CBD is one of the fastest-growing industries since the passing of the Farm Bill in 2018. This was monumental since it allowed farmers to start growing hemp for industrial uses. With CBD no longer being restricted due to its low THC content, many states now allow its use and it has become a booming business for entrepreneurs. Since more than 50% of sales are online it makes sense to plan out your CBD marketing efforts.
Why CBD Marketing is So Important
Everywhere you look you see advertisements for a new CBD product. It might be an ad on Facebook or a story on Instagram prompting you to visit their website. Social media sites are good for CBD marketing because of the exposure the product will get. Users share posts and comment creating activity focused on the topic. It has a very positive effect.
The Goal of CBD Marketing
The goal of any marketing campaign is to enable the product to sell itself. If you find the right audience and target your efforts towards the people looking for your product much of the work is already done. You can hire a marketing consultant to create a campaign for you designed to accomplish this task.
Even though much of the country knows about CBD, about 40% of consumers have never tried it but said they would consider it. So finding new customers is not impossible. You just have to make the product available and get them to come to you. Many people are aware of the benefits of CBD and would consider trying it if they were presented with the opportunity. These are the people you should be focusing your CBD marketing efforts on.
Marketing Strategies for Your CBD Business
The sales of CBD products are expected to hit $16 million within the next 5 years, according to industry analysts at Cowen Research. Developing an effective marketing strategy will help you tap into this market and learn the art of selling products online. Here are a few tips for getting the attention of your target market:
1.Know your target customer
The first step in any type of marketing plan is knowing your target audience and their pain-points. Finding out what they like, don’t like, the problems they face, and how it affects them will make you an expert on that topic. Learning all you can about them will position you to serve them better.
2. SEO is your best friend
When it comes to marketing, one of the first things you should do is make sure your website and your content are optimized for search engines. It is the best free way to get organic traffic to your website or sales pages. Using SEO keywords that users are searching for will ensure that visitors find you and your product.
3. Content creation is key
Because keywords are important for search, creating content based on the topics and phrases people are searching for will help you stand out as an authority on the subject. Content creation is very important and your site should have a lot of informative content to educate visitors on the benefits of CBD and keep them browsing your site. Linking pages by related keywords also help readers go from one post to another which increases the chance they will buy from you. You can also share your posts on social media sites for more exposure.
4. Build an affiliate network
Affiliate marketing is another way to get your product out there and garner more sales. Affiliates are people you hire to do some of the marketing for you. They will use your ads and banners to advertise your product through their social media channels and in their content. When a visitor buys your product through their affiliate link they earn a commission or a portion of the sale. Affiliate marketing transactions around the world accounts for 15% of all digital media revenue since 2017. Some examples of affiliate networks include Clickbank, ShareASale, and CannAffiliate.
5.Attend CBD-related events
CBD-focused events like World CBD Expo and the CBD Expo Tour are great places to show off your product in its best light. Help your brand stand out and introduce people to the benefits of CBD. Besides just introducing your brand, you’ll have the opportunity to meet others in the industry and make some new friends. This can be helpful when forming partnerships and networking.
6. Influencer marketing
Try to incorporate as many marketing tactics in your CBD campaign as possible. Since influencers aren’t considered as advertisers, getting them to speak about your product or show your ad on their social media channel is a great way to reach a wider audience and gain exposure for your brand. Influencer marketing is one of the best ways to introduce your product to thousands of people all at once since these people often have thousands of followers on their channel. Since social media content is easily digested as images or short videos, it encourages more peer-to-peer sharing, which helps brands improve their target audience reach. Popular companies admit that they spend over half their marketing budget on influencers.
7. Utilize email marketing
Another marketing method not to be overlooked is email marketing. It is one of the oldest forms of online marketing still in use today. You build a rapport with customers after getting their permission to send them advertisements and marketing content (through opt-in). You can create a monthly newsletter, send out coupons for sales, and let customers know when you get new inventory. Email marketing is a great way to build trust and retain customers.
The CBD industry is growing and is expected to become a billion-dollar industry by 2025. If you’re a CBD business owner you need to get in the game and build your brand to help it survive the next five years. There will be more and more competition so get started if you want to play.