Raising Cannabis Capital 0075: Safe Reach

Adam Schlett Founder/Head of Strategic Partnerships at Safe Reach speaks with Dan Humiston about their an end to end Programmatic Advertising solution connecting cannabis advertisers with compliant, safe digital ad inventory across devices and ad formats.  Safe Reach fills the digital, internet advertising void that Google and Facebook created when they refused to host cannabis ads.  Cannabis business can finally promote their products and services on the internet.

Produced By MJBulls Media

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Dan Humiston:
Today's show is brought to you by 3c comprehensive cannabis consulting helps clients design build and optimize their cannabis business from initial assessment and planning through operational and ongoing management. To learn more about how their services are tailored to meet the unique goals and objectives of each of their clients. Go to 3C cannabis.com and for a limited time 3C is giving all MJBulls listeners an additional 10 percent off their fees just for mentioning that you heard it on the show go to 3 C cannabis.Com.

Adam Schlett:
Locate adults in specific markets with specific buying propensities locate them on our network of partner sites Instagram and so we can completely define who we want to talk to and then reach them with an ad tracking engagement and essentially offer just basic programmatic advertising and a scaled and safe environment for cannabis advertisers.

Dan Humiston:
From Buminit media it's the MJBulls Podcast a show about Raising Cannabis Capital.

Dan Humiston:
I'm Dan Humiston. And on today's show how this marketing company is filling the digital advertising void left by Google and Facebook refusal to run cannabis ads.

Dan Humiston:
Today Raising Cannabis Capital series we are joined by Adam Schlett founder and head of strategic partnerships at safe reach. Adam welcome to hemp MJBulls Podcast.

Adam Schlett:
Dan thank you so very much for having me. Man excited to be here.

Dan Humiston:
I'm excited to have you two because most of our listeners know enough about the cannabis industry and know how difficult it is to advertise. But you know there's a lot of new listeners and it never hurts to go back and refresh everybody's memory. What are some of the challenges that cannabis companies face right now trying to reach their consumers.

Adam Schlett:
I think the lack of a scalable and sustainable kind of paid media universe you can't go to Facebook can't go to Instagram which is owned by Facebook. You can't go to Google. And even in instances where you're building organic audiences there's no guarantee that that audience will be available tomorrow due to their propensity to shut down accounts without reasoning. So safe reach was born out of kind of a practical application of data and an interest to be in the cannabis space and an interest in kind of combining those to make a solution that will help fill a void that exists today.

Dan Humiston:
It's the huge void and it's huge void and we'll talk a little bit about say for each of you you take it a little different angle in some of the other people that we've had in the shows and it's fascinating how you figured out how to skin this cat pillar listeners exactly what you do and how you do it.

Adam Schlett:
Yeah. So my partner and I come from the data world where we were taking data from the mobile space from that from the online world from your world and marrying at the individual level through a kind of a variety of processes so that you could take a snapshot of a person and say Hey I know Adam lives in New Jersey Adam makes X income Adam drives his car Adam has device. Adam has these apps on device. And Adam browses these things online kind of major like what most CPG is and pretty much every advertiser out there is utilizing today to build and acquire audiences online. We took this application in our access to data and where we came from and said how do we apply this into the cannabis space to offer a better solution for online customer acquisition which is safe which was born to roll into it.

Dan Humiston:
So you have relationships with many many Web sites.

Adam Schlett:
I'll let you take it from there does to real size to it not to go into like a programmatic advertising one to one. There are supply which are sites and apps that have real estate on their website that they're looking to sell. And then there's users there's people who are on the internet who go to these sites or apps. So then we're essentially acting as just a giant pipe connecting those that's managing and minding the legalities around it while doing so. So we've sourced around a thousand plus Web sites and apps that get a high volume of traffic that are from everything forums to major branded news sites to some dating sites to entertainment sites that are non endemic to Canada. So they're not cannabis related sites that are open to hosting cannabis ads on their sites. We use that data that I kind of flew over and the start the interview to push that into our ad buying environment and use all that data that we've collected through our relationships to locate adults in specific markets with specific buying propensities locate them on our network of partner sites and serve them and so we can completely define who we want to talk to and then reach them with an ad tracking engagement and essentially offer just basic programmatic advertising and a scaled and safe environment for cannabis advertisers.

Dan Humiston:
If you take it for granted because you're in this space and so you know that with wealth happening in the real world outside of cannabis. But for us that aren't really in this space. I mean how you can really drill down to that person and get the message right to them. To me I find it fascinating and I think our listeners will feel the same way. Give us an example of how you would do this for a company.

