The CBD market is a large one in 2021, and it’s only going to keep growing. Market analysts have suggested that the industry will increase by a fifth each year for most of this decade.
If you’re involved in the market, or you’re thinking of investing in it, you’ve picked a valuable, exciting industry in which to apply your trade. However, there are many things you’ll need to take into consideration in order to truly make the most of your journey as a CBD entrepreneur.
Marketing and advertising are two of the most important things you’ll need to get good at to run a successful CBD business. There is a huge amount of competition out there right now, so you need a way of making your offering stand out from the crowd.
We’ve taken this opportunity to look at seven of the most important tips for anyone trying to successfully advertise CBD products online.
1. Explain the Health Benefits of CBD
Most people who use CBD will do so to access some of its health benefits. As a CBD entrepreneur, you’re probably very well acquainted with the broad catalog of health issues for which CBD can be a worthwhile treatment. However, the average customer is not.
Explaining these in detail is one of the easiest ways to generate interest in what you’re selling. Who wouldn’t want to buy a product that can treat insomnia, anxiety, neuropathic and inflammatory pain, attention deficit, and appetite issues? You should also stress that, as a natural remedy, CBD does not carry the risk of side effects that many pharmaceutical treatments do.
If you want to see an example of a marketing campaign that makes use of this approach, Find out more.
2. Explain the Differences Between CBD & Ordinary Cannabis
Other than its applications, this is the main thing you’ll need to make clear when you’re advertising your CBD products. People who know little about cannabidiol may automatically associate it with normal cannabis. While this is understandable, it will lead them to some fundamental misconceptions about the compound and the ways in which it operates.
Perhaps the defining characteristic of CBD is the fact that, unlike ordinary weed, it does not provoke a psychoactive effect in people who consume it. This means users can access all the health benefits outlined above without experiencing a “high.”
This is hugely important, as many of your potential customers have probably avoided cannabis products in the past for fear of having uncomfortable sensations while under its influence. CBD allows people to access all the health benefits of the cannabis plant without experiencing an intoxicating effect.
3. Put Influencers to Work
Statistics show that the social media influencer industry is set to be worth around $15 billion by next year. That’s pretty good going for a business model that didn’t exist a decade ago!
While social media influencers can sometimes be the topic of controversy, their potential to grow brands is undeniable. If you partner with an influencer who has a big following and a persona that matches that of the products you’re trying to sell, you could have a winning formula on your hands.
You need to be careful here, however. If you’re careless about who you choose to partner with, you could get someone that doesn’t represent best industry practices. If an influencer damages your brand, it could convince existing customers to take their business elsewhere rather than attracting new ones.
The most important thing to bear in mind is that an influencer’s number of followers is not the most important thing about them. Often, influencers with lower numbers of followers actually get better engagement from those followers because they have more of a mutual personal connection.
If this kind of connection can be leveraged to sell your CBD products, the influencer has value to add to your business.
4. Sponsor a Podcast
Joe Rogan recently signed a podcast deal with Spotify that made him $100 million richer. His show is one of the most popular podcasts in the world, which means this statistic is something of an outlier. However, it does show just how much ordinary people have taken to the world of podcasting.
As an entrepreneur, you can piggyback on this success by sponsoring a podcast. In return for a fee, the podcast hosts will thank you for your support and explain your brand on the show. If you manage to target listeners that would be interested in your products, you’ll notice an uptick in sales almost immediately.
As a medium, the podcast’s main benefit is its free form and potential to stretch on for hours, if required. If you want to explore a complex, detailed subject (like the mechanisms by which CBD operates in the human body), a podcast would be a great way to do it. With this in mind, a CBD brand that sponsored such a podcast could do well, as it would be attached to an explanation of the compound’s uses and benefits.
Also read 5 Reasons To Legalize Weed
5. Establish Physical Premises
This might seem like an odd suggestion, given the contemporary push to move everything online. However, having a brick-and-mortar presence for your CBD company can offer advantages from the point of view of marketing.
Despite the growing body of evidence confirming its effectiveness and safety, there are still plenty of ordinary consumers who feel uncomfortable with the idea of CBD. This might be because of its association with cannabis, which remains illegal in many parts of the world.
One way you can counteract this is by giving your business an address from which to be based. Seeing your physical location will show buyers your company is not a shady online store.
Your premises doesn’t have to be flashy or expensive. If you have premises you already use for some other type of business purpose; you can simply register your online store to that address. You can also stock your CBD products there for in-person customers, so it’s a win-win!
6. Know the Rules on Social Media
Big Tech companies have something of an iffy relationship with the cannabis industry. Despite the fact that many American states, and countries like Canada, have legalized the plant, tech platforms still restrict cannabis companies in terms of their advertisement and promotional activities.
Facebook, for example, had a total ban on CBD advertising until 2019. They have since relaxed this position, but the platform still prohibits the marketing of ingestible CBD products instead of topical ones.
Knowing these kinds of rules will be crucial for you if you plan to use social media. If you invest time and effort in a campaign on a given platform only to have your content removed (or, even worse, your page banned), you’ll simply be wasting precious resources.
Do detailed research on these types of restrictions before making a final decision on a marketing strategy. When you’re selling CBD products, you should try to base your decisions around platform selection on what each site allows.
7. Build Up a Solid Bank of Leads & Use It Wisely
Potential customers who have yet to make a purchase from you are known as “leads.” A lot of marketing industry tactics are about attracting leads and managing them once you have them.
In order to build up a bank of leads, you need what’s called a lead generation strategy. There are many different types of lead generation strategies; nowadays, the best ones focus on online content, such as blogs, social media posts, viral videos, and podcasts. The idea is that people consume this content and become interested in what you’re selling.
Once you have a solid number of leads, it’s time to start converting them into customers. Your website is a huge factor here; the easier you make it for visitors to buy products, the more you will do so. Allow surfers to reach the payment portal in as few clicks as possible, and make sure everything is laid out in a sensible, accessible fashion.
Taking Your CBD Enterprise to the Next Level in 2021
Marketing CBD businesses is not easy in this day and age. With the number of high-quality brands out there nowadays, it’s difficult to come up with fresh angles and approaches that grab the eye. However, if you employ the seven tips we’ve looked at here, you’ll be well on your way to getting your business near the top of the pile.
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