By 2026, the valuation of revenue from cannabidiol may be as high as $2.2 M. Knowing how influential the ‘Green Rush’ can be in terms of money, entrepreneurs and small business investors have started to enter the trade and develop online businesses to meet demand.
If you are thinking about investing in an online CBD store, then you should know that it can be a bit more challenging to market than other industries. Because many social media and eCommerce platforms do not allow you to advertise your products. This means you will have to be a bit more creative when coming up with ideas to market your business.
The trick behind the successful marketing of your CBD store is knowing your customers and developing your brand. The following are some effective marketing strategies that you can use to grow your sales and develop your online CBD store.
Native marketing means that you will have to find a way to reach your customers through SEO and advertising on appropriate websites. You might set up an affiliate program to help encourage other websites or loyal customers to take advantage of deals and discounts and to share that with others. Native marketing is much easier when you have a quality website, blog, and brand set up, so make sure those are available before you do anything else.
Social Networks for Cannabis
Big social media sites like Facebook and Instagram limit the marketing options for CBD businesses on their platforms.
Cannabis Business Social Networks are social media sites, that are dedicated to connecting cannabis users and platforms.
You can offer content that educates your audience on these platforms or leverage Social Media Influencers to promote your business there. Build a community and maintain an active presence on the network platforms.
Content syndication is a great way to reach your specific, target customer without spending a lot on marketing. You’ll want to check out popular websites like Medium as a way to republish the articles that you put on your blog and to encourage readers to check out your thoughts as an authority. When you want to reach an audience larger than your current website, then this can be the best way to get your information out there for free.
Podcasts have become an amazing place to market products without having to use advertising with social media platforms. Look for those within your industry to find hosts that would appeal to your customers. You can pay for an advertising spot as a sponsor, or ask if you can go on as a guest so you can share the value your company offers to those looking for information on CBD products.
Traditional marketing is not as dead as you might think it is. Of course, word of mouth is still the most effective way to get customers to try your products, and it’s no wonder that all marketers tend to keep this as an option when they want to reach customers. Whether you choose direct mail marketing or setting up a billboard, you’re getting your products in front of potentially thousands of people and helping to build your brand name. This can be the ideal solution for CBD businesses that cannot market their items online through social media.
Just because you are in the CBD industry doesn’t mean you can’t put yourself out there and develop a name for your brand. There are plenty of ways you can reach the right customers if you have the strategies to do so.