Mario Naric, Founder and CEO of Motif Labs, discusses his journey in the cannabis industry and the vision behind Motif Labs. He explains how Motif evolved from a B2B business to a brand house, with a focus on creating products for the younger generation of cannabis consumers. Mario highlights the importance of unique hardware in the vape market and the role it plays in differentiating brands. He also discusses the challenges of marketing cannabis brands on social media in Canada and the need for data analytics in the industry. Mario offers advice to entrepreneurs entering the cannabis industry, emphasizing the importance of understanding the target consumer and designing products specifically for them.
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Takeaways:
-Motif Labs started as a B2B business but evolved into a brand house, focusing on creating products for the younger generation of cannabis consumers.
-Unique hardware plays a crucial role in differentiating vape brands and attracting consumers.
-Marketing cannabis brands on social media in Canada is challenging due to strict regulations, but engaging with consumers through conversations and leveraging shareable content can still be effective.
-Data analytics is becoming increasingly important in the cannabis industry to inform product selection and ensure profitability.
-Consolidation is expected in the cannabis retail market, with larger retailers becoming even larger and smaller retailers needing to adapt to survive.
-Entrepreneurs entering the cannabis industry should focus on understanding their target consumer and designing products specifically for them.
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Featured Guest(s):
Mario Naric, CEO & Founder – Motif Labs
https://motiflabs.ca/
Meet The Host(s):
Patricio Liddle, Cannabis Writer – Benzinga
https://www.benzinga.com/author/patricio-liddle-0
Abbey Higginbotham, Cannabis Writer – Benzinga
https://www.benzinga.com/author/abbey-higginbotham
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Chapters:
00:00 Introduction to Mario Nerik and Motif Labs
03:02 Creating Rizzlers for the Gen Z Market
05:43 The Importance of Unique Hardware in the Vape Market
11:47 Navigating Social Media Marketing Challenges in Canada
16:05 The Growing Importance of Data Analytics in the Cannabis Industry
18:45 Designing Products for the Target Consumer: Key Advice for Entrepreneurs
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Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.
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