Committee Blog: Announcing The NCIA Best of 420 Clio Cannabis Award
The Clio Cannabis Awards, September 29, 2022 in Las Vegas at the MGM Grand
During the winter of 2021, when vaccines were not yet widely available, and many people were still in lockdown, the NCIA Marketing and Advertising Committee was determined to shine a light on those in our community who were fueling opportunity and growth during a difficult time for many businesses.
MAC Chair Kary Radestock of Hippo Packaging assembled a subcommittee tasked to amplify top member marketing efforts and thus the Best of 420 Award program was born. The 2021 event received dozens of submissions from all over the U.S. across all business sectors and budget sizes and was conducted and presented virtually. See last year’s winners here.
For 2022, NCIA and the Marketing and Advertising Committee are bringing it back and this year, it’s going to hit differently.
Through the guidance of our subcommittee co-chaired by Melinda Adamec of Gabriel Marketing and myself, Tara Coomans of Avaans Media, we’ve also enlisted Michael Kauffman of the Clio Awards, Angela Wong of The People’s Ecosystem, and Vanessa Valdovinos of Hush Chicago to provide support to this year’s process and expand this award.
The winning honoree will be presented live at the 2022 Clio Cannabis Awards to be held on September 29th at the MGM Grand in Las Vegas.
What’s Staying The Same:
NCIA invites all cannabis companies and brands, both B2B and B2C to submit their 420 campaigns—NCIA membership is not required. Budgets of all sizes and companies of all types, B2B and B2C, are encouraged to apply.
It’s still FREE
A jury of NCIA members and peers who will evaluate submissions and recognize the top entry.
What’s Changing:
Winners: There will be one winner and this winner will be chosen based on three criteria.
Judging Criteria
Criteria: Judges will evaluate entrants in three ways: Community Impact, Creativity, and Results.
Community Impact: How did your campaign bring your community together? How did it highlight the best of the cannabis community to others? Did it support an advocacy campaign such as DEI, sustainability?
The cannabis industry is showing the world how an industry-aligned can create positive change. How does your campaign positively impact either the cannabis industry, your customers, the environment, underserved or unrecognized cannabis users, or businesses?
Creativity: How creative was your overall 420 campaign? How creative are you in getting out your message and implementing the campaign?
Results: Was it an effective campaign by your own goals and KPIs?
This category is one of the most important because our judges will judge the results based on your goals. Regardless of budget size or market size, show us your results. Results are those KPIs that are important to YOU. Make sure you grab those baselines so we can see your progress!
Judges:
Selected from a diverse slate of NCIA members, including past winners and NCIA committee members from a cross-section of perspectives, including the Sustainability Committee, the Diversity and Equity Committee and the Marketing and Advertising Committee.
Submission Process and Deadline
Submit your company’s campaign today by following the link below! Act fast as entries will be collected over the following six weeks, with a deadline to submit by Friday, Jul 22, 2022.
Good luck to everyone and have a fantastic 420! Submissions are being accepted now! We look forward to seeing your exceptional campaigns!
About Clio Clio is the premier international awards competition for the creative business. Founded in 1959 to celebrate creative excellence in advertising, Clio today honors the work and talent at the forefront of the industry in a variety of specialized fields, including: sports, fashion, music, entertainment, cannabis, and health. As a leading authority on the diverse and ever-changing creative landscape, Clio celebrates creativity 365-days-a-year via its global ad database Ads of The World and its content platform Muse by Clio. https://clios.com/ https://musebycl.io/ https://www.adsoftheworld.com/
About Clio Cannabis Expanding on Clio’s enduring reputation for establishing best-in-class programs honoring creative ideas in a variety of specialized verticals, Clio Cannabis celebrates the creators at the forefront of cannabis marketing and communications. Launched in 2019, Clio Cannabis sets the bar for creative work in a rapidly growing industry, builds a greater understanding of a developing category, and elevates creative contributions from top talent and agencies. https://www.cliocannabisawards.com/
Media Partner
For hints and tips on winning award programs, with hints and tips from the entire Marketing and Advertising Committee, listen to the replay of our recent webinar:
Fireside Chats w/ NCIA’s Government Relations Team | 2.23.22 | Cannabis in the Empire State: Considerations, Implications and Ramifications
NCIA’s #IndustryEssentials webinar series is our premier digital educational platform featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most. The Fireside Chat series of NCIA’s #IndustryEssentials webinars are an exclusive quarterly opportunity for NCIA members to hear from our government relations team and guests about the latest developments in federal policy LIVE.
In our first government relations chat of the new year Mike and Michelle were joined by New York State Senator Liz Krueger and NCIA board member Michael Cooper of MadisonJay Solutions for a dynamic discussion about the recent passage of the Marijuana Regulation and Taxation Act and the future of the cannabis industry in New York.
Originally broadcast on Wednesday, February 23rd our panel discussed the process of getting the law passed, the goals for the new program, and the transition of the current medical and hemp industries to oversight by the new Cannabis Control Board.
Tune in today to learn lessons from those on the front lines of reform and gain insights on how the industry can help policymakers drive policy forward on the state and national levels.
Speakers:
New York State Senator Liz Krueger (D-New York)
Michael Cooper, Esq. Co-Founder & Managing Member MadisonJay Solutions NCIA Policy Council Co-Chair
Michael Correia Director of Government Relations National Cannabis Industry Association
Michelle Rutter-Frieberg Deputy Director of Government Relations National Cannabis Industry Association
Committee Insights | 3.1.22 | Cannabis and COVID-19 – What We Know and What We Don’t
In this edition of our NCIA Committee Insights series originally aired on Tuesday, March 1, 2022 members of NCIA’s Scientific Advisory Committee convened a panel of leading clinical, regulatory and cannabis technology experts to lead a very timely discussion surrounding cannabis and COVID-19.
This webinar gave an overview of the effects of COVID-19 on the body with a discussion on the research related to cannabis based treatments.
Learning Objectives:
• Learn about COVID-19 and how it infects the mammalian body’s organ systems.
• Discuss the endocannabinoid systems role in the immune response and how research supports its role in COVID-19.
• Outline implications of cannabinoid treatments based on available research including the most recent acidic cannabinoid study that has been all over the media.
