Grassroots Market Research on Grass: Predicting Cannabis Brand Performance Using Social Media Scraping

Abstract

[EN] Social media listening has become a useful tool to marketers in studying behavior for a wide variety of consumer applications, from political leanings and drug abuse to common product choices. Although most cannabis products are illegal at the U.S. Federal level, it is legal in 30 states for medical use and 8 states and the District of Columbia for recreational use. Despite the legal issues, cannabis is projected to reach over $31 billion in sales world-wide by 2021. The industry is both rapidly evolving and highly fragmented, making it challenging for companies operating in the space to access the insights and the data to help design communications, product development and branding strategies. The research presented here will show that the application of social media listening can be helpful for cannabis brand marketers to gauge size, scope and nuances of these markets and tailored social media mining can accurately predict a brand’s future performance. Later research will show that social media scraping will help identify and segment consumers at a fraction the cost of traditional consumer research methods.