Cannabis brands can now get insights and know how their brand stacks up against the competition in the minds of consumers
CHICAGO, October 4, 2022 /PRNewswire/ — Brightfield Group, the leading SaaS platform providing consumer insights and market intelligence for the cannabis, CBD and emerging wellness industries, today announced the launch of its Cannabis Brand Health platform. This industry-first solution provides an in-depth view of brand health from first-party consumer data, enabling cannabis brands to United States to optimize their brand strategy by tracking how consumers perceive their brand on a syndicated and profitable basis.
Brightfield Group is the leading provider of in-depth and actionable consumer data in the cannabis industries in the United States and Canada. As cannabis products continue to transition from commodities to consumer packaged goods, brand success is increasingly based on consumer loyalty, not just past performance at the point of sale. To date, companies in the industry have invested millions of dollars in building brands without any effective way to measure the impact of their efforts on consumer sentiment and buyer behavior.
With Brightfield Group’s brand health tracking solutions, cannabis brands of all sizes can look beyond point-of-sale performance and strategically allocate budgets confident they can drive brand awareness. of the brand, attract loyal customers and establish long-term leadership by tracking consumer sentiment throughout the purchase. funnel.
“Brand health has been a key metric we’ve tracked for our clients for years, but until now the U.S. cannabis market has been too fragmented to gain a comprehensive understanding of a brand’s strength across all dimensions. markets,” said Bethany Gomez, CEO of the Brightfield Group. “Recent consolidation and increased brand positioning has created optimal conditions to launch brand health monitoring at scale and we are excited to be able to help cannabis brands of all sizes put the consumer at the heart of their business. their marketing strategies.
According to the latest Brightfield Group retail brand health research:
Cookies lead to awareness in California with 39% of cannabis buyers in the state knowing the brand. Cookies and UrbnLeaf lead the pack in terms of loyalty.
Even in medical-only markets, culturally relevant brands are rapidly gaining notoriety in the new states they enter. The Jungle Boys have entered the Florida market in May 2022, and is already seeing 4.1% of Florida consumers buying the brand
For a developing recreational market with limited licenses, MA has the lowest loyalty percentage at just 22.6%, creating significant opportunities for new entrants and existing players.
“From a brand management perspective, Brightfield’s dynamic brand health data has been invaluable in helping us determine how our brand portfolio is positioned competitively and where we have opportunities to develop differentiated products to meet the needs of each customer segment over time,” said Angela Pih, head of marketing for Statehouse Holdings. “For our retail business, tracking allows us to identify brands that can improve menu composition and determine which ones to keep on the shelf because of their value as destination brands. Having the right mix of products is essential to retain customers.”
Brand Health is the latest evolution of Brightfield Group’s multi-faceted consumer intelligence platform, which includes consumer and market sizing insights for the emerging cannabis, CBD and CPG industries to provide unparalleled views into consumer and product innovation pipelines.
Brand health tracking covers the largest multi-state carriers to some of the most disruptive emerging brands including Ascend Wellness, Ayr, Body and Mind, Cookies, Curaleaf, Enlightened, Harborside, MedMen, MÜV, Rise , Star Buds, Surterra, Sunnyside, The Botanist, Trulieve, Urbn Leaf, Verilife, Windy City Cannabis and many more.
More information can be found on Brightfield Group’s Brand Health Platform. here.
About Brightfield Group:
Brightfield Group is a multi-faceted SaaS platform providing consumer insights and market intelligence for the cannabis, CBD and emerging CPG industries.
By fusing intelligent machines with real human analytics, Brightfield Group helps business leaders, marketers and innovation teams navigate these dynamic markets with confidence.
For more information, visit https://www.brightfieldgroup.com/.
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SOURCE Brightfield group