• Identify areas of interest for future research.
Speakers:
Dr. Paloma Lehfeldt, MD, MA
Senior Director of Clinical Science and Partnerships
Goodness Growth Holdings
Lucy Postolov
Owner and President
Cannapy Health LLC / Postolova Acupuncture Group, Inc.
Bryant Godfrey
Partner
Foley Hoag
Jim Makoso
Director / CEO
Lucid Lab Group / Flowe Technology
NCIA Committee Insights: 10 Tips in 20 Minutes – A Guide to Building Winning Campaigns
In this edition of our NCIA Committee Insights series originally aired on Tuesday, February 22, 2022 we were joined by members of our Marketing & Advertising Committee for a virtual edition of their recent “Lightning Lesson” hosted inside the Elevation Lounge at NCIA’s 7th annual Cannabis Business Summit & Expo in San Francisco, CA last December!
Their talk covered everything your business needs to know to properly design a marketing campaign that will engage your community and ensure success at any budget. With a focus on campaigns surrounding 4/20, they’ll highlight the lessons learned from last year’s “Best of 4/20 Marketing Campaign Contest” to help set your company up to make a splash this Spring!
Additionally, we announced initial details surrounding the 2022 edition of the “Best of 4/20 Marketing Campaign Contest” which will include community-sourced judges, expanded entry categories as well as an in-person element being implemented into Cannabis Business Summit & Expo taking place from July 20th – 22nd once again at the Moscone Center in the heart of the Bay Area.
Missed last year’s virtual event or just want to refresh yourself prior to the program? Check out the recap blog here: https://bit.ly/3ntAV21
Sit back and relax while learning the tips you’ll need to both build and execute a successful marketing campaign surrounding our industry’s highest of holidays.
Fireside Chats w/ NCIA’s GR Team | 10.27.21 | Going Green: Considerations for Businesses & Policymakers
Mike and Michelle carry on their monthly conversations with regulators, policy makers and cannabis industry thought leaders to discuss the latest developments in federal policy LIVE. In this edition of our Fireside Chats w/ NCIA’s Government Relations Team series originally aired on Wednesday, October 27, 2021 the panel dove deep into the current landscape and future outlook for sustainability in the cannabis industry.
As the cannabis industry continues to grow, so does its environmental impact. This fast-growing and highly regulated industry (at the state level) is poised to lead on evolving business challenges, including the adoption of environmentally sound business practices that demonstrate to the broader agriculture sector that comprehensive environmental sustainability is achievable. But, challenges remain and the stakes are ever-increasing.
We’ll look at the intersection of the current environmental footprint of the cannabis industry, existing sustainability solutions (packaging, regenerative farming, renewable energy), political and economic issues limiting adoption of these practices by operators, and lay out strategies to remove those barriers. We’ll also be talking extensively about NCIA’s 2020 white paper (Read Now: https://bit.ly/3uDogfa) on environmental sustainability, so be sure to take a look!
Speakers:
Sabrina Fendrick, Essentia Endeavors
Ron Basak-Smith, Sana Packaging
Tiffany Watkins, Vanguard Media
Kaitlin Urso, Environmental Protection Specialist, Colorado Department of Public Health and Environment
Moderating:
Michael Correia, Director of Government Relations (NCIA)
Michelle Rutter Friberg, Deputy Director of Government Relations (NCIA)
Service Solutions | 10.26.21 | Capturing the $27 Billion Opportunity in Legal Cannabis Manufacturing
NCIA’s Service Solutions series is our sponsored content webinar program which allows business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
In this edition originally aired on Tuesday, October 26, 2021 we were joined by Aptean, an industry-leading cannabis technology company, for an in-depth look at the key obstacles standing between cannabis manufacturers and profit margin.
The legal marijuana manufacturing market will grow by $27 billion over the next three years. But as opportunities increase, so does competition. To be at the forefront of this dynamic sector, you need to move fast – and run lean.
So, how can your manufacturing business improve speed and efficiency of production to maximize profit? Without compromising on product consistency, quality and control? And how can you run a transparent, accountable, compliant operation, to continue building consumer confidence in cannabis products? Discover the answers in this webinar!
Aptean’s cannabis manufacturing expert, Daniel Erickson, will outline how you can break through operational barriers to increase productivity, by taking a digital approach to manufacturing using new-to-market cannabis ERP software.
In this session, you will learn how a digital manufacturing strategy will enable your business to:
• Maximize crop yield and quality using online cultivation management tools
• Improve traceability for complete compliance and quality control from seed to sale
• Increase employee security, productivity and all-round motivation
• Easily diversify into new legal cannabis products to enhance your business revenue
Panelists:
Daniel Erickson
Senior Project Manager
Aptean
Video: NCIA Today – Friday, October 22, 2021
NCIA Deputy Director of Communications Bethany Moore checks in with what’s going on across the country with the National Cannabis Industry Association’s membership, board, allies, and staff. Join us every Friday on Facebook for NCIA Today Live.
On the latest episode, Bethany discusses the millions of dollars the cannabis industry is losing each year to moisture, an update on cannabis policy reform in D.C. as the federal government acts on other issues, an upcoming Fireside Chat Webinar with our Government Relations Team on environmental sustainability, and more.
Registration to the Cannabis Business Summit in San Francisco is now open with special limited-time super early bird pricing on tickets available, head to our website for more information today.
Service Solutions | 10.20.21 | Stay Compliant & Increase Productivity with an Effective Safety Program
NCIA’s Service Solutions series is our sponsored content webinar program which allows business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
In this edition originally aired on Wednesday, October 20, 2021 we were joined by KPA to discuss best practices for maintaining an effective safety and compliance program at your cannabis company and their easy-to-use solution that can help automate the process.
With rapid growth, evolving regulations, and complex operations, creating a highly effective safety and compliance program can be challenging for cannabis companies. However, organizations who follow best practices for safety and compliance can see major benefits including improved efficiency in operations, reduced injuries and workers’ compensation premiums, and a better reputation and image in the community.
Watch this webinar with NCIA partner KPA to learn how you can improve your safety and compliance program! You will hear real-world examples of how Cannabis companies are managing their safety programs and see a short demonstration of the KPA EHS platform that can help you automate the process.
