Are your marketing strategies bringing results, or you are struggling to market your cannabis products? When you venture into the cannabis business, you need to understand that conventional marketing might not be effective because of legal restrictions. If you want results, you need to think differently.
Cannabis products are subjected to strict marketing regulations, making it difficult for brands to penetrate the online market. But with the right tactics, you can beat these challenges and increase your revenue. Have you ever thought of working with a marketing agency to increase your brand’s visibility?
Suppose marketing isn’t your specialty, it’s best to work with a professional. Marketing CBD requires someone who understands the laws, the legal confusions, and the target audience well. Here are some tips from the best CBD marketing agency in 2021 to help in your marketing strategy:
How to Market Your CBD Oil and CBD Products
Target the Right Audience
CBD consumers are diverse in their identities and needs. Consumers come across all age groups, backgrounds, and ethnicities. Some want CBD for health reasons, while others just want something to help them chill out and enjoy their favorite TV show on Sunday afternoon. Selling the same product to such distinct groups can be a challenge. So, how do you target such a diverse group and still be specific? It all comes down to developing an effective targeting strategy.
You can’t have the right strategy without first developing a set of questions your strategy should address. Before you start pushing your product, you need to understand what you need to achieve by answering a selected set of questions, which include:
- Who is your target customer?
- Which age group should you target?
- Does your target audience use CBD for therapeutic or recreational purposes?
- What influences your target audience to buy CBD oil?
By answering these questions, you can have a framework on which to build your strategy. This helps you identify how to approach the target audience. For example, if you decide to go all out and target both therapeutic and recreational users, how will you straddle both niches?
Watch What Your Competitors are Doing
You cannot develop a strategy without considering your competition. Understanding the competition is one of the main reasons for conducting market research. Here, your competition is not necessarily CBD sellers but those who deal with similar products.
If you are selling CBD oil for pain, then your competition includes those who sell other pain medications as well. The burning question after analyzing the competition is, do you have what it takes to claim your share of the market?
When analyzing the competition, look at what they are doing to understand what does and doesn’t work. What’s their marketing strategy, and how much traction do they have in the market? Do they have weaknesses that you can take advantage of? All these questions help you understand what you are up against.
Most of your target clients are people who already use CBD for various reasons. If you want to claim them, you must convince them that your products are better than the competitors’. You can only achieve this by conducting a comprehensive competitor analysis.
Create a Distinct Brand Identity
You need an elevator pitch. CBD products are all over the market already. Unless you are introducing a totally new product, brand identity is what will make you stand out. You need to ask yourself what’s the most striking thing about your brand or your products.
Create a slogan that your target audience resonates with. This requires you have a comprehensive understanding of your target audience. Why do they buy CBD products? What are their interests? And most importantly, what makes them tick?
As a brand, you must be able to appeal to your audience. It is easy to attract customers and forge brand loyalty when you appeal to the customers’ emotions.
Most CBD customers don’t understand the products well because of lack of information. The available information is also confusing. So, educate your customers; it pays. When you provide objective, informative content, customers will come to you not just for the products but also for clarity on the products they use.
Conclusion
Marketing can be tricky, especially when it involves a controversial product like cannabis. CBD products are indeed popular, and the demand is high, but so are the vendors. Whether online or physically, CBD stores are popping up every now and then. What will make your brand stand out and tap into this market is totally based on your marketing strategy?
The CBD industry might seem saturated, but there is still potential and many opportunities. The CBD market is expected to hit $23 billion by 2025. Every CBD vendor out there understands this, and the competition isn’t about to lax. You have to work your way and claim your spot by developing strategies to make your brand stand out.
References
https://blog.hubspot.com/marketing/competitive-analysis-kit
https://www.entrepreneur.com/article/217388