CBD
It’s not every day that a product manages to capture the attention of the global consumer market in such a short period of time. However, cannabidiol – or “CBD” as most people call it – has contributed to a surge of excitement in the medical market. Perhaps one of the most talked about cannabinoids, CBD is dominating its own industry and is on track to reap a generous $16.32 billion by 2026.
The demand for effective CBD marketing is on the rise, and it’s no wonder why. Scientists have so far successfully isolated Hemp113 active chemical compounds of the leafy green plant. In the past, the cannabis community focused its attention firmly on the plant’s psychoactive component THC (tetrahydrocannabinol) – but now, thanks to a growing body of scientific evidence pointing to the therapeutic potential of hemp and hemp’s non-psychoactive chemical compound CBD, the market is constantly evolving.
What is CBD?
The non-psychoactive substance, cannabidiol, or “CBD” as it is most commonly known, can be extracted from either hemp or marijuana plants. The legality of CBD is a grey area; for example, CBD in New York is fully legal, compared to in Hawaii where only hemp-derived CBD oil is legal. The vast majority of products featured in CBD advertising strategies will be extracted from industrial hemp.
CBD falls into two main product segments:
- food quality and
- therapeutic grade.
Why is CBD Marketing So Important?
The CBD marketing frenzy is truly upon us. Everywhere you look online, whether it’s in the form of a CBD-focused ad that grabs your attention on Facebook, a search engine-optimized CBD ad campaign that links to an online store via Google, or a captivating Instagram story with a “Swipe-up ‘ link that directs visitors to a website, the rise of CBD marketing is hard to ignore.
Finding new customers.
According to a study, approximately 40% of US consumers aged 21 and older say they would consider trying CBD. This number is set to grow, which is why it is critical to find customers by leveraging the power of CBD marketing. Customers want your help, so you have to be the one to give it to them!
Differentiating your brand.
The CBD space is truly bursting at the seams, with more companies springing up daily.
This doesn’t mean you should give up on your dreams of making money with CBD marketing, but rather learn how to stand out and differentiate your brand from others. This is possible by constantly educating your audience.
Engage your audience by creating compelling video content, conducting industry research, and don’t be afraid to show consumers how they can benefit from your services. You can also consider targeting a specific niche.
Customer retention.
CBD marketing can help you attract repeat customers. Affiliate marketing is a great way to achieve high retention rates, but only big brands tend to attract affiliates, which proves the importance of building brand awareness.
Placing legitimate customer testimonials on your website that make legal compliance statements will strengthen your reputation and keep customers coming back for more. If you want to achieve better overall engagement and increase the likelihood that customers will return, send newsletters, offer discounts to repeat customers, and encourage them to refer a friend in exchange for a free product.
Conducting surveys will alert you to customer needs/wants and will point you to areas where you are failing to satisfy customers. You may also want to focus on solving problems, providing ongoing support, and of course staying in touch with your customer base to sell your Hemp113 products1!
Conclusion
CBD appeals to a diverse group of consumers of all ages – and even pets. If you are cashing in on the “Green Rush” and wondering how to sell CBD products effectively and legally, then you will need to use an effective strategy.
Before starting an online business with CBD oil and alternative products, understand the rules for marketing CBD oil so that you can bring your business into compliance with national laws.