In this session, you will learn:
• What makes an effective safety program?
• How can you ensure leadership and active worker participation?
• What are the key elements of an effective safety training program?
• How can modern safety software improve performance and productivity?
Panelists:
Joe Souza
District Manager, EHS Operations
KPA
Dagen Boyd
Director, Business Development
KPA
Catalyst Conversations | 9.28.21 | Risk, Security, and Insurance Mean Something Completely Different in Regulated Cannabis
NCIA’s Catalyst Conversations series is an advanced webinar series curated to give enrollees in our Social Equity Scholarship program the opportunity to network and gain access to valuable knowledge that will help them excel in the cannabis industry.
In this edition of our Catalyst Conversations series originally aired on Tuesday, September 28, NCIA’s Risk Management and Insurance Committee teamed up with the Diversity, Equity, and Inclusion Committee to create a powerful discussion every Social Equity operator should join in on.
Legacy and Social Equity operators face many hurdles. One of the biggest hurdles is creating a risk management strategy and gameplan in the regulated industry, which can prove to be very different from the risk management strategies that may have gotten them here in the first place. In the regulated industry, the greatest risks to survival aren’t always so obvious, and the ways to mitigate those risks can often seem too expensive, or even worse, the service providers may be difficult to trust. The still-existent impact of the War on Drugs cannot be underestimated in the role it plays in this dynamic.
During this webinar, we host a lively discussion about the very real threats to the survival of small cannabusinesses, and the ways to mitigate those risks.
Attendees will walk away with these key insights:
• Understand the current state of Security and Insurance in the regulated industry
• Get pragmatic information on what to look for when vetting Security and Insurance firms and coverage
• Learn how to incorporate simple tactics into your current business strategy.
• Understand how the impact of the War on Drugs and making the transition from Legacy markets may affect your outlook on Security and Insurance in a unique way, and what you can do about it
• Recognize the importance of assessing and mitigating financial risk in the regulated industry
A special thank you to the benefactors of NCIA’s Diversity, Equity and Inclusion Program which are listed below!
Committee Insights | 9.28.21 | Conscious Cultivation through Integrated Pest Management (IPM)
In this edition of our NCIA Committee Insights series originally aired on Tuesday, September 28, 2021 we were joined by members of our Cannabis Cultivation Committee for a deep dive into Integrated Pest Management (IPM) for hemp and cannabis growers.
More than just a buzzword, IPM is a method for preventing and mitigating damage caused by insects and diseases. Since cannabis cultivators are prohibited from using most pest control products available to flower and vegetable growers, a comprehensive IPM program is vital for commercial growers to maintain a healthy crop and a profitable business. Our panelists defined the overarching principles of IPM and provide specific steps that growers can take today to build an effective pest management program for their crops.
Learning Objectives
Definition of IPM and the related concepts behind it;
1) appropriate beneficial insects
2) timing with other regular pesticide applications
3) facility set up
4) cultural practices and how they affect your other practices like defoliation, air movement
5) employee safety, restricted entry interval, allergies, MSDS awareness
6) pest and disease prevention and treatment
7) contamination prevention methods
Shouhua Wang, Ph.D.
State Plant Pathologist
Nevada Department of Agriculture
Marguerite Bolt
Hemp Extension Specialist
Purdue University
Filipa Sousa Nunes
Integrated Pest Management Expert
Portugal
Service Solutions | 9.15.21 | 5 Growth Hacks Cannabis Retailers Can Learn from Mainstream Retailers
NCIA’s Service Solutions series is our sponsored content webinar program which allows business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
In this edition originally aired on Wednesday, September 15, 2021 we were joined by American Security Services, a leader in home & business safe solutions for 75 years, to discuss cash management problems facing the cannabis industry today and what retailers have discovered as a solution.
In this session you’ll hear from operator-owners in cannabis retail and their financial partners about the growth hacking tips helping them grow greener profits, faster. Still UNbanked? This session will give you the tools you need to make decisions about your cash and asset management today and in the future.
In this session, you will learn:
• How to improve operational efficiencies at the point of sale through end-of-year financials.
• How to get provisional credit from the bank and increase cash flow.
• How to select the right Cannabis-friendly financial partners.
• How to identify hidden threats to your bottom line and overcome those threats with technology.
• How to set the bar for compliance safety and security that will last you the next 30 years.
Speakers:
Albert Porto, National Sales Manager, Smart Safes, American Security
Rony Ghaby, Director of Operations, Sectran Security
Steve Morss, Chief Cash Operations, Dama Financial, Cannabis Banking
Video: NCIA Today – September 3, 2021
NCIA Deputy Director of Communications Bethany Moore checks in with what’s going on across the country with the National Cannabis Industry Association’s membership, board, allies, and staff. Join us every Friday here on Facebook for NCIA Today Live.
Fireside Chats w/ NCIA’s Government Relations Team | 6.30.21 | CAOA or Chaos? – Unpacking Cannabis Administration & Opportunity Act
In this edition of our Fireside Chats w/ NCIA’s Government Relations Team series originally aired on Wednesday, September 1, 2021 we were joined by our CEO & Co-founder, NCIA’s board chair, and our esteemed Policy Council Co-Chair to unpack the Cannabis Administration & Opportunity Act with Mike & Michelle.
In response to a call for input on the draft language for a bill that would make cannabis legal and regulated at the federal level, NCIAhas submitted a detailed analysis and recommended improvements on behalf of the legal cannabis industry.
Since the discussion draft was released, the NCIA team has been hard at work putting together our comments, as well as soliciting feedback from key stakeholders like our board, policy council, Evergreen Roundtable, social equity scholarship program members, and our general membership. Now, at long last, it’s finally time for us to reveal to you what NCIA has submitted! You can expect a deep dive into restorative justice policies, regulatory frameworks, and the outlook for getting to 60 votes– don’t miss out– tune in now!
