Starting up a CBD company is one thing, but marketing it well enough to turn it into something successful is a different thing entirely. The craze for CBD is on, but your marketing strategy is what will set you apart from others in the business of selling CBD online.
Here are a few things you can do to market and sell your CBD products successfully.
- Get a good customer base
A study by High Yield Insights showed that around 40% of U.S. customers above the age of 21 say that they would “consider trying out CBD products.” This number will only get higher so find a way to tap into that customer base and get yours.
- Understand your customer base
Carry out a market survey to understand what your customer are looking for. Find out what they want to get out of your products and try to give them that. Also, keep them coming back by creating incentives such as free delivery and discounts.
- Advertise! Advertise!! Advertise!!!
Your biggest marketing strategy will come from your ability to advertise your products well. However, there are things to be wary of when doing that.
For starters, you should not be making medical promises of how your CBD is the ultimate cure for cancer, especially when the FDA hasn’t approved it.
Secondly, you cannot make claims that haven’t been tested. You might be tempted to “exaggerate” the effects of your CBD products, but it is advisable to take it down a notch and make credible, or at least, verifiable claims.
- Be aware of advertising restrictions against CBDs on social media
For instance, Facebook does not allow for the advertisement of cannabis-derived CBD, but hemp-derived ones are accepted. Make sure you are aware of these restrictions and regulations when creating online ads in this way.
- Build a strong affiliate network
Affiliate marketing is worth over $12 billion globally and is expected to grow by 10% within a couple of years. Take advantage of that to reach your target audience and connect with affiliate marketers in the CBD space to get the word out about your products.
- Work with influencers
After building out an online presence for your brand, you’ll then want to invest in social media influencers. Although some networks do not accept the advertisement of CBD or cannabis-related products, you can get past this by working with influencers, as they are not considered advertisers and can thus freely promote your CBD products.
- Combine influencers and affiliate marketing
Both affiliate marketing and influencers work well on their own, but using both combined will increase your chances of succeeding. This strategy will increase the reach of your brand and create a long-term sales channel for you.
- Make use of SEO
It is important to create good content, but people need to be able to find it in order for it to be effective. Half of your customers will probably stumble across your page while surfing the web for CBD products. So be sure to use terms such as “selling CBD online, benefits of CBD, how to use CBD, and how to sell CBD online” in your content and on your website so your website comes up in their search.
Of course, these are just some of the ways in which you can market your CBD company online. However, marketing is important if you want to grow and be a part of the $20 billion dollar industry the CBD industry is expected to become in just a few short years.