Adam Schlett:
Perfect example I seen a ton of articles in the last few weeks where baby boomers are the biggest demographic purchasing cannabis the growth demographic right. Someone who is 25 years old and is an avid consumer is quite a bit different than my mom who is 60 and hasn't done anything with cannabis since she was in college. But it's curious and wants to learn more about the different products that are out there and where to go find them right. So that message and that strategy to get both of those people into the store essentially complete the same transaction are very different. So how we use data is to create buckets of audiences that are aligned with whatever the advertiser goal is and let's say it's two major vague and manufacturer someone who's dealing with chronic pain like CBT or like a low dose THC thing may want a different message than someone who's just like smoking every single day and dies every week. Understanding the nuance of the segmentation and then being able to reach those people with the right. And then tracked that engagement at the audience level as it pertains to whatever the campaign goal is is really what we want to be able to help define and execute with cannabis and agency to advertisers et cetera. Because what we're hearing is that doesn't really exist today. And as these brands grow and competition increases which will inevitably happen they're going to want to understand what's the cost to acquire a customer. How are we acquire customers what demographics are growing. What message resonates with each group. How are we marketing these products.

Dan Humiston:
So let me see if I can capitalize what you just said. My mom went to Southwest Airlines website a different ad would pop up then if my son went on the Southwest Airlines website.

Adam Schlett:
Then let's say your son is not 21 and she would not get that ad because we know who is 21 and we know your mom is of age and in that march Southwest is not in our network of sites would love them very well. And Southwest is listening.

Adam Schlett:
But yes that's the right idea.

Dan Humiston:
I want to take a minute to tell everyone about an exciting free opportunity. One of our former guests good harvest company is offering retail operators in cannabis brand managers in the adult use market. Good Harvest Company is preparing to launch a platform which uses customers buying and shopping behaviors to help brands effectively reach their customer and for a limited time good harvest company will offer participating companies free access to their data in return for their feedback. To learn more go to good harvest.co.

Dan Humiston:
So moving forward where do you see your company going. When's the next step for you in this growth phase.

Adam Schlett:
We're familiar with a few of our competitors will kind of have a mixed bag of reviews. So I think the next three months as we've just launched last week with our lot product we've been working on this for about eight or nine months now. As a passionate advocate for adult responsible use have been kind of keeping a pulse on when it was the right time to get involved with what we know how to do. I think over the next three months we're gonna be focused on just all organic growth. We work with a lot of agencies and some brands direct. I think it's no secret that the mass market away from the actual cannabis industry the ones trying to get involved growing any way we can which will typically be through folks who interface with cannabis brands today interfacing with cannabis brands directly and helping them educate them on what's actually available to them now how this works and how it's different and then growing and scaling.

Dan Humiston:
So that involves probably some additional staff and maybe some adding some additional infrastructure in in order to do that you're probably gonna have to raise money because it's tough to do that through cash flow I suspect.

Adam Schlett:
Yeah I mean we are essentially the ecosystem for all things cannabis media related. So while we're collecting money from the advertiser we're also using that money to buy the ad placements and then pay the publishers of the website owner so we're essentially the epicenter of this whole new kind of micro economy we're trying to create on the Internet. We definitely are going to need to propel growth. We'd like to maintain control as much as possible. The big thing for us is what we've discussed is who's going to help us grow through their network of partnerships or brands not necessarily cannabis brands. Who's going to help us get our product into the most agencies or brands that can actually leverage it and utilize it correctly. So those are the people we're really looking to partner with.

Dan Humiston:
Yeah. So in addition to that of financial injection you also need those warm introductions and those strategic partnerships that are only available through some other organizations that already have some of these people that you're looking to partner with. If you're raising capital what exactly are you looking for and what's the opportunity for investors.

Adam Schlett:
Well candidly we're East Coast based so we're probably going to need to move out to the west coast. So I think that would probably be the next stage for us is getting entrenched in the more established retail markets which would be opening up sales in our office out in the West Coast. So that's really what excites us the most right now.

Dan Humiston:
Well we've been speaking with Adam Shlette founder and head of strategic partnership at safe reach with a hyphen in the middle and we'll have all their information I'll have Adam's email address and safe reaches website address on the MJBulls website. Adam thanks for doing the show with us today. I find this fascinating what you're doing and I just think there's a ton of opportunity so really happy that you're on this show to share this with us.

Adam Schlett:
I can't thank you enough obviously any opportunity we get to preach about ourselves a little bit of something we don't take for granted in the way you guys are helping get information to the market that the different companies away from just their marketing websites and having more candid conversations is something as someone who's got a pulse on some of the industry I really enjoy.

Adam Schlett:
So thank you at all. Hopefully I will circle back in six months twelve months and that's some really exciting stuff to talk about.

Dan Humiston:
Well definitely definitely. You have to promise to be back on the show.

Dan Humiston:
But good luck.

Dan Humiston:
Let me take a second to think. Trevett Hill for sponsoring today's show cannabis investors expect big returns from the companies that they invest in. Unfortunately not all cannabis investments succeed. Trevett Hill management team works with investors to help turnaround or in some cases purchased their underperforming portfolio companies to learn more go to Trevett Hill dot com.

Dan Humiston:
Thanks for listening to the MJBulls Podcast. To learn more about today's guest or to become a guest. Visit our Web site at MJBulls.com. Today's show is produced by Buminit media with original music composed by Jamie Humiston. I'm Dan Humiston and you've been listening to MJBulls Podcast.

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