Speakers:
Michael Cooper, Esq., Co-Founder & Managing Member, MadisonJay Solutions, NCIA Policy Council Co-Chair
Khurshid Khoja, Esq., Founder, Greenbridge Corporate Counsel, NCIA Board Chair, NCIA Policy Council Co-Chair
Aaron Smith, CEO & Founder, National Cannabis Industry Association
Moderating:
Michael Correia, Director of Government Relations (NCIA)
Michelle Rutter Friberg, Deputy Director of Government Relations (NCIA)
Committee Insights | 8.31.21 | Taking Human Resources Higher as a Strategic Partner
In this edition of our NCIA Committee Insights series originally aired on Tuesday, August 31, 2021 we were joined by members of our Human Resources Committee for a discussion on how to create a healthy workplace, a positive employee experience and an effective relationship with your leadership team to make the right decisions for your company’s success.
Human resources is the hub of the workplace, the employee experience and leadership decisions with the cannabis industry being no different. Join our panel of human resource experts as they equip you with the skills needed to create positive employee experiences and influence change with other strategic leaders within their organization by effectively utilizing data.
Panelists:
Shawnee Williams (Moderator)
Recruiter & Account Manager
Illinois Equity Staffing
Nichole McIntyre
Director of Human Resources
urban-gro
Dan Walter
Managing Consultant
FutureSense LLC
Committee Insights | 8.24.21 | Advanced Risk Mitigation for Cannabis: Best Practices and Policies
In this edition of our NCIA Committee Insights series originally aired on Tuesday, August 24, 2021 we were joined by members of our Risk Management & Insurance Committee for a discussion on how to reduce the overall risk facing cannabis businesses through the implementation of proactive risk management practices.
Join our panel of experts as they walk through a number of hot-button issues specific to the cannabis industry, including cybersecurity, product liability, marketing risks, and the protection of high-value assets.
Our team of cannabis professionals will guide you through real-life scenarios to help you learn from the mistakes of others. Although cannabis is still an emerging industry, there is a broad array of tools that business owners can use to protect their bottom line and maintain their business’s operations through an emergency.
Some of the various risk-reduction tools that will be discussed in this webinar include specialized insurance policies, contractual risk transfer, common-sense business practices, appropriate investment review, and cutting-edge technology that helps protect large quantities of cash and cannabis. These insights will help members prepare for the unexpected and ensure business continuity through the coming years.
Panelists:
Matthew Johnson
Vice President, Risk Services
QuadScore Insurance Services
Danny Bozzuto
Co-Founder
Cannabis Connect Insurance
Kevin Mullins
VP, Emerging Market Sales
3SI
Chris Payne
Treasurer/Board Member
CLIC Risk Retention Group, Inc.
Cimone Casson
Cannas Capital
Insurance Agent
Policy Council Conversations | 7.20.21 | The Medicine and Research of Cannabis
In this edition of our Policy Council Conversations series originally aired on Tuesday, July 20, 2021 we were joined by the six primary authors of NCIA’s recently released whitepaper on the Medicine of Cannabis for an overview designed to help inform and guide policymakers and medical professionals on the science, history, and uses of medical cannabis.
The Medicine of Cannabis: An Overview for Medical Professionals and Policymakers – https://bit.ly/3Bn1UBy
This publication was developed by scientists and doctors working with NCIA’s Policy Council and Scientific Advisory Committee, and promotes policies that facilitate further research and fair, legal access. On this webinar you’ll hear from the writing team itself, including physicians, veterinarians, and a PhD researcher as they discuss their paper and summarize what your doctor and policy maker needs to know.
Learning Objectives:
• Overview the history of medical cannabis and its prohibition in the United States
• Brief intro to the Endocannabinoid System
• Explore the cannabis plant
• Learn about different conditions cannabis can treat and the research that backs it up
• Discuss policy implications for cannabis including the need to deschedule
Speakers:
• Dr. Stephen Dahmer MD, Chief Medical Officer, Vireo Health
• Dr. Paloma Lehfeldt MD, Director of Medical Education, Vireo Health
• Dr. Paul Muchowski PhD, Founder/CEO/CSO, Defined Research
• Dr. Lynn Parodneck MD, Medical Practitioner
• Dr. Tim Shu DVM, CEO, VETCBD
• Dr. Casara Andre DVM, Founder, Veterinary Cannabis Education & Consulting
Committee Insights | 7.20.21 | Subculture to Pop Culture: Creating Culturally Relevant Cannabis Brands
In this edition of our NCIA Committee Insights series originally aired on Tuesday, July 20, 2021 we were joined by members of our Marketing & Advertising Committee for a discussion on the importance of creating, cultivating & maintaining cultural relevancy for your cannabis (or CBD) brand. Stick around for the entire conversation as the panel dives deep into specific tools, metrics and methods for both research & analysis of your campaigns during the Q&A segment to close out the program.
As the industry transitions from margins to mainstream, cannabis brands reach wider audiences. With that comes the need to navigate an increasingly complex media landscape to capture consumer attention. Learn how to make your brand more valuable to consumers by understanding their passions, engaging with fans, sharing in cultural events, and participating in social conversations.
Learning Objectives
• Learn what it takes to become a culturally relevant brand through real brand examples presented by the industry marketing experts who built them.
• Understand the risks and rewards of joining cultural conversations and specific considerations for cannabis and CBD brands.
Panelists:
Dana Mason, Brand Director at Cresco Labs
Alexis Mora, Head of Marketing at Harborside
Tara Rozalowsky, VP, Beverages & Edibles at Canopy Growth Corporation
Allison Disney, Partner, Business Strategy, Receptor Brands
Committee Insights | 7.14.21 | How to develop a Risk Assessment for your Canna-Business
In this edition of our NCIA Committee Insights series originally aired on Wednesday, July 14, 2021 we were joined by members of our Risk Management and Insurance Committee for a discussion on how to evaluate and rank risks to your cannabusiness.
Our experts discussed the potential impact of risk to cannabusiness operations and how to effectively identify and rank them. The discussion included risks posed by product sales, partnership agreements and corporate culture. The expert panelists also shared insights gained from their respective areas of specialty which include; Legal, Financial, Manufacturing, Technology and Insurance. Their insights will arm YOU with the tools needed to fortify yout operational practices and minimize or avoid costly losses.
