The CBD industry is growing rapidly with sales expected to reach around $1.8 billion by 2022, Compared to 2018 when the industry was expected to reach half a billion dollars, it is exponentially larger.
But with that comes more competition. if you want to succeed as a CBD company, you'll need to craft a strong marketing strategy so that you will be able to cut through the competition and rise to the top. Here are 10 things to consider as you build the strategy for your company.
Attending trade shows is a wonderful way to get your products in the hands of your target audience. For instance, you can give out samples of CBD gummies for anxiety to anyone who approaches the booth and mentions that they deal with anxiety.
Word-of-mouth marketing remains one of the most powerful forms of marketing. Industry trade shows provide an opportunity to meet with other industry players face-to-face and assess your competition.
Participating in the World CBO Expo and CBD Expo tour, for example, allows you to demonstrate what your brand has to offer so you can get people on your side. In doing so, there's always the possibility of attracting a new audience and potentially, investment for your CBD advertising strategy.
One of the most organic ways to build your brand online is by paying close attention to search engine optimization or SEO. This method can be somewhat difficult and time-consuming to execute but it cost less money than alternative methods of advertising. Hiring an SEO expert is generally the best way to ensure that your resources are used well.
You don't have to worry about breaking CBD marketing rules because SEO keywords are considered marketing and advertising materials if the FDA is investigating any health or disease claims. Using proper SEO will help ensure that you are seeing as a trusted leader in the industry and will make it easier for web visitors to find your site based on their online searches
Content creation is an important part of your overall SEO plan because SEO focuses on using certain keywords and phrases throughout your articles, blog posts, product descriptions, and other web content.
Get in the habit of sharing your content on social media platforms and watch the traffic grow. It's also crucial to carefully curated content to boost your credibility as an authoritative leader in the CBD industry
Reaching out to influencers provides another marketing tactic to keep your CBD campaign as diverse as possible. The more diverse it is the better chance you have of attracting your target market and turning over a healthy profit from your efforts.
Influencer marketing is one of the best ways to do this because it is one of the fastest-growing segments in the marketing world today. 17% of companies claim to spend more than half of their marketing budget on influencers. 65% of influencer marketing budgets are predicted to increase. It is, however, important to remember that influencers that are compensated in any way have to follow FTC guidelines and disclose their connection to your brand.
Build an email list. Email marketing is one of the oldest forms of online marketing but it remains highly effective at attracting customers from all walks of life. Sending deals and coupons to your existing subscribers and customers is a great way to get the word out about your products while also improving customer relationships and retention.
Affiliate marketers are people who can share your products with the world without you having to do anything. Industry data indicates that affiliate marketing spending will grow by 10% over the next few years.
Right now, it's worth twelve billion dollars and accounts for 15% of All Digital media revenue. In 2017, internet users clicked on affiliate marketing links more than 5 billion times. Reach out to trusted affiliate networks such as Cannaffiliate, ClickBank, and Shareasale to get your product in the hands of people who will gladly share it with their audiences in exchange for a portion of your sale.
Yes, we've already mentioned content creation for your website, but content marketing offers another way to help you strengthen your brands. Content marketing involves creating content related to CBD and leveraging publications other than your own website and social media channels to expose it to a broader audience.
Part of content marketing involves creating relationships and establishing authorship on industry publications or publications that are popular among your target audience. It takes a bit of time and effort, but marketing and public relations (PR) agencies are skilled at helping you create and execute a content marketing strategy that fits well inside your overall marketing strategy.
You can use pay per click advertising on social media and search engines to advertise your CBD products. However, there are rules and regulations you need to keep in mind to prevent your ad accounts from being shut down.
Facebook and Instagram may seem like ideal platforms for your CBD campaigns but they're add policies make it next to impossible to have any type of pay dad presents. You are not allowed to post ads that mention CBD or ingestible hemp. Paid ads promoting posts that mention those products are also not allowed. You can, however, post about non-adjustable hemp products such as topicals, creams, and patches.
You can still run some CBD promotions on other social channels like Snapchat. Snapchat does have its own rules and restrictions about how you can talk about CBD or hemp but it is far less restrictive than Instagram or Facebook.
Outside of social, Google and Bing have strict add policies for CBD and hemp. Some mention of him is okay in a shopping campaign, but CBD itself is strictly prohibited.
Because there are so many different CBD brands and products out there, it is crucial to separate yourself from the rest of your competition by focusing on your unique selling position. What is it that makes your company different from the others? do you use a higher-quality CBD oil or isolate in your products? do you contribute a portion of fails to charitable organizations or causes like NORML that help push for full cannabis legalization at the federal level?
In the CBD industry, it's not enough to say here's a high-quality CBD oil. Go beyond your product or products themselves and think of the ways you can position yourself as better than the rest. This may mean doing some competitive research to see what your competition is doing so that you can find ways to do it better.