Taking the Business of Medical Cannabis Online

Equities Editors Desk |

It’s commonplace for a business owners or consumers to spend a significant amount of time enjoying Facebook, visiting their favorite e-commerce sites. Businesses in all industry sectors are making the switch to digital, whether it’s a newspaper a boutique …or a medicinal cannabis dispensary.

While promoting medicinal cannabis in a public forum would have been unthinkable before the late-nineties, new state laws have provided business opportunities throughout the industry.  Advertising and marketing dispensaries are now commonplace in the 15 states, plus DC that permit medicinal cannabis. In addition, 12 states have pending legislation including Maryland, Massachusetts, Connecticut and New York. Subject to approval, these states will have dispensaries advertising online as well.  Companies are now able to compete with one another through advertising, coupons and daily deals in the same way that Pepsi and Coke might compete.  The rebranding of medical marijuana also known as medicinal cannabis has arrived.

 

With that rebranding is the need for dispensaries to advertise in order to succeed in the increasingly competitive marketplace. Proof of this is WeedMaps.com, a wholly owned subsidiary of General Cannabis, Inc. (OTCPK: CANA).
The concept and execution of the WeedMaps.com site is brilliant. The site operates using GPS technology to direct users to the nearest of the 800 distributors listed in its database. Alongside the results are comments from users regarding each distributor, giving patients insight into where best to acquire their medicinal cannabis whether they’re looking for the best price or for a specific strain.
Weedmaps.com was created approximately 2 years ago, and per the company’s recently filed S-1, in 2009 it generated about $100,000 in revenue compared to 2010 in which it generated over $3.3 million in revenue.  According to Google Trends, the number of people headed to the site is sky rocketing. People are responding to the shift, recognizing the Internet General Cannabis is reaping the benefits. The company is public, a defining step in legitimizing a multi-billion dollar industry.

Having gotten there first, General Cannabis is at a significant advantage over the companies who will likely try to follow in their footsteps as the green rush, or the corporate management of medical marijuana continues to gain steam.

 

 

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