Which Cannabis Conferences Are Beneficial to Your Business?
March 30, 2017
The business of legal cannabis is booming, and as interest in the cannabis industry continues to grow, it’s no wonder that a wide range of cannabis conferences are popping up like weeds. Whether you’re a small business looking to expand your reach to more customers, an entrepreneur seeking new opportunities, or a firmly established organization making your presence known, cannabis conferences are a great way to network among like-minded individuals and find new business opportunities.
However, with an industry that is rapidly becoming saturated with cannabis conferences, all of which require significant costs to attend and participate in, it can be difficult to know where to put your priorities and which conferences will be worth a financial investment. It creates a kind of redundancy–many of these conferences feature the same brands and products, creating overlap and repetition.
For smaller businesses on a tighter budget, it may be tempting to attend every convention, conference, or trade show in an effort to get more eyes on your brand, but it may be a better investment in the long term to choose three or four conferences per year to maximize your budget and your presence.
Kayla Cook, Director of Events for Privateer Holdings (Leafly’s parent company), lent us her expertise on the subject. “The cannabis conference space is a very saturated sector of the industry,” Cook acknowledged. “It’s difficult to decide which conference to attend and which one will give you the best bang for your buck.”
Cannabis trade shows are often broad and unfocused, leaving much room for improvement and opportunities. For example, at each larger conference, you can find any number of investors, growers, light manufacturers, extract makers, marketing agencies, production companies, and more. With so many specializations within the industry, some companies may benefit significantly from a conference where another may see return on investment.
“I’d suggest defining what your business goals are prior to buying your conference pass,” Cook encouraged. “Many conferences have different focuses and specialize in different topics within the industry, so doing a little research before you commit will be well worth it.”
With interest in cannabis rising in mainstream society, there are more conferences popping up in states without medical or adult-use cannabis markets, raising the question, once again, if it’s worth the investment to attend a conference, particularly one in a state where there’s no chance of expanding your business.
When asked if there’s any value to attending cannabis conferences in states without medical or adult use legalization markets, Leafly’s Event Production Assistant, Bennett Kaplan, offered some advice. “It’s good because there is brand exposure to a new audience,” Kaplan explained, “but be wary: There’s not much to be earned.”
He pointed to the recent example of Leafly as the first and only cannabis brand to officially sponsor the popular SXSW festival in Texas, a state with a limited CBD law and no access to any form of cannabis. The presence of multiple cannabis companies served to offer information about safe, legal cannabis consumption in a state that still carries major penalties for cannabis. “The culture is moving forward without the laws moving forward,” Kaplan observed.
At the conference, Hugh Forrest, Chief Programming Officer of SXSW, also recognized the positive impact of having a cannabis company in sponsorship. “We’ve definitely had cannabis-related panels and presentations at SXSW in previous years, but probably never as much as we have on the 2017 schedule,” he said. “I think the increase in sessions reflects the overall growth of this industry—and the fact that more and more so-called mainstream entrepreneurs are seeing the kinds of opportunities that cannabis presents.”
“The culture is moving forward without the laws moving forward.”
Bennett Kaplan, Leafly Event Production Assistant
As for the smaller, lower cost conferences, it may seem like the better choice, but that’s not always the case. Low-cost events can attract lower-quality vendors and participants, so even though it may be tempting to take part in every event, it’s important to recognize which events will be the most valuable for your business.
Here are some of the conferences that we have found to be valuable:
MJBiz Conference in Las Vegas
The MJBiz Conference is the premier B2B event in the cannabis industry. It is one of the more expensive conferences, but it has an incredibly large attendance of high-quality vendors, and many would consider it to be the forefront cannabis industry trade show. The company hosts an annual conference in November, but recently started offering a spring conference as well.
The NCIA Cannabis Business Summit is considered of the most influential cannabis shows in the United States, hosted in Oakland, California, and featuring more than 4,500 cannabis industry attendees. This one of the longest-standing B2B conferences, and aside from the annual Business Summit, the organization also hosts quarterly caucus events for industry networking.
New West Summit is one of the first cannabis conferences to specifically focus on technology, investment, and media in the cannabis space, making it a more unique cannabis trade show experience.
DispensaryNext is a two-day conference & expo focused on the next generation of products, services, and strategies for cannabis dispensaries. It is specifically designed for cannabis dispensary owners, managers, marketing directors, and those in the process of building dispensaries in emerging markets.
NECANN is the largest and most important cannabis-focused event on the East Coast to date. This will be the premier convention for those seeking to enter the new retail cannabis industry on the verge of opening in Massachusetts and Maine.