Mathew Grimes
Vice President – Cannabis Specialty Group
HUB International Limited
Summer Jenkins
Business Development Manager
Cannasure Insurance Services
Service Solutions | 7.13.21 | Learn How to Grow Your Cannabis Business with Acumatica Cloud ERP
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most. The Service Solutions series is our sponsored content webinar program which will allow business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
With shifting public sentiment, state-specific cannabis laws, and licensing requirements, the Cannabis industry is in a constant state of change. From securing capital and licensing to hiring qualified people and meeting compliance mandates, the path to success is filled with challenges, but a mobile, adaptable business management solution will expedite and ensure your progress.
Enterprise resource planning (ERP) solutions provide Cannabis companies like yours cloud-based financials, inventory management, sales, operations, as well as tracking, monitoring, and reporting on raw materials from seed to sale. Learn how Acumatica – the leading innovator in Cloud ERP – will make your growing business more agile and efficient.
Learning Objectives
• Hear an Acumatica company overview, real success stories from Cannabis companies just like yours, followed by a product demo.
• Learn how ERP can be used to track, monitor, and report on raw materials and finished goods.
• How to manage accounting, sales, operations in one system and track the cost of goods – manage staff, assign tasks, and reduce manual error calculations.
• Streamline the signal flow throughout your business with the world’s fastest growing and most adaptable cloud ERP solution, Acumatica.
Panelists:
Sean Chatterjee
Vice President, Partner Sales
Acumatica
Eric Moreau
Director, Presales
Acumatica
Mid-Year Update on 280E and its Impact on the Cannabis Retail Sector
by Beau R Whitney, NCIA’s Chief Economist
The first half of the year was a strong one for cannabis revenues. After a strong first quarter, with $5.9 billion in revenue, cannabis retailers are experiencing continued growth in Q2 with preliminary results coming in at $6.2 billion to $6.5 billion.
If this trend remains in the second half of the year, the cannabis retail sales are projected to be $24.5 to $25 billion for the year. This would reflect another cycle of 35% year-over-year growth.
Source: Whitney Economics, Leafly
Strong growth in the first half of the year, does not necessarily mean huge profits for the cannabis industry.
While the industry has seen strong growth over the past year, this does not necessarily mean that the industry as a whole is in good shape. Retailers are struggling to make profits due in a large part to federal taxation. IRC 280E does not allow entities conducting business in federally illicit trade, such as cannabis, to write off common and ordinary deductions from their federal taxes. As a result, cannabis operators pay significantly more taxes than other businesses. This has long been an issue with the cannabis industry and organizations such as NCIA has been working tirelessly to address this, but as long as it remains a federal policy it will be negatively impacting the industry.
Cannabis retailers are taking the brunt of federal tax policy.
With over $12 billion in first-half revenues, cannabis retailers will be on the hook for $1.2 billion in federal taxes for the first half of the year alone. This is $756 million more than what “normal” businesses would pay. Cannabis retailers are forecasted to pay over $1.5 billion more in taxes in 2021 and, when combined with the rest of the supply chain, will pay over $2.2 billion in additional taxes in 2021.
280e Example of Impact on Retail
Normal Business
280E Business
Comment
Retail mid-Year Revenue
$12,000,000,000
$12,000,000,000
Based on data from Whitney Economics
Cost of Goods Sold (COGS = 50%)
$6,000,000,000
$6,000,000,000
Ordinary and Necessary Expenses (30%)
$3,600,000,000
$3,600,000,000
Not allowed under 280e
Real Pre-Tax Profit w/o 280e
$2,400,000,000
$2,400,000,000
Taxable Profit
$2,400,000,000
$6,000,000,000
Big difference in taxable rates
Fed Tax @21% *
$504,000,000
$1,260,000,000
Retailers pay 150% more
Effective tax rate
21.0%
52.5%
Some effective tax rates approach 60%-70%
Net Annual Profit (Before State Tax and Debt Service)
$1,896,000,000
$1,140,000,000
A difference of $201,000 per year per retailer
Source: Whitney Economics *Assumes taxed at C-corporation rates
The effective tax rate is forecasted to increase with corporate tax increases.
The effective tax rate increases significantly for retailers and in many cases exceeds 60% to 70%. The level of additional taxes that cannabis operators pay, over the course of the next five years, will increase by an average of $630 million per year for the industry if the business tax rates increase from 21% to 28%. Depending on how corporate tax policy negotiations are settled, things may go from bad to worse for cannabis retailers.
Cannabis retailers are struggling to make ends meet.
Based on sales data from 2020, there were over 7,550 licensed cannabis retailers in the U.S. with each retailer generating an average of $2.4 million per year. This is right around the amount of revenue required to be a sustainable retail business. In 2021, there have been roughly 1,000 more retailers licensed and even with an increase in sales, retailers are only forecasted to average $2.7 million per year.in sales. In fact, in 13 states, retailers are not projected to average the $2.4 million per year to remain viable. While retailers in some states may be OK, other retailers are not able to make ends meet.
What do these numbers tell us?
IRC 280E will reduce cannabis retailers cash flow by $200,000 in 2021 and that $200,000 would go a long way in shoring up the finances and provide retailers with the breathing room they need to remain viable. 280E reform would allow retailers to pay for health care for more employees, hire more workers and expand their business. However, in the current environment, many cannabis operators will continue to struggle.
The key message here is that retailers are under duress due to 280E and policy reform in the area of federal taxes may make the difference between success and failure. The time for reform is now, before it is too late.
Learn more in a recent NCIA Fireside Chat webinar with an all-star panel of accounting experts and operators to dive deep into all things 280E.
Fireside Chats w/ NCIA | 6.30.21 | One for You, Nineteen for Me – Let’s Talk Section 280E!
In this edition of our Fireside Chats series originally aired on Wednesday, June 30, 2021 we hosted an all all-star panel of accounting experts & operators to dive deep into all things 280E with Mike and Michelle.
Tax day’s deadline extension this year was met with near universal support, but the extra month doesn’t change the cannabis industry’s biggest tax woe: IRC Section 280E. Section 280E of the Internal Revenue Code prohibits any company that traffics in a Schedule I or Schedule II controlled substance from taking standard business deductions on their federal taxes. The result? State-legal marijuana companies often pay up to an 80%-90% tax rate to the IRS.
However, new bombshell reporting from Marijuana Business Daily details the extent to which the IRS is going to collect these taxes. The US Census Bureau recently announced that they will begin to collect marijuana tax revenue numbers from legal states. And, in March, the Congressional Research Service released their latest report on 280E. Clearly, policymakers are interested in cannabis tax policy, but to what end?
