The quiet buzz surrounding the CBD industry has turned into a consistent roar over the past few years. In 2018, the famous Farm Bill was passed, and CBD products became legal across all 50 states.
Since then, it’s been a race to the top.
Cannabidiol (CBD) was nothing but a niche topic before 2016. Today, the trend is hot nationwide- as evidenced by the fact that the hemp-derived CBD market hit 57% growth in 2018! The cannabidiol market is forecast to grow from $1.04 billion in 2018 to $16.32 billion by 2026.
Cannabis companies everywhere are thrilled.
A steady increase in demand has created a race-to-the-finish-line in the hemp and CBD industry. On the downside, marketing your CBD products before FDA regulations are in place can prove to be extremely challenging.
There’s no need to worry though, there is a lot that you can do NOW to prepare your CBD company for future success. There are CBD Books you should be reading so you can to stay in-the-know, and podcasts to listen to- there’s plenty of knowledge available if you know where to look.
Here are five ways to help you stay ahead of the game in the CBD industry.
Outline Why Your Company is Different
The Cannabis market is FULL of companies vying for consumer’s attention. Because of this, it’s important to present your brand as something that stand out in a crowd.
How is your product different from the rest?
Why should a customer choose to purchase your product over another?
These questions can be answered by simply listening to your current customer base.
Observe holes in the marketplace, and understanding the key advantages you might have over other CBD companies.
Play by the Rules
Even if you adhere to all of the rules and guidelines that are set for you, there will still inevitably be some setbacks and unforeseen challenges in this industry.
The best advice is to follow the laws set by your state government, and be open and honest about your products. Failing to do so will damage the reputation you have worked hard to build with your customers, as seen happening with several so-called “CBD” companies that lied about the ingredients in their products.
There are multiple studies outlining the benefits of CBD consumption. However, it is still not yet seen as actual medicine in the eyes of the American Government. So, make sure to acknowledge that CBD has not been cleared by the FDA.
Place a disclaimer somewhere in a clearly visible location on your website. This will help you avoid getting in trouble in the future.
Take Advantage of Content Marketing
SEO and content marketing go hand-in-hand when it comes to building your website’s relevance, authority, and trust with users and search engines alike.
Content marketing is a highly effective digital marketing tactic to use for marketing your CBD products; your target market is actively searching for information online about the health benefits of CBD.
However, when it comes to creating content, make sure that it fills an actual need for your audience, not just a marketing need for your brand.
When performing outreach to a targeted website, instead of pitching your CBD products, you are providing truly relevant CBD related content to potential customers. With correct research into what users are searching for, and by creating content around those searches, you are providing value by helping them understand how your product can help them solve their needs.
The more high-quality blog content you have on your own CBD website, the better your chance of ranking for specific search terms in Google. You should aim to publish anywhere from two to four 1,200 words,
Capitalize on Your Email List
When it comes to driving revenue, there is no replacement for email.
You might feel that your own inbox is too full, and cringe at the thought of adding to the constant stream we all face on a daily basis. However, the stats are undeniable; the ROI of the typical email program is approximately 73%.
Email lists are almost 40 times more effective than Facebook and Twitter combined in helping your business acquire new customers. It’s one of the most effective ways for you to stay in touch with your customers, to offer special deals and provide reasons to return to your online store.
The good news is, when it comes to email marketing, you set the limits. Unlike with paid advertising, your account won’t be shut down simply due to the fact that you sell CBD products. With email marketing, you’re reaching far more customers than you would on social media, and in a much more personalized and meaningful way.
Use Influencer Marketing
It’s tough accommodating Facebook’s limits on organic reach and restrictive paid advertising policies. Influencer marketing allows CBD companies to go above and beyond their current social media following to reach new, perfectly-tailored audiences.
When deciding which social media influencers to work with- be strategic. Your company’s target market should be clearly identified. Then, an influencer with a social following in alignment with that market’s characteristics should be chosen.
In the case of CBD products, an influencer in the health and wellness space, who would be open to experimenting with different CBD products would be the perfect fit.
“Influencer marketing for cannabis companies comes down to matching the company’s target market with whatever sort of following the influencers have, and making sure there’s a really good fit there.”
Don’t have a huge budget? A large number of bloggers and influencers are open to some sort of trade. Be creative with how you approach them. You might be surprised at how willing an influencer will be to collaborate without actual monetary compensation.
Advertising your CBD brand can be challenging, but there are plenty of options for marketing your cannabis brand online that can be extremely effective.
The next few years are going to prove to be very exciting for business owners in the CBD industry. Capitalizing on these digital marketing tactics listed above can help set your CBD business apart from the rest.
Do you have any tried-and-true digital marketing tactics that you’ve employed in the CBD industry? Tell us below!