25 Apr How to Market Your CBD Business
How do you market your CBD business? Newcomers in the industry may be a little lost since each public platform and each individual state has individual rules. It’s hard to know what’s okay and what’s not. It’s also difficult to know what consumers will respond to.
The CBD industry is growing so fast, it’s easy for new companies to become overwhelmed when they see other companies edging ahead in sales and online visibility. Yes, Canna Trading Co. has its very own brand and product line, but we also offer private label and wholesale services as well. If you don’t know how to get started, we’re here to help.
We’ll help you with tips to market your CBD business so it can be successful.
Here are some of our suggestions.
A Physical Location is Ideal
A physical location increases a CBD company’s reorder rate. Even if it is not a storefront, having a physical address and method of contact where a live person can be contacted is best. It’s also a good idea to have products available in local shops where CBD sales are permitted.
As you start to market your CBD business, listing stores that carry your brand’s products allows customers that live local to go to those stores to make a purchase.
Types of retail locations to sell your CBD products in:
- Farmer’s markets
- Vape shops
- Pain clinics
- Pet stores
- Senior centers
- Addiction clinics
Get creative. Think about your product line and what groups of people might enjoy your products. Yes, it’s a lot of leg work, but in a fast growing industry, a little leg work is necessary.
Consumers still like face-to-face interaction.
If you are a manufacturer and retailer, list your manufacturing facility information so that consumers can see that you do have a real location and you’re not just slapping a label on bulk CBD that you buy elsewhere already mixed.
If you aren’t ready for an actual physical location yet – you still have options. Make sure there is contact information on your website so that consumers can either enter a live chat conversation with an actual company employee and not a chat service operator. Also ensure that a customer service phone number is available and that someone that works directly for your company is fielding those calls. Consumers will have questions, so only actual employees of the company should be answering them.
What are your Staff’s Strengths?
Everyone on your staff has individual strengths. It’s best to use those strengths, as well as your own, to market your CBD business. What are you particularly good at? Maybe you’re good at making slogans or have amazing people skills – this all matters.
Talk to each member of your staff individually. Get their ideas for building brand reputation and online presence. Do they have an idea to get the company and its products out to the masses? Listen to what they have to say and then ask them to write out a plan to put that idea into action.
Create lists. Lists are great. Within each list, finish it with a goal. This might seem like a lot of work, but neither is operating a successful business. These lists will help you achieve your brand’s marketing strategy successfully.
Lists to create:
- Web promotions
- Content marketing
- Content creation (topics calendar)
- Social media posts (don’t list prices or any “benefits”)
- In-store appearances
- Vendor tables at cannabis retailers
- Email campaigns
- Email pitch list for local retailers of all different industries
- YouTube videos
Yes, a YouTube channel is important. If the majority of your business will be in the online world, consumers will want to see the faces behind the brand. Create several short videos on various topics including an introduction of your brand and product line.
Social media engagement is a must! One or two people in your company should be focused solely on social media management. This involves scheduling appropriate posts including content, industry-specific images and products as well as engaging with consumers, building a following and outbound engagement. A lot goes into social media management but it all helps with online presence and brand reputation.
What’s one of the best ways to market your CBD business? Ensure that your customers will get their products fast. Priority shipping is attractive. People don’t want to wait two weeks or longer for their CBD products because they need them now.
Dial in your Product Line
Is it a bad idea to start with a smaller product line to market your CBD business? Not at all. Focus on a specific category of products first. Expand later. Perfect a few products and the marketing of them, and then get your customers excited about upcoming products.
Poll your audience. This will help you understand what products your customer base is interested in and what they’d be more apt to buy.
Do you need to have your very own product to get started in the CBD industry? Absolutely not. That is what private labeling services are for. Some manufacturers, like Canna Trading Co., are well-established and have formulations ready to go that just need your labels on them. Essentially, this is your own product line. Start with a quality product. Work with a company that cares about your brand’s success.
Market your CBD Business
You will need a marketing budget. Marketing is expensive, but it must be done to help get your brand out there. When you’re getting ready to market your CBD business, explore several options. Some options are more expensive than others. Work with the options that are within your budget and create a board for marketing goals.
What is your target audience? Where will the base of your customers be? These are all factors in where and how you will market your CBD business.
Is it hard to market your CBD business? Yes, it can be. The industry is growing at such a rapid pace, the one day you decide to put off marketing your brand until the next day is the day that a competitor will sign a contract for a big marketing campaign. It’s an ongoing process. You can’t ever stop marketing. As society and technology change, the way you’ll market your brand will also change. Make sure your brand is setup to adapt to change and remain trendy. Remaining relevant is just one step on the path to success.