CBD has snatched the attention of consumers all around the globe, which might be surprising given the difficulties faced in marketing the product. The size of the CBD market was estimated to be worth $3 billion in 2018. It will grow even more quickly in the months to come.
CBD basically sells itself with glowing reviews from consumers who use it to relieve anxiety, pain, inflammation, skin problems, sleep issues, and so much more.
However, new companies that haven’t been around for years need good marketing skills to elbow their way to the top of the ranks. There’s little variation in the types of products being sold, so the only way to stand out and sell products is through strong marketing that helps you establish a brand.
Additionally, companies like Facebook, Google, and YouTube have restrictions for CBD advertising. You can talk about CBD on these platforms, but they don’t allow paid advertising for any oral CBD products, which can set you back a few paces. This means that you need to find some new options to reach customers online. Big Commerce has stated that regulators are still trying to deal with these challenges, which poses some issues for CBD marketers in the meantime.
Key Solutions for CBD Marketing in 2020
You might not have a lot of creativity with your CBD products, but you can get creative with your marketing. Use these 8 keys to success to help you spread the good word about your product far and wide.
The right CBD marketing strategy can make all the difference in the world. A case study by Canadian marketing firm ColaDigital showed that the company was able to increase sales by 30%.
1. Start with Your Brand
When selling something to an overcrowded market, the best thing you can do is establish a strong, recognizable brand. A brand encompasses the way you come across to the everyday consumer, from your website appearance to your packaging to your social media presence to your customer service to your quality products.
As a newer brand, you need something that will catch the eye and live up to promises being made. Penguin CBD, a newer company that’s quickly working its way up the ranks of top-quality CBD merchandisers, does a great job of this. To begin with, their name is memorable—there’s nothing like it in the CBD market, and their packaging is suave and recognizable.
Their website is simple, but it contains all the information necessary to show that they are a top-quality brand that cares about the quality of their products. It’s fully on-brand and encourages new and repeat customers easily.
2. Find Social Media Influencers
One of the best ways to get ahead in any market is through influencers on Facebook and Instagram who will endorse your products in exchange for a fee. There’s a huge community of CBD influencers who would be happy to write a good review for your products if they meet the quality standards expected in the industry.
3. Use Search Engine Optimization
SEO is a huge part of getting noticed in the CBD universe since most of the research on CBD is currently being done through online search. Building content that leads back to your website will be huge for establishing your brand.
To get the most out of your SEO efforts, it’s all about content. Build a high-quality selection of blog posts, news reports, infographics, video, or other content on your website that establishes you as a thought expert in your field.
This will set you up for a great link-building strategy. Not only can you link your own fabulous content and optimized product pages in publications on news websites, but you can also earn organic links back to your content.
4. Go Back to Email Marketing
Don’t underestimate the power of good, old-fashioned email marketing. You can gather leads through your website and social media, through special offers or lead magnets. For example, you could offer a 10 percent discount or a free downloadable eBook in exchange for an email address.
Once you’ve gathered a decent collection of emails, create email blasts weekly to share new products, newsworthy blog articles, guides for CBD products, and so much more. Your email marketing efforts are a great warming tool to help consumers go from the information stage to the ready-to-purchase stage, and you’ll make it easy on them by sending links to your product pages right to their emails.
5. Try Affiliate Marketing
You can introduce people to your brand by creating affiliate CBD listings on Amazon, eBay, and other websites that are commonly searched for trending products. Bloggers, vloggers, Instagrammers, and more can embed your affiliate link in their website or social page in exchange for a percentage of your sales. It’s a great tool for growing your reach and making more sales!
6. Run Re-targeting Campaigns
Getting new customers is always a goal for marketers, but never forget about the customers that are keeping you in business right now. Remember that if your CBD is of the utmost quality, people will be hooked (in a totally non-addictive way). They’ll run out within 30 to 60 days, and they’ll need more. Make sure you’re ready for them.
Run re-targeting campaigns to remind consumers that you provide great products, excellent customer service, and great value for the price. You might have a rewards program, special discounts for your social media followers, and re-targeting emails to encourage repeat sales.
7. Build a Community
A unique thing about CBD is that consumers want to connect with others who are also using CBD. The market itself is a community of tight-knit individuals who have discovered a powerful secret. Maximize that in your marketing efforts by encouraging community-building with your own network of customers and interested consumers.
Stop focusing so much on the numbers and start focusing on the people. You might create exclusive content for your devoted followers, ask for user-generated content on your social pages, or provide a unique incentive for repeat customers. Anything you can do to bring your followers closer together is a major win for your brand.
8. Follow the Rules
It’s important that you respect and abide by all the rules, regulations, and laws that surround the CBD industry. Every state will have different rules depending on if they allow cannabis products for medical or casual use online or in physical dispensaries.
Additionally, be ethical with your promotions. Be wary of touting untested assumptions, since deceptive marketing can actually hurt your company. It will also prevent you from getting shut down by big advertising tycoons like Facebook and Google.
CBD marketing is not impossible! It simply requires a creative outlook that will help you work through the restrictions and show the world all your products have to offer.
Follow the Right Mindset to Grow Your CBD Market Share
There are a lot of great ways to boost your share of the CBD market. Fortunately, you can take the steps listed above to make a big difference.