CBD could become a $22 billion business by 2022. Today, the market is flooded with different oils, edibles, topicals, and other CBD products. If you don’t have a unique brand, however, you could fail to stand out from the crowd.
Eager to differentiate yourself from other CBD brands in the industry? It’s easier than you might think. Though the CBD market might feel flooded, there are plenty of ways you can separate yourself from the competition.
Keep reading to discover the CBD marketing tips you need to succeed!
With this guide, you’ll learn everything you need to know about how to start a CBD business that stands out. By building an effective, unique brand, you can boost sales and excel within the industry.
Get started with these easy CBD marketing tips!
What is CBD?
Before you can make an impact on the CBD market, you need to gain a well-rounded understanding of your product. The better you understand your product, the more likely you can market its benefits.
CBD, or cannabidiol, is a compound that’s extracted from industrial hemp and marijuana strains of the cannabis plant. This compound, or cannabinoid, is one of 113 known active cannabinoids found in cannabis. THC and CBD are the two most prevalent cannabinoids.
Unlike THC, CBD doesn’t cause the high that’s usually associated with marijuana. CBD won’t cause a sense of euphoria, hallucinations, or other psychoactive effects. Instead, CBD works on the body’s endocannabinoid system (ECS) to regulate:
- Appetite
- Mood
- Weight
- Pain
- Other bodily responses
By working on these responses, CBD can help relieve pain, reduce anxiety, and more!
How Big is the CBD Market?
The CBD market is already huge. As consumers learn more about CBD products, it’s bound to continue growing, too.
Companies are also exploring new ways to provide CBD. In addition to CBD oil, consumers can also buy:
- Tinctures
- Topicals
- Capsules
- Edibles (foods and beverages)
- Skin products
- Hair products
- Vape oil
- Pet food/treats
Understanding the different types of products can help you determine how you want to make your mark in the industry. For example, you might want to specialize in hair and skin care products instead of oils and tinctures. Choosing a niche will help you focus on a more precise group of customers.
Why is CBD Gaining Popularity?
Why is CBD becoming an increasingly popular market? CBD offers a number of different benefits to consumers. Here are a few to consider when developing a CBD marketing plan.
CBD Isn’t Psychoactive
Many customers are wary about purchasing CBD products because they confuse it with THC. However, CBD is more acceptable and safer than other cannabis-based products. As we mentioned above, CBD doesn’t have the psychoactive properties THC is known for.
People can use CBD products without experiencing the risk of getting high, which is one reason it’s becoming more popular.
It’s Legal
You can also remind potential customers that CBD is legal to use. The Agriculture Improvement Act of 2018 (also known as Farm Bill 2018) made the sale of CBD products completely legal.
Some cannabis products in the US, however, aren’t legal in all US states.
It’s Effective
There are hundreds of different studies and reviews that explore CBD’s range of health benefits. For example, CBD can help reduce inflammation in the body. Inflammation is your body’s natural response to pain and industry.
Chronic inflammation can have negative effects and lead to:
- Cancer
- Asthma
- Heart disease
- Rheumatoid arthritis
- Type 2 diabetes
- Obesity
- Alzheimer’s disease
Taking CBD might help reduce pain responses and inflammation to reduce a patient’s risk of these conditions.
Reducing inflammation might also help patients avoid skin conditions such as acne and eczema.
CBD also potentially increases serotonin production. Serotonin is a neurotransmitter that’s associated with mood and social behavior. An increase in serotonin might help reduce anxiety and depression symptoms.
The results of this study indicate CBD’s potential to induce cell death in human breast cancer cells. Researchers are still exploring CBD’s potential anti-cancer properties.
Other potential benefits of using CBD include:
- Neuroprotection (which can help patients with Parkinson’s and Alzheimer’s)
- Epilepsy treatment
- Reducing muscle spasticity in multiple sclerosis patients
- Easing stress
- Reducing high blood pressure levels (which is associated with stroke, heart attack, and metabolic syndromes)
- Helping people get enough sleep
By acting on the endocannabinoid system, CBD oil might help soothe the pain and health conditions your customers are experiencing.
Know the Challenges
Now that you know more about CBD, let’s discuss some of the challenges you might face in the CBD market.
- Confusion
Some people don’t understand the difference between CBD and THC. There’s a stigma associated with CBD oil because of its relation to marijuana. However, CBD is safe, legal, and effective.
- Crowding
The market is getting crowded, especially since the market is highly unregulated. Hurdles to entry might also make it difficult to learn how to start a CBD business.
