Traverse City’s Leaf Traders, a cannabis advocacy development company, Tuesday launched a self-service survey marketplace for qualitative cannabis and hemp market research. The Cannabis Survey Marketplace is a platform for customized cannabis and hemp business-to-consumer and business-to-business research and offers consumers cash rewards for completing surveys.
“It’s crucial for industry startups and established businesses to obtain consumer data and opinions,” says Brad Basar, founder and CEO of Leaf Traders. “The sector is experiencing exponential growth with several segments operating with little to no data. CSM is Leaf Trader’s first platform launch to serve the online data and marketing needs of the cannabis and hemp industry.”
Businesses, professionals, and consumers can create and post custom targeted surveys quickly using three-question formats, six survey types, and thousands of targeting configurations.
The survey is helping to modernize a market research model built on subscriptions that are costly and lack immediate business insights in an evolving economy. A Cannabis Survey Marketplace survey with 200 respondents costs $600 compared to the industry standard of $5,000-$15,000.
The North American cannabis market is projected to grow from more than $8 billion in goods and services in 2017 to $35 billion by 2023, according to Ireland’s Research and Markets.
Leaf Traders is focused on developing technology to promote the cannabis and hemp industry and community. It is sponsoring Michigan’s Commercial Cannabis Conference and Expo 2019, to take place Oct. 11 and 12 at Detroit’s TCF Center (formerly Cobo Center).