Campaign Imminent: Curaleaf launches new product amid spend increase (Score 49)

Sales Lead: Curaleaf recently debuted a new brand, Zero Proof.

• Curaleaf is, per Stash, the US's largest cannabis company by market cap.
• The new product rolled out in IL and will expand into additional markets within the next few weeks.
• Zero Proof delivers fast-acting alternatives to more well-known edibles; it allows users to feel the effects more quickly and customize their consumption to keep it moderate.
• This product was launched as younger consumers continue to seek alternatives to alcohol.
• Curaleaf also recently rebranded Select nationally and launched a refreshed mobile app.
• The company will likely:
  • Ramp up localized advertising efforts in regions in which this product has launched (and will launch)
  • Continue increasing digital spend
  • Seek new agency partners
• Target demographic: 
  • B2C: ​​​​​​​Legal-age (21+) Gen-Z and millennials
  • B2B: Potential retail distribution partners

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: So far this year, Curaleaf has spent approximately $51k on digital ads; by this point in 2022, it had not yet utilized this channel.
  • YTD data: The company has earned around 15.6m digital impressions YTD via desktop display (54%), mobile display (40%), and Twitter (6%) ads.
    • ​​​​​​​Other than Twitter, this year's top site destinations include chicagotribune.com (16%), liveleak.com, wikifeet.com, culturess.com, and baltimoresun.com.
  • Last year: In 2022, Curaleaf spent roughly $178.9k on this channel, up a bit (2%) from the roughly $174.7k spent in 2021.
• Additional channel insights  
  • Our resource confirms that the company utilizes Twitter ads.

Additional agency insights:

• Opportunity: Reach out soon to see if Curaleaf needs additional agency support to get the word out about its new product.
  • ​​​​​​​An advantage will go to those able to offer location-based services where cannabis is legal.
• Current agency roster:
  • MATTIO Communications: ​​​​​​​PR AOR

Insight Sources: Digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.