The market is exploding, and with exponential growth comes a need to stay ahead of the competition. ‘CBD’, which is short for ‘cannabidiol’, is a non-psychotropic component of the cannabis plant.
So bountiful are the cannabinoid’s remedial properties that CBD has branched off into a market of its own — one that generated $3.5 billion in 2021. [1]
Since the industry boasts so much appeal, it’s not surprising that millions of people worldwide are becoming increasingly interested in buying CBD products, not to mention CBD for dogs.
According to the HubSpot State of Marketing Report, 2021, [2] more than half of all marketers believe that keyword rankings and organic traffic are the best measures of success for search engine optimization (SEO), which is one of the most integral cogs in the inner workings of Google’s highest-ranking pages and sites.
Whether you’re a manufacturer or seller, you need to brush up on your CBD marketing knowledge if you want to meet demand and serve a comfortable share of the consumer demographic.
Plus, since the average American has access to 10+ Internet-enabled devices in their household, [3] CBD business owners must know how to grasp their audience’s attention with proper marketing.
Factors to Consider When Launching a CBD Business
The marketing of a new product should come with some level of consideration. Jumping straight in and hoping for the best simply won’t do it. You need to understand a handful of elements before standing out with your CBD business.
Some things to consider before your online/offline CBD company’s inception include:
- The competition
- The ideal customer
- The unique selling proposition (USP)
- Product testing
- Media campaigns
- Product lifecycle
In addition to considering the above, you also ought to think about your platform. Since websites are the number two channels used in marketing (trailing only behind social media,) success only follows CBD businesses that own a website.
5 Ways to Maximize the Potential of Your CBD Marketing Campaign
Let the following tips assist you in fine-tuning your SEO strategy for more website traffic, increased leads, and better conversions:
- Go Heavy on SEO – Search engine optimization, otherwise known as “SEO”, provides analytical insights into how consumers find your brand and information about your brand. With some SEO marketing strategies, you will be able to bolster your website’s presence, visibility, and overall ranking. It is even possible to determine what techniques your competitors are executing to succeed. SEO strategies include regular content posting, link building, and keyword-focused page optimization, e.g., titles, meta descriptions, and image descriptions.
- Implement Video Marketing – Showing your face is unnecessary here because you can utilize video marketing to its full potential from behind the scenes. Providing valuable information is key, and when presented in a video, more people will be interested in finding out what you’re teaching. Focus on stories instead of sales, and be wise about how you use the first few seconds!
- Don’t Forget About Influencer Marketing – Paying for product mentions and endorsements from influential figures in the CBD industry (or in any industry for that matter, so long as their following and social status are impressive enough to garner attention for your brand) means that you can attract interest from more people. Hire influencers via sites like Collabstr and Fiverr.
- Take Advantage of Social Media Marketing – A whopping 93% of marketers around the world are utilizing social media as part of their business strategy. [4] This proves the sheer power that social media can have on business growth. Various social media channels, like TikTok and LinkedIn, present the user with diversity in demonstrating what their brand can do. Aside from sharing photos and videos via platforms like Instagram, YouTube, and Facebook, you can also send social media traffic to an informative, well-researched chunk of content (“how-to” articles or blog posts) that builds reader loyalty and encourages social shares.
- Analyze, Tweak and Refine Your CBD Marketing Strategy – Monitoring progress is key to spotting any cracks in your CBD marketing method and, after close analysis, making the required changes (if any) to refine your results. Some recommendations for doing this include SEMRush, Google Analytics, and Ahrefs. Don’t be disheartened if you notice something counterproductive about your marketing efforts because failure is key to learning! No matter how much you feel like you’ve fallen flat, remember that business professionals like Elon Musk failed many times before they succeeded.
Conclusion
According to the U.S. Bureau of Labor Statistics, almost one in five U.S. businesses fail within the launch year. [5] With an effectively implemented marketing plan, the dream of expanding your CBD business need not die. As the door opens for new business scaling opportunities and improved customer acquisition/retention, your CBD business could flourish. The more you know, the more you can reap what you sow!
One of the best tips for remaining relevant and staying on top of new marketing trends involves researching the latest marketing statistics. With broader marketing knowledge, you can make more well-informed decisions for your CBD business. Trusted sources that offer these insights include Statista, Gallup, and Pew Research.
You might also consider attending trade shows to maximize your networking efforts and exploring podcast advertising opportunities to get your message across further.