How is the IRS enforcing it? What do you need to be aware of in terms of audits? Is 280E retroactivity a possibility post-legalization? How are policymakers viewing cannabis tax revenue? What is considered “cost of goods sold”? How have the courts ruled on 280E? Is there a fix possible? And, of course– what does it all mean for cannabis policy reform? Our expert panel will answer all of these questions and more, so don’t miss out– watch now!
Panelists:
• Michael Correia, Director of Government Relations, NCIA
• Michelle Rutter Friberg, Deputy Director of Government Relations, NCIA
• Naomi Granger, Founder, The Association of Cannabis Accounting and Tax Professionals
• John Schroyer – Senior Author, Marijuana Business Daily
• Beau Whitney – Senior Economic Advisor, NCIA
• Javier Armas – Founder, Javier’s Organics
Committee Insights | 6.9.21 | Future Proofing Cannabis Manufacturing Processes – From Sustainability To Acquisition Readiness
In this edition of our Committee Insights series originally aired on Wednesday, June 9, 2021 members of our Cannabis Cultivation Committee convened a panel of cannabis business experts to explore the current and future landscape surrounding sustainability and manufacturing.
As industries are racing towards a sustainable future and consumers drive demand for more environmentally friendly products, the cannabis industry has the ideal opportunity to lead the way. Hear from experts in environmental sustainability, data sharing and legal matters as we educate and guide businesses into a better tomorrow.
Panelists:
Paul Coble
CEO
Thalo Technologies
Emily Long
Senior Project Manager
Byers Emissions Analysis
Jonathan Howard
Partner
Quarles & Brady LLP
Service Solutions | 6.22.21 | Is Your Current Payroll Provider Cannabis Compliant? | PeopleGuru
NCIA’s #IndustryEssentials webinars are our weekly educational series featuring a variety of programs allowing us to provide you timely, engaging and essential education when & where you need it most. The Service Solutions series is our sponsored content webinar program which will allow business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
In this edition of our Service Solutions series originally aired on Tuesday, June 9th a dynamic panel of energy experts led by the team at PeopleGuru Cannabiz hosted in-depth session on the many challenges cannabis companies face when it comes to banking, compliance, and payroll processing.
PeopleGuru Cannabiz, powered by PeopleGuru HCM, provides mid-market cannabis companies with a full Human Capital Management (HCM) solution backed by full-banking services that ensure smooth payroll processing and offer agile tools that support a growing workforce. Join PeopleGuru Cannabiz as they discuss the how they’re helping mid-market companies overcome payroll and workforce challenges with their all-in-one, cannabis-friendly, Human Capital Management (HCM) solution.
The presentation will include a live demonstration of PeopleGuru HCM that will focus on:
• The Employee Experience
• The Manager Experience
• HR Events
• Reporting
Panelists:
Steven Cohen
Chief Revenue Officer
PeopleGuru Cannabiz
In this edition of our Committee Insights series originally aired on Wednesday, June 9, 2021 members of our the Scientific Advisory Committee gave an update on testing standardization in the cannabis industry.
They reviewed which standards are in development from international Standards Development Organizations, such as ASTM International and AOAC International. They also discussed recent events that are leading to the creation of more test method standards, such as vapor emissions testing motivated by EVALI cases. They end with a conversation about what the Industry might look like in regard to testing once more standards are published.
Attendees will gain these key insights:
• Understand the meaning of “standards” and “standardization”
• Learn about the test method standards that are in development by ASTM and AOAC
• Learn about recent events that are leading to the creation of more test method standards
Panelists:
Tiffany Coleman
Director of Quality and Processing
Carbidex, Franklin Fields, BioBizz, The Botanical Co.
Jim Makoso
Director
Lucid Labs
Luke Mason
Owner/Lab Director
Aurum Labs
Alena Rodriguez
Managing Director
Rm3 Labs
Committee Insights | 5.25.21 | Third Party Certifications
In this edition of our Committee Insights series originally aired on Tuesday, May 25, 2021 members of our the Cannabis Cultivation Committee convened a panel of certification experts for an educational webinar regarding Third-Party Cannabis Certifications.
Throughout this webinar, panelists explore several types of certifications along with the associated benefits. These certifications include but are not limited to cGMP, CSQ, and Sun+Earth Certified.
Jacob Policzer
Director of Science and Strategy
The Cannabis Conservancy
Chrystal Ortiz
Owner
Herb and Market Dispensary
Kara Lavaux
Cannabis Compliance Expert
Allay Consulting
Tyler Williams
Founder and Chief Technical Officer
Cannabis Safety & Quality
Service Solutions | 5.19.21 | Holistic Energy Management Solutions | APPI Energy
In this edition of our Service Solutions series originally aired on Wednesday, May 19th a dynamic panel of energy experts led by the team at APPI Energy hosted in-depth session on building out an integrated infrastructure to yield a healthier environment for growth. Let the experts walk you through what it means to have a holistic approach to energy management; a strategy that focuses on all aspects of your facility, from securing favorable electricity and natural gas supply contracts, to implementing renewable energy solutions while reducing costs, to exploring the wide array of funding options available to you. You’ll leave this webinar with insights into the energy markets, as well as proven, technology-agnostic solutions for cannabis businesses.
Learning Objectives:
• Exploring specific, cannabis-centric energy solutions to help you meet your sustainability goals while reducing costs, including but not limited to: renewable energy, energy storage, and combined heat and power.
• Reviewing options for secure funding for energy solution technologies and on-going projects
• Effective ways to formulate future energy profiles to ensure you have the best pricing and strategy in place
• Available solutions for reaching 100% renewable energy goals
Panelists:
Dan Forgacs
VP of Market Intelligence & Analytics
APPI Energy
Oliver Hoad
EMP – Energy Consultant
APPI Energy
Chris Fraga
Founder & CEO
Alternative Energy Development Group
Ben Samways
Executive VP
Energy Efficiency
Alternative Energy Development Group
Margo Madden (Moderator)
Vice President
Energy Solutions
APPI Energy
Committee Insights | 5.12.21 | Are You Ready for the New Wave of Cannabis Capital?
