The commercialization and the legalization of the hemp and its related product have taken the markets by storm. CBD has shown significant growth in the past few years and will continue to do so. With bright avenues in the industry, many young entrepreneurs are willing to venture into it. However, every coin has two sides. Limited marketing opportunities turn out to be a major disadvantage for some sellers.
Specifically, the new ones who face tough competition from various established brands. Shadow-ban on amazon and the advertisement ban on google and other social media platforms make the situation grimmer. However, with little innovation and a strong strategy, one can make a strong foothold. Here are some top marketing tips that can come handy to all the CBD entrepreneurs new and established.
1. Create a Niche
There is high competition in the CBD market. Differentiating your product from your competitors is the only way to create a competitive edge. However, you can do this by creating innovative product packaging or offering better prices. What appeals to the customers most is the value it creates and the need it fulfills for them. The CBD market is rapidly growing, and luckily the micro-niches are not yet fully exploited.
Having a range of innovative products caters to the needs of a niche market; for example, CBD oil for an elderly pet, travel stress, or workout soreness can be more appealing than a generalized product. Creating a niche can also let you segregate customers. Consequently, a marketing plan to cater to your target market will get you better results.
2. Optimize your website
Since most of the purchases will be made from your website, it is essential to select a user-friendly interface. Appealing and communicative landing pages can lead to better conversions. Since google advertising is banned, you can use time and resources to amplify your website’s optimization. A professional can help strategize on-page and off-page SEO to improve your page ranking on specific high competition keywords like edibles canada. Make sure you get a mobile-friendly website as many mobile users make purchases through their websites.
3. Alternate Marketing Channels
Even though you cannot run paid ads on Facebook or Google, there are still plenty of alternate channels that you can use to your advantage. Influencer marketing, for example, is a subtle way to reach an audience base. Tie up with a team of influencers in your niche who can create promotion campaigns to suit your needs. You can reach out to micro-influencers, who have a smaller audience base, and usually do barter collaboration. Or you can pay a fee to get some high-notch quality promotions from top influencers.
Another great way to expand your digital presence is through affiliate marketing, where bloggers and YouTubers can push your product in return for a percentage of sales they make. For example, you can get your company name printed on jackets from Storm Desire and give them to various industry influencers for promotion. It would help the viewer memorize your brand much more effectively. Both of these methods can be a cost-effective marketing strategy for your business.
4. Try Content Marketing
The power of words is probably the best tool in the present marketing era. Good content gets shared and re-shared, multiple times, thus, there is no limit to how far it can reach. Back your website with an interesting blog that innovatively presents information. Go for gifs, infographics, and videos that create value for the readers or solve a problem. In your blog, you can subtly introduce your products as well. Writing exchange posts is another way to content market your product on other resourceful websites. Content marketing, gradually, brings a consistent stream of traffic to your website, thereby making users buy cannabis online much easier than ever.
5. Promoting through CSR
2020 is the year of increased social awareness. The trending social causes like ‘black lives matter’ have increased consumers’ sense of responsibility towards their surroundings. Likewise, people choose products that are socially responsible too.
One great way to make your product stand out in the oversaturated market is by wisely following Corporate Social Responsibility (CSR). Sharing a minute percentage of your profit to a cause, creates likeability in customers, as they feel a sense of fulfillment in having to spend on such articles. Devise a strong brand image on your website and packaging by displaying messages that support society or convey your value system.
The Bottom Line
The growth of an industry objectively depends on the awareness of the product, despite many users willing to try the product, until lately, there was a lot of misconception about its similarity to the psychoactive properties in cannabis. However, the current year 2020 has been a good year for the CBD industry as it continues to grow. More people are now aware of the medicinal and cosmetic use of CBD. This is a good sign for any entrepreneur who makes ample use of the opportunity. Marketing the product wisely in 2020 can be hugely beneficial in the longer run.