Does money really grow on trees?
No, but it may grow on hemp plants. The long-dormant cannabis industry is finally beginning to take off as governments around the world begin to embrace pro-cannabis legislation.
While the transition to full cannabis legalization is still in progress, CBD has emerged as the perfect commodity to test the financial potential of a legal cannabis-derived product.
And so far, the results are very positive. However, in this article, we focus on the whereabouts of effective CBD marketing.
CBD Marketing Landscape: The Present Picture
According to Health Europa, the global CBD market can exceed a $23 billion (about $71 per person in the US) valuation by 2025.
At that rate, the European CBD market would be set to grow by more than 400%.
As enticing a market as this is, its success is not invisible. An industry this young and this profitable is beginning to see thousands of players enter the market.
However, for business leaders looking to grow their CBD business, this increased competition may be extremely detrimental. But only for those enterprises that are ill-prepared.
Millions of Customers: The Figures are Rising
While there are about 8 million consumers (about half the population of New York) currently in the U.K. CBD market, not all of them are looking for the same thing when it comes to their cannabidiol products.
An opportunity like that means a CBD distributor can offer a differentiated experience if they successfully segment the market. So, the best way to engage a target market for CBD products is to optimize your CBD positioning.
However, both new and legacy CBD distributors overcome the challenges of market saturation. Here are a few pieces of advice you can use to substantially improve your CBD branding.
Things That You Should Know About CBD Marketing and Advertising
CBD products are legal in the USA. But notwithstanding the legality, stringent regulations for marketing have an upper hand on the market. However, to ensure compliance, you need to adhere to the government guidelines.
Firstly, you cannot sell CBD products or dietary supplements in the USA. This is the ruling of the Food and Drug Administration (FDA).
Secondly, any stakeholder directly related to medical practice cannot count on the claim of CBD’s medical and therapeutic benefits for treating diseases.
It implies that you cannot engage in CBD marketing by saying that medical practitioners are recommending it, or they have expressed faith in CBD products. Moreover, in your CBD marketing and advertising, you cannot show the products to people under 18 years old.
Hence, you must design CBD marketing based on these guidelines to remain safe.
Effective CBD Marketing Strategies That Work Effectively
According to Statista’s estimation, the market size of CBD products in the USA can reach 4.3bn US$.
Hence, you can understand that there is a huge opportunity to market CBD-based products.
If a business can focus on effective CBC marketing strategies, success won’t take much time.
However, you need to be aware of the opportunities with CBD marketing and play your cards accordingly.
This section discusses some of the great CBD marketing strategies that can be highly effective.
Engage First-Time Customers:
When entering a nascent industry or a rapidly growing market, the last thing you want to do is focus on taking consumers away from existing products. Consumers are creatures of habit that aren’t necessarily hungry to try new things.
Naturally, this leads to them being very unlikely to leave brands they enjoy or are used to. Therefore, it doesn’t make sense to focus entirely on this segment.
Instead, your business should look to engage first-time consumers who are looking for an enjoyable brand to which they can prescribe their loyalty.
The America Opportunity
A recent American study found that 40% of U.S. consumers above the age of 21 claimed they would consider trying CBD products. Experts even believe that this number will grow as knowledge about CBD becomes more widespread and accessible.
Given similar legal restrictions regarding CBD, the European market may have equally many potential consumers looking to enter it. Effective CBD branding should reflect this demographic’s needs and interests.
Focusing on the Demographics When Strategizing
You will be surprised to know that CBD is showing effective results as its experts are integrating it into Alzheimer’s disease treatment guidelines. Hence the opportunity is huge.
However the lack of CBD education is the biggest obstacle for first-time users to overcome, so an informative campaign might be an effective marketing tool.
Of course, the distributors must have informed and up-to-date know-how on topics of interest to this demographic, such as legalization status, health risks, and preferred delivery methods.
Similarly, these types of CBD positioning decisions can be incorporated into company processes as well.
CBD distributors may want to offer discreet packaging for online deliveries to appeal to first-time consumers.
Some people can feel embarrassed about some of the products they buy, especially if they are not publicly embraced. Many men’s healthcare providers, for example, will use discreet packaging to deliver erectile dysfunction medication to their clients.
Those who are less familiar and comfortable with CBD may deeply value a discreet packaging service where they can feel more confident with their purchase.
Work on SEO
Perhaps one of the most effective ways of CBD marketing is focusing on SEO. Any business, irrespective of its size, must focus on search engine optimization.
It includes a set of activities that a business needs to perform to remain trending on the internet platform.
There are around 200 factors to search engine optimization that a business needs to consider when working on its website if it wishes to stay at the top of search engines.
Although the very method is difficult, time-consuming, and continuous, businesses are spending resources on SEO experts to attain the same.
SEO experts start with keyword research to understand the search trends in marketing. That is the reason we recommend companies to take the help of professionals.
Focus on CBD Marketing
With a market flooded by competitors, it is essential to utilize effective CBD branding strategies to differentiate your business from other competitors.
To do that, it helps to be well-informed. Industry information is often best acquired from market experts on the supply-chain side who are more familiar with the legality, chemical composition, and distribution processes of cannabidiol.
