Cannabidiol, commonly known as CBD, has become a buzzword in the world of marketing. If you are a cannabis company owner, entrepreneur, or marketer, you might have noticed the growing attention that this unique ingredient has been receiving. But what exactly does it stand for in the marketing area, and what should you know about it if you are considering starting your own CBD business? In this post, we will break down the different sides and peculiarities of CBD marketing and reveal how you can make the most of launching your business in this sector of the cannabis industry.
Definition: What Exactly Does CBD Stand for?
As was already mentioned in the intro, CBD is short for cannabidiol. It is a naturally occurring chemical compound found in cannabis plants. Specifically, CBD is extracted from hemp, a strain of cannabis that contains less than 0.3% THC (according to the Farm Bill). In contrast to THC (tetrahydrocannabinol), the better-known psychoactive compound that gets users “high,” CBD is the non-psychoactive one. This therapeutic component possesses numerous potential health benefits. These properties of CBD have sparked a boom in popularity and interest from both consumers and marketers alike.
Marketing Boom: Why Is CBD So Popular Now?
In the past few years, there has been a rise in scientific research and clinical studies on the possible benefits of cannabidiol. These studies have shown that it may be able to help with a wide range of health issues. From reducing chronic pain and inflammation to easing anxiety and depression, the possibilities for CBD's applications seem almost endless. The increasing understanding and awareness of this cannabis compound's therapeutic benefits have contributed to its rapid growth in the consumer market. So, the need for quality CBD digital marketing has grown along with the number of cannabidiol-infused products, such as gummies, oils, tinctures, edibles, and topical creams.
Legal Landscape: Navigating Regulations
While the marketing of CBD products is experiencing rapid growth, it is crucial to be aware of the legal landscape and the regulatory limitations it presents. In the USA, the 2018 Farm Bill federally legalized hemp-derived CBD by removing hemp from the Controlled Substances Act. Along with that, it kept the Food and Drug Administration's power to regulate some products that contain hemp. However, the FDA has not yet approved the ingredient for use in food, dietary supplements, or cosmetic goods and is at the stage of exploring various regulatory pathways.
All this has created a legal gray area that can make it difficult for marketers to navigate regulatory restrictions surrounding health claims, advertising channels, and product labeling. Nevertheless, staying informed and up-to-date with legal shifts is a crucial part of a successful CBD marketing strategy.
Competitive Edge: Standing out in a Saturated Market
The cannabidiol market continues to expand and is anticipated to reach more than $17 million by 2026. Given that, the competition is becoming fierce, making it increasingly important to have an effective marketing strategy in place. Let's explore several marketing methods to be used within your CBD business promotion plan.
Build a Strong Brand
Building a strong brand is the first and most important thing to pay attention to before thinking about marketing for a small business or an established player. That is because it is key to promoting any CBD company online successfully. Excellent branding will ensure you get the most out of the funds you put into promotion efforts.
Your brand should reflect your company's main values, mission, and unique selling proposition. Branding means making a memorable logo and business cards, keeping your brand's look and feel consistent across all channels, and coming up with a strong brand message that will resonate with your target audience.
Points to Think of Before Starting out
Before getting started with either branding or marketing, it is necessary to answer several meaningful questions, such as:
- Who is the main target audience (age, buying behavior, location, etc.)?
- What main issues does this audience hope to resolve with cannabidiol?
- Will you target existing cannabidiol consumers or those who may be interested in the compound?
- Where will you market your goods? What are the laws and restrictions there?
Once you have a clear picture of your ideal clients, you are ready to start building your brand and implementing the marketing strategies listed below.
Leverage Robust SEO
One of the most organic ways to build your brand's strong online presence is by paying close attention to SEO. Search engine optimization is an important part of digital marketing that can help businesses improve their online visibility and get more quality traffic to their website. Here are some key factors to consider when implementing an SEO strategy:
- Keyword research involves finding the keywords and phrases your target audience is searching for in relation to your CBD products.
- On-page optimization involves improving your page titles, meta descriptions, headings, and content for your target keywords. It also ensures that your website is mobile-friendly, fast-loading, and easy to navigate.
- Off-page optimization mostly involves building backlinks from other high-quality, relevant websites to your site. Backlinks are important in determining your CBD platform's authority and ranking in the SERPs.
- Local SEO implies optimizing your website for local search queries. It involves creating and optimizing your Google My Business listing, building local citations, and including location-specific keywords in the content.
Although this technique is about bringing results in the long term, and it can be relatively challenging to execute, the required budget is usually a lot lower than it is for other advertising methods.
Develop a Content Marketing Strategy
This marketing approach involves creating and sharing valuable and relevant content to draw and keep a clearly defined audience and, eventually, to drive profitable client action. Content marketing aims to build a strong relationship with your target audience by giving them helpful information that answers their questions and addresses their pain points.
Developing a content marketing strategy involves identifying your content goals as the first step. Next comes creating a plan, which should include the types of content (blog posts, articles, product descriptions, reviews, or web content), how often you will publish it, and where you will promote it. Then you can write and promote content and measure the results (traffic, engagement, and conversion rates).
Join Affiliate Programs
Affiliate programs imply that businesses partner with affiliates to promote their products or services. Affiliates earn a commission for each sale or conversion they generate for the business. Find affiliates who are a good fit for your program. It can include bloggers, influencers, and other companies that have a relevant audience. You can consider some trusted affiliate networks such as ShareASale, CannAffiliate, and ClickBank.
Building an affiliate network is valuable to help you inform the world about your goods and offers without you having to lift a finger. This strategy can be a cost-effective method of promotion, a way to reach a larger audience, and a way to increase sales. Moreover, by partnering with other reputable companies, you can earn the audience's trust and differentiate your brand.
Visit Industry Trade Shows
Trade shows are events where businesses and industry professionals come together to showcase their products and services, network with others in the industry, and learn about new trends and technologies. You need to research the right event to ensure that it attracts the right people and offers the best opportunities for networking and exposure.
Moreover, visiting such popular trade shows as the CBD Expo Tour can not only help you demonstrate what your business has to offer and get people on your side but also assess the competition. Therefore, it is essential to select a trade show that is relevant to your industry and target audience and create an eye-catching exhibit that showcases your CBD goods and draws people in.
Conclusion
Understanding CBD's meaning, potential applications, peculiarities of the legal landscape, and winning marketing strategies can propel your cannabis business to success. Keep an eye on industry trends and be ready to adjust your marketing tactics accordingly. Staying ahead of the curve will ensure your CBD brand's steady growth and development in this booming industry!
