both Crypto and Cannabis are similar and ways to optimize your marketing efforts in those sectors.

Time Stamps:

[00:30] General similarities between the industries

[01:43] Similarities between the obstacles faced by Cannabis and Crypto Marketers

[02:00] Both industries favor brands that are willing to be bold

[03:20] Consumers in both industries are more willing to be "early adopters"

[03:28] Demographic breakdown similarities and differences between Cannabis and Cryptocurrency audiences

Ty's Show Notes:

Similar advertising limitations:

Highly regulated products
Can't freely advertise on Google, Facebook, Twitter, LinkedIn.

Similar audience features:

Gender: Mostly male 

Crypto: 90%+ [confirmed by both our data and a study by coin.dance]
Cannabis: 65% male [According to Miner & Co (social data research firm)

Age: Mostly Millenials

Crypto: 47.95% age 25-34 according to Coin.dance (same study)
Cannabis: 38% according to Study by Eaze reported by NYTimes

More accepting of new ideas and falling into the early-adopter tranche, more willing to be on the cutting edge and take risks

How to reach them:

Social media

Twitter is best for crypto
Instagram of Cannabis

Influencers

See influencer marketing as less obtrusive and its a good way to get around advertising bans

SEO

We are still in the early days of both crypto and cannabis so its easier to rank now than it will be.

Links: 

https://www.forbes.com/sites/andrebourque/2018/09/04/do-we-have-enough-data-to-build-accurate-cannabis-consumer-personas/#3e8e650f4d24

https://bitcoinist.com/google-analytics-bitcoin-demographics/

https://www.eaze.com/article/insights-2018-state-of-cannabis-report-marijuana-consumer-diversify

Follow us on Twitter:

https://twitter.com/coinbound_io

https://twitter.com/tydanielsmith

https://twitter.com/youngdumbcrypto

https://twitter.com/cryptokylie

Learn more about the Crypto Marketing Show:

https://coinbound.io/podcast