In this edition of our Committee Insights series originally aired on Wednesday, May 12, 2021 members of NCIA’s Banking & Financial Services Committee convened a panel of cannabis financial experts to explore the current landscape surrounding cannabis capital, how we got here, as well as how best to prepare for future trends. Panelists discussed what new investors will look for, and what to do in preparation for a capital raise both in financial and behavioral terms.
Attendees will walk away with these key takeaways:
• Understand how to make small changes in current practices which will allow you to find the capital they seek
• Sources of capital and which is right for your stage of business
• Understanding of investor match and cues to the right actions sources of funding for your business.
Panelists:
Deborah Johnson, Director of Business Development, MCA Accounting Solutions
Cliff Whatmore, President, MAB Investments, SFO
Sumit Metha, CEO, MAZAKALI
Curtis Winar, Director, Strategic Services, Cannabis Industry Practice Leader – Frost, PLLC
Peter Su, Vice President-Private Banking/Cannabis Banking Team Leader, Dime Bank
Catalyst Conversations | 5.4.21 | How to Maximize Your Marketing Budget & Efforts
In this edition of our Catalyst Conversations series originally aired on Tuesday, April 6, the NCIA Marketing and Advertising Committee teamed up with the Diversity, Equity, and Inclusion Committee to create a powerful discussion every Social Equity operator should join in on.
Smaller operators spend a lot of money and energy on marketing efforts, but too often it’s wasted on lots of tactics and noise and not enough on strategy and precision. Marketing is one of the least understood, and under-utilized aspects of business that small business owners fail to properly take advantage of. The return on investment is often too little, because they don’t make the right investment and don’t understand how to best leverage the assets created and platforms available as part of a greater strategy.
During this webinar, you will gain a better understanding of the importance of marketing and how to best leverage different marketing strategies (and platforms) to benefit your business, particularly as a Social Equity or Legacy operator. Learn how to bring simple marketing tactics into your overall business strategy, while also getting pragmatic information on what you should look for when vetting marketing firms. Maximize your ROI and know how your money is being spent!
Attendees will walk away with these key insights:
• Understand the importance of Marketing and how best to leverage different marketing strategies and platforms, based on your brand, location, goals, budget and target audience
• Get pragmatic information on what you should look for when vetting Marketing firms
• Learn how to incorporate simple marketing tactics into your overall business strategy
Speakers:
• Amy Larson, VP of Marketing & PR, Simplifya
• Josefine Nowitz, Co-Founder, Cannabis Creative Group
• Kay Villamin, Co-founder & Creative Marketing Director, Hush Chicago
• Devin Jones, Store Manager, Elev8 Eugene
Announcing The Top 8 Finalists | Best of 4/20 Marketing Campaigns
In a year that has tested everyone’s resilience, our industry found new legitimacy as cannabis was deemed “essential” by lawmakers and regulators during the pandemic. As we slowly emerge from a shut down, the members of the Marketing & Advertising Committee (MAC) all agreed that 4/20 celebrations have brought a new meaning in 2021.
We celebrate that we have survived, and grieve for those who have lost so much.
We celebrate that cannabis legalization has moved forward – and rapidly – in several more states.
We celebrate that our industry continues to adapt so well, as it has throughout the last few decades.
Part of that celebration was reflected in clever and innovative 4/20 promotions. Of course, they were executed under CDC and county health guidelines because we know compliance, don’t we? Several NCIA member retailers, brands, and companies rose to the occasion, and we as marketers wanted to recognize that creativity and ingenuity. So, this year NCIA’s MAC committee asked for nominations for the best 420 Marketing Campaigns…and our members did not fail to deliver!
On Tuesday, May 5th, 2021 at 3:00PM EDT, NCIA’S MAC committee will recognize and showcase several of those marketing successes in our #IndustryEssentials Best Of 4/20 Marketing Campaigns celebration webinar. And, in a twist, we’re letting YOU decide who is the best of the best!
We’ve collected dozens of incredible entries and have boiled it down to EIGHT finalists to showcase during the broadcast. Congratulations to our finalists!
NCIA members will vote live to determine the top three. You won’t want to miss this interactive program featuring the best and brightest minds in the marketing space sharing each other’s most successful strategies surrounding the biggest retail day (and year) for our industry.
Here is a quick overview of the finalists (in no particular order):
Rebelle’s 4/20 Series began with a campaign to petition Governor Cuomo in New York to legalize cannabis. CGP ran a series of billboards around New York in high traffic areas and another at the entrance of the Lincoln tunnel. Finally, CGP conspicuously placed a billboard in Albany with the hopes of gaining attention from the Governor. This campaign was done with the help of Verdes, a design agency who has worked with the likes of Nike and Target. The messaging was loud and clear: “Legalize Loud, Legalize New York, Legalize Now”, “New York Wants All The Smoke”, “I (Pot Leaf) NY”. Their team banded together with the creation of personal Instagram accounts that coordinated messages daily, highlighting the inequities and harm done by the prior war on drugs. Billboards were highlighted on news channels in Brooklyn and Albany.
The loud billboards must have worked. Once legalization passed in New York, messaging shifted gears. The next round of ads debuted April 20th on the NASDAQ Billboard in Times Square. This time, it’s a message of celebration: “Happy 420”, “Let’s Get Loud”, “Let’s Rebelle”. After their 420 moment, Rebelle celebrated NY legalization 4/20 it’s first ever Rebelle 420 party at an outdoor restaurant patio location, Ten Hope in Brooklyn.
Golden State Greens was back at it again with it’s first in-person event since Covid labeled “4/20 Social.” Just like an ice cream social, attendees were able to mingle and munch safely distanced outside while listening to their favorite local and international artists. A list of top vendors displayed and gave away products to the lucky guests meeting friends in various hospitality areas. A series of social media posts leading up to the event encouraged followers to share with their friends by rewarding customers with in-store incentives. A group of media teams documented, captured, streamed and produced a recap of the event. A series of well known influencers hosted on stage and in front of the camera to guide guests/digital viewers through the experience. Massive discounts were given storewide and a percentage of all the proceeds for the day were donated to the charity our social following determined through their voice in voting.
