Key Learnings from MJBizCon

In November, KO attended Marijuana Business Journal’s MJBizCon. Although it was difficult to anticipate what to expect from the conference, one thing became immediately clear: the marijuana industry is exploding. Conference attendance more than doubled compared to last year, and the expo hall was abuzz for three days straight with more than 300 exhibitors. With Las Vegas as the backdrop, we learned about everything from grow lights, to child-proof packaging, CBD infused drinks and pet food to security systems and edibles.

For other brands that are new to the industry, here are a few key takeaways:

  • No one knows each other: The marijuana industry is still young, so many attendees met for the first time at the conference. The industry also has a real startup mentality; in other words, new and more established brands alike have the same opportunity to stand out.
  • Define your identity: Penn Teller, the keynote speaker, emphasized the importance of authenticity amid the industry’s huge growth. For new brands, it’s important to identify your target consumers and align everything from your logo to packaging accordingly. Pot leaves and Rastafarian colors will only appeal to a specific group of consumers, so brands should look to alternative tactics to differentiate themselves.
  • Know your s%&t: MJBizCon is far from a “stoner’s conference” – it was packed with savvy professionals well versed in the ins and outs of state versus federal regulations, limitations on marketing via social media, the benefits of CBD versus THC and more. It’s imperative brand spokespeople have strong and informed points of view to add to conversations.
  • The future is bright: Despite recent stories of how a Trump administration could impact the industry, the conference was overwhelmingly optimistic about the future. Four states had just legalized recreational use and many believe other states will soon follow. Although the industry is fresh, the potential is unmistakable.



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