As the market becomes saturated, it’s important to create a strong, effective CBD marketing strategy to stand out.
- Differentiating
Some CBD brands also struggle to differentiate themselves and find a position in the market. These brands often fail because they can’t determine where they fit.
Determine your focus. Do you want to solve pain problems, anxiety, or help people with pets? Select a product, such as Bulk CBN Cannabinol, that aligns with your goals.
Choosing a focus will help boost your brand and attract buyers.
- Targeting
Marketing your brand to everyone in the world won’t help you increase sales. Instead, you need to define a specific customer.
Start by learning more about CBD consumers.
For example, CBD consumers average around age 40. They also tend to have higher education and are likely to have full-time jobs.
Do you want to focus on arthritis patients or the vaping community?
Getting precise with your targeting will strengthen your brand.
- Conflicting Laws
Some banks and lenders consider CBD brands high-risk businesses due to conflicting state, federal, and international laws. Make sure to grasp a full understanding of laws and regulations before starting your CBD business.
Building Your Brand
In order to stand out in the CBD market, you need a memorable brand people can connect with. Here are a few tips to help you get started.
- Know Your Audience
As we mentioned above, it’s important to choose a specific target customer. Learn everything you can about them, including:
- Their likes and dislikes
- The pains they experience
- What they’re looking for (health benefits, recreational use, etc.)
- Where they live (and the laws applicable there)
- What they gain from using CBD
Complete demographic research, too. The more you know about your audience, the better you can build your brand.
- Research the Competition
Next, take a look at what the people in your niche and market area are up to. Complete a SWOT analysis (strengths, weaknesses, opportunities, threats). What CBD marketing strategies are they using to attract customers.
Learning about your competition will help you create a unique brand. Otherwise, you could fail to stand out.
- Define Your Value
What sets you apart from everyone else? Why should customers choose you over your competitors? That’s your unique value proposition.
Make your unique value a focal point for your brand. Defining your value will give you a competitive edge in the CBD market.
- Create a Unique Identity
Once you know who your customers are, it’s time to decide who you are.
A distinct identity will ensure your brand is eye-catching and memorable. Create a strong brand strategy to use as a guideline moving forward. You’ll also want to create a message that connects you to your target audience.
Make sure to continue educating yourself about what’s going on in the CBD industry. Then, you can use what you’ve learned to keep your audience informed. Providing informative content will help them recognize you as a credible, reliable resource in the industry.
- Build an Online Presence
First, create a well-designed website that prioritizes user experience. A website that’s easy to use will encourage visitors to click around and explore.
Make sure your website is search engine optimized (SEO). SEO will help your content appear higher on search engines. When someone searches for a CBD company, your brand should appear.
The higher you appear on search engines, the more credible you’ll look to customers. A higher ranking will position you above competitors, too.
Search is the number way to drive traffic to your website. In fact, it beats social media by over 300%. Conversion rates are 10 times higher on search than through social media, too.
Consider working with influencers in your industry. These are people who already have a large social following.
Create social media accounts, too. Then, keep your accounts updated with new blog posts, photos, infographics, and more.
- Reach Out
There are multiple ways you can reach your target audience. Make sure to use your social media channels. Include a call-to-action to encourage them to explore your site or sign up for emails.
Email marketing will help you keep followers up-to-date with your products, business, and industry.
Reaching out will help you build brand awareness and recognition. If you’re out of sight, you’re out of mind. Don’t give people a chance to forget your brand.
- Craft a PR Strategy
A PR strategy will help you promote your brand, boost engagement, and keep your customers informed. Make sure to keep your message and content personal (with your niche audience in mind).
Then, find PR outlets like journalists, press release sights, newspapers, and high-authority blogs to boost your brand.
- Create Content
As you use these CBD marketing tips, make sure to continue creating unique, engaging content. For example, you can continue creating blog posts to inform and educate your audience.
Make sure your content is high-quality and relevant to your target audience.
This content will boost your SEO, which increases your brand awareness. You can also create complementary types of content, such as videos, podcasts, quizzes, and more to boost engagement.
Stand Out and Succeed: How to Start a Brand That Stands Out in the CBD Market
Ready to stand out and succeed? With these tips, you can develop a unique brand that ensures you stand out in the CBD market. Then, you can create an audience of loyal followers to boost your brand even more!
As brand awareness increases, you can also boost engagement, sales, and overall growth.
Searching for more tips? Explore the Business section of the blog today!