Cannabidiol, commonly known as CBD, is increasingly becoming popular. Awareness and consumption of CBD products, their recreational qualities, and benefits are rising. According to the latest projections, the CBD market can be worth over $16 billion in the next half-decade. Thus, there is plenty of opportunities, but it is salient for CBD brands to understand the current trends and formulate their own CBD brand marketing strategy for success.
CBD branding refers to the way you share your brand's ideologies and unique messages with people. The branding of your company provides a blueprint for your marketers to put forth a solid CBD marketing strategy. It includes your company's position, values, assets, and the narratives that you wish your target market to learn. A unique branding helps your CBD brand to become more visible and credible.
Market research is one of the essential components for any successful marketing strategy. The demand for CBD products is on the rise, and so is the competition in the industry. Thus, it is significant to devise an excellent market strategy and establish a distinct identity in the market.
It is inherent to know the answers to questions, such as 'Who is your target audience?'. This will be crucial to retain your brand's identity and carve your niche in the over-crowded CBD marketing place.
Understanding one's audience and the market is a preliminary step to draft any marketing plan. Ask yourself if you have the answers to these questions:
What are the demographics of my target market?
What is the age group that my brand wishes to target?
What is the dominant reason for these people to choose any form of CBD product in the first place?
Who is my ideal customer?
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As part of CBD marketing best practices, you must stay on top of the latest retail trends, know what your target market comprises, how they think, what they expect from your products, and your top competitors. Once you have dealt with these questions, it will be easy to figure out how to position your products and engage with your market in the most meaningful way.
Even today, there is much stigma around CBD. The confusing laws and lack of education might also become a hurdle to gaining scientific knowledge around the usage of CBD products. Thus, as a responsible and quality-driven CBD brand, you should provide value to your customers by educating them about CBD and the products you provide. Encourage your audience to make informed choices.
While advertisements are short-term ways to attract users to your website, building a solid user base through organic means enhances customer trust, loyalty, and your brand's credibility. Let's check out a few ways to build your presence:
One of the well-known ways to draw organic traffic to your website is using Search Engine Optimization (SEO). You can devise an SEO plan and target keywords that give your content the required push. This can include educational blogs as part of your educational CBD digital marketing strategy. Keep in mind that it is necessary to ensure that your content stands true to factual data and is unambiguous.
In the arena of digital marketing, influencer marketing is a popular tactic to help brands penetrate their reach and connect to large target audiences. It works very similarly to word-of-mouth marketing. An influencer can personalize their experiences and adventures with CBD products, align their value with the brand's, and promote the same among their followers.
In contemporary times, no company that wishes to garner organic traffic can afford to ignore email marketing. It is necessary to dedicate a part of your CBD digital marketing to email marketing and social media campaigns. A robust mix of sending strategic emailers embedded with coupons, updates, quality informational pieces, and aggressive social media presence can provide your brand with quality leads and users.
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While crafting a CBD brand marketing strategy, you should consider what is permissible under the established rules and regulations. For example, you shouldn't indulge in deceptive CBD marketing, make untested claims and assumptions, and shouldn't market anything unapproved by the FDA. You must follow the FDA guidelines. In addition, do check out what individual social media platforms permit to avoid any penalties.
Your CBD brand marketing strategy needs to strike a chord with people and retention in their minds. This way, you will be able to stand out and have the edge in this cut-throat industry. The main criteria that you must follow are to understand the needs of your target market and keep satisfying them.
Keep in touch with your customers and engage them with your brand uniquely. Educate them and be dynamic in terms of your content presentation. Furthermore, keep utmost priority in retaining your customers while acquiring new customers through your forthcoming CBD marketing strategies.
Despite the social and financial trauma of Covid-19, CBD businesses proceed to exhibit clues of endurance with healthy confederation, customer spending, and investment in strategic marketing. Brightfield’s data shows that as of May 2021, the top 20 CBD corporations make up over 19% of the total US CBD market.
Therefore, before starting to work on your CBD marketing strategy, look at what other CBD brands are doing well and how you can take inspiration from them. We have analyzed a few portfolios here for you.
Charlotte's Web is one of the ancient, most prominent CBD brands. It cultivates hemp in its farms in Colorado. All of its commodities are gluten-free, non-GMO, and vegan. However, their hemp is not certified organic, and the company is in the process of getting authorization.
The company is transparent about what goes into its products. They are delivering batch-specific certificates of analysis (COAs) online. Likewise, they are translucent about their technique, giving consumers an outline of their planting method and quality control processes.
Distinguished with other firms and considering efficacy, its commodities are moderately inexpensive. They vary from approximately $15 to more than $100. The firm also gives a discount for veterans.
Medterra is a CBD-focused, THC-free brand with broad mainstream customer interest. Their emphasis on assuring quality and quantity led to rapid consumer interest. Besides, they have explored the medical properties of CBD with their Medterra clinical brand.
Medterra refines all of its commodities in a certified Good Manufacturing Practices (cGMP) facility that procures regular audits from the FDA. Their systems and supply chain specialist also audits suppliers to guarantee cGMP standards.
Many of its commodities are accessible in at least two potency layouts and are THC-free.
The company is proud of itself for delivering CBD products that are much cheaper than others. However, there are no discounts available, and the corporation does sell a few value packets. It also has a loyalty policy that gives consumers points for every buck spent and reclaims them for discounts.
American shaman is one of the prominent CBD brands and CBD providers in the US. They have a wide variety of CBD products with various specifications. You can select from varied flavors that can fulfill your tongue, bottle sizes, and efficacy level.
They utilize non-GMO organic hemp, proprietary nanotechnology, and CO2 extraction techniques. All of their commodities run through an assessment in third-party laboratories.
American Shaman CBD products have a moderate price. They only release products that enact the standards as well as third-party lab testing. Buyers can get discount coupons for much lower rates.
CBDfx is a prominent company in the CBD industry. It has received a top rating on the Better Business Bureau and obtained many positive online reviews from its users. Reviewers applaud the corporation for everything from the comfort of ordering and the delivery procedure to the commodities themselves.
CBDfx is pretty clear about its commodities and methods. Its products are manufactured in facilities that meet modern manufacturing methods (CGMPs) trusted sources. So, their products are of great quality and can be purchased online in the US or UK.
CBDfx products are slightly expensive, and they are using pure organic compounds. Thus, the company has to pay just more to get organic hemp. In many cases, this expense cost is reflected in the price of products.
Consumer preferences have shifted online, with 38% of CBD products sales expected to happen via online channels in 2021. It is paramount that your CBD brand work on a digital marketing strategy that distinguishes you from competitors creatively.