In 2020, the year when 4/20 was an entire month, Higher Celebrations, an ancillary cannabis gifting company introduced the Dabvent Calendar, an epic month-long countdown to the most recognized cannabis holiday of the year. The Dabvent Calendar gathered 20 brands and 20 Instagram cannabis influencers to partake in a collaborative giveaway that honors every day in April as we do in December while counting down the days until Christmas. A nod to the classic Advent Calendar, the Dabvent Calendar contained daily elements of surprise and delight revealed by popular cannabis influencers such as @Chronicalewinsky (46K Followers) and @Bettykrockerbakes (21K Followers) leading up to the 20th. The physical calendars were gifted to influencers, including small products or swag items representing each major 420 Daily Giveaway that was announced by Higher Celebrations every day at 4:20 MST.
Edibles manufacturer WANA planned a series of activities that incorporate fun, pandemic-safe celebrations as well as opportunities to support the social justice causes brought to the forefront during last summer’s consciousness-raising demonstrations. #4ward20 reflects on the challenges of the past year while embracing the optimism on the horizon. In addition to consumer activities, #4ward20 honored dispensary partners by sharing special gifts with the essential workers who have kept the industry going throughout the pandemic.
Leading up to April 20, Wana Brands released a daily #4ward20 Challenge, providing ideas on ways individuals can celebrate each and every day. Ideas ranged from the silly (“get dressed up, even if it is just to feel good at home”) to the socially minded (“go on a distanced walk with a friend”) to the philanthropic (“donate money or time to a social equity organization”). Consumers were encouraged to share their activities by posting photos and videos to social media sites with the hashtag #4ward20 and tagging Wana Brands for a chance to win limited-edition #4ward20 swag.
This year on 4/20, the brand hosted Glass House Fest, a socially distanced hybrid digital-and-in-person music festival held at a secret location in LA featuring critically acclaimed rapper and producer, Flying Lotus along with supporting performers including Duckwrth and comedian Mike E Winfield.
The event included a fully immersive, virtual cannabis greenhouse experience, featuring interactive elements and a discount easter egg redeemable in the store’s merch shop. Glass House Fest was hosted live and in accordance with CDC guidelines, as well as virtually through the event livestream. Live music and cannabis experiences have historically gone hand in hand. Glass House Fest was developed to bring back a sense of normalcy to their customers’ everyday lives, and the hybrid event could serve as a blueprint for future industry activations.
Green Thumb Industries and its Rise dispensaries celebrated with their “Year of Essential” 4/20 campaign full of in-store activations, promotions, giveaways and paid media.
Each location was highly decorated with posters, 180 feet of pennant strings, flags, welcome mats, floor decals to help maintain social distancing and large wrapped bongs. There were price promotions in every market the entire month of April.
Traditionally, paper is the first wedding anniversary gift. To celebrate the first “year of essential”, Rise locations in Illinois, Maryland, Nevada and Florida gifted customers with rolling paper and copies of Lizzie Post’s “Higher Etiquette” and Lizzie hosted a GTI/Rise livestream event on April 19 at 4:20pm. Lizzie Post is the great-great granddaughter of etiquette legend Emily Post who 100 years ago wrote the book “Modern Manners”. The discussion centered on respect for cannabis culture to help usher in a new 4/20, and Lizzie shared tips on “canna-courtesy.” There were prizes and incentives for staff as well. The “Year of Essential” is a positive reminder that self-care and well-being are of utmost importance.
To kick off the week of 4/20, PLUS hosted “Waking + Baking: Cannabis Cooking Class and Dance Party,” a free virtual cannabis cooking class and dance party featuring a one-on-one interview with PLUS Chief Science Officer, Ari Mackler. The live cannabis brunch party was hosted and produced by Michelle Lhooq (@MichelleLhooq), a popular and respected LA-based cannabis journalist and author.
Viewers started off their lazy Sunday morning with a cooking class led by PLUS’ Research and Design team learning how to bake hash-infused scones and marmalades using PLUS’ Hash Gummies as the main ingredient. Registration for the event came with a discount code on PLUS gummies to entice viewers to purchase Hash Gummies for use in the cooking class.
Considering 4/20 landed on a Tuesday, PLUS chose a Sunday to offer those who may not be able to celebrate cannabis mid-week the chance to honor its history on the quietest day of the week. It brought together the community for some lighthearted fun after a year of pandemic-related stress.
As a fun way to celebrate 4/20 at home, Nugg Club engaged cannabis enthusiasts through a virtual and immersive experience that was accessed via nuggclub.com/420 (which started live on 4/15). Along with their 4/20 Home Edition Nugg Club box, members were invited to the site to enjoy curated selections of cannabis inspired by music, art, and deals from local restaurants to curb the munchies.
Nugg Club is a subscription cannabis club and helps anyone explore the world of cannabis at a discount. The company surprises consumers each month with a box of full-sized, premium cannabis products that are carefully curated and personalized for each customer and delivered at a wholesale price. The 4/20 box was a specialized tailored edition of that box.
All of the entries were terrific, and it was challenging to narrow the field to only eight (8). Your input and votes will determine the “People’s Choice” winners of the best of 4/20.
We are a resilient industry, and about to emerge into a new post-pandemic environment.
Please join us to celebrate epic marketing in a year of uncertainty and change. Register now and join us on May 5th!
We would also like to extend a big THANK YOU to everyone who submitted entries, and offer Honorable Mentions to all of these companies for their efforts!
Committee Insights | 4.27.21 | Top Challenges for Cannabis Industry Employers Emerging from the Pandemic
In this edition of our Committee Insights series originally aired on Tuesday, April 27, 2021 members of NCIA’s Human Resources Committee convened a panel of human resource and legal experts to lead a discussion on the pandemic’s impacts on the workplace and explore the challenges facing cannabis businesses emerging from the pandemic.
During this program, speakers provided practical considerations for reducing potential liabilities for remote and returning workforces. The session will also walk attendees through key considerations for administering vaccination policies while also highlighting areas of suggested focus beyond the pandemic response as businesses increasingly return to fuller operation.
Speakers:
Dean Rocco
Partner Wilson Elser
Melissa Hafey
Director Of HR Blackbird
Jeffrey David
Shareholder Call Jensen
Presenting Sponsor:
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by Beau R Whitney, NCIA’s Chief Economist
