The cannabis industry represents an opportunity for rapid growth among cannabis manufacturers and retailers, as well as CPG manufacturers and retailers eager to incorporate CBD into their products and make them available to consumers. Yet the same dynamics that make cannabis rich with opportunities also create significant risks.
Media placements over two years
Media briefings secured
Podcasts recorded
Bringing Data and Analytics to the Cannabis Market
BDSA provides retailers, manufacturers, brands, wholesalers and investors with actionable insights that drive profitability, increase revenues, reduce expenses and outmaneuver the competition.
Teams use BDSA’s suite of products to set and adjust prices to maximize revenues and margin, and gain the greatest market share possible. Proprietary data sets and algorithms give managers a competitive advantage.
BDSA data and analysis answer questions such as, “Should I drive forward with plans to expand into limited license states or tackle the massive California market?” and “Is it better to follow the headlines and chase branded ingestible products or to follow the connoisseurs into the world of craft concentrates?” Proprietary algorithms, powered by the highest quality sales data and driven by the latest statistical tools, cut through the fog and give teams a leg up on the competition.
Clients can gain historical data with BDSA’s team of experts and trending research going back to 2015 to see how demographics and attitudes have changed over time. They can also measure the success of day-to-day sales operations, promotions and pricing with retail sales tracking, attract new customers with insider knowledge of product needs and shopping experience desires with consumer insights, plan effectively for expansion with the support of market forecasts and reporting on regulatory and other impacts to the industry.
..,Rapid Growth, but Lots of Potential Potholes
BDSA’s most recent market forecast report projects annual global cannabis sales to grow from $30 billion in 2021 to $57 billion in 2026, a compound annual growth rate (CAGR) of almost 13%. In the United States, cannabis sales will grow from $25 billion in 2021 to $42 billion in 2026, making up 75% of total global cannabis sales. Despite an inflationary environment and concerns about a recession that dampened consumer spending, the legal United States cannabis market was expected to grow 12% by the end of 2023, reaching $29.6 billion. By 2027, the U.S. is forecast to deliver $45 billion in total legal sales.
Building Awareness of Market Opportunities
BDSA charged UPRAISE with earning high-quality and high-quantity media coverage to keep BDSA at the top of mind with decision makers versus many other players that provide what are perceived to be similar services.
Our campaign has included combining press releases, market reports and forecasts, and proactive themed pitching to earn outstanding results. Specific media-focused activities include:
- Position BDSA spokespeople as market thought leaders,
- Recommend timing strategy of announcements to optimize coverage,
- Propose ideas to continuously ensure BDSA’s share of voice remains #1 among market competitors.
Often, we have recommended seasonal pitches around events such as the Super Bowl and July 4th that provide an added level of timeliness and relevance.
Outsized Results Lead to Market Leadership
From July 1, 2021 to June 30, 2023, we earned BDSA outsized results and set the standard for providing data and insights to the cannabis industry. These results included:
- Secured 20,566 media placements (average of 857 media placements per month),
- #1 share of voice versus competitive data and analytics providers,
- Facilitated 444 media opportunities,
- Pitched 29 proactive themes to media,
- Drafted, edited and distributed 14 press releases,
- Secured 10 podcast opportunities,
Creative PR strategies, a client with frequent announcements and serving a hot market resulted in strong media coverage that propelled the BDSA business forward.
“Our company operates in an extremely dynamic industry, but the UPRAISE team has always been on top of industry trends, developments, and the opening of new markets. They constantly bring ideas to the table and present ways for our thought leaders to both have a voice in the current conversation, and to start conversations of our own.”
CEO and Co-founder, BDSA
