Highlighted by scientific and medical communities, CBD oil is hailed as a miracle drug for providing relief and possibly a cure to major medical conditions. It's had a significant increase in popularity recently.
What is CBD?
CBD, or Cannabidiol, is a compound of cannabis discovered in the 1940’s. It is claimed to treat pain, anxiety, depression, PTSD, and other major medical conditions, including diabetes, epilepsy, arthritis, alcoholism, and yes, even cancer. While research is still being compiled to better substantiate these findings, CBD’s popularity only continues to rise.
What’s also great about CBD is its ability to calm our aches and pains without getting us “stoned,” lethargic, or affecting our cognition, unlike its counterpart, THC (tetrahydrocannabinol). Thus, CBD manages to appeal to a much wider crowd than the typical cannabis consumer.
Marketing CBD like a Pro
Hollywood has dipped into the CBD enthusiasm, having been publicly endorsed by famous personalities like Willie Nelson, Whoopie Goldberg, Mandy Moore, Morgan Freeman, and Michael J. Fox. Even Sanjay Gupta, the famed doctor on CNN has endorsed it on the Dr. Oz Show for its ability to “really help people.”
Since its newfound fame, CBD has been marketed in various forms like oils, capsules, dog products, candy, iced teas, and even coffee beans.
If you’re a marketer trying to gain a sizable share of the CBD pie, there are ways to successfully position yourself in the market to drive brand awareness and increase sales.
Here are seven tips to improve your marketing strategy. Pay attention to details because it can be a little tricky.
1. Find Your Niche
With so many marketers dipping in the same pond, you have to step back and create your own strategy. Establish a brand that rises above the noise. Develop your own unique stamp that’s different from the rest of the marketing machines selling CBD products.
Don’t be the casual marketer who makes the mistake of enticing a general audience. You have to conquer a niche that you can grow over time, a market that requires your personal touch. When your audience falls in love with your brand, they’ll profess it with loyalty, endorsing your products to and within their own pipelines.
2. Know Your Specific Market
If your product is packaged towards a certain group of individuals, you have to get to know where they hang out, which social media channels they’re active in, and what kind of merchandise appeals to them.
Then you need to establish presence in their groups, forums, TV and radio shows, chosen causes, and brands. You have to join their tribe. The more visible you are, the better they’ll remember your brand.
CBD products reportedly appeal to in-the-know individuals who must have read or heard about it from colleagues or celebrity endorsers.
3. Advertising on Social Media
Google, Instagram and Facebook are a no-go when it comes to advertising CBD. The media giants have strict policies on promoting marijuana and CBD products.
However, you have other digital channels to tap into for customized promotional campaigns. For example, Youtube influencers have been a great marketing tool for CBD products so far.
Make sure to include your own website and those of others you can collaborate with, such as bloggers and influencers. Back-linking your website to their endorsements is highly recommended.
4. Are Paid Ads Worth It?
Considering the biggest social media platforms do not allow CBD ads, posting paid ads on channels that allow CBD promotions to their respective audiences may be worth looking into.
Twitter, for example, allows paid ads on CBD as long as there are no health claims or supplements being mentioned. Remember, advertising CBD as a cure to treat chronic conditions may not pass the FDA’s strict promotional standards.
5. Legal Constraints
In the world of marketing CBDs, not all states are equal. According to the 2018 United States Farm Bill, CBD derived from hemp is legal for commercial use but the THC composition in the product must be less than .01%.
The FDA does not allow CBD to be treated as a supplement and still does not give permission for CBD to be added to any food product. So research the specific state’s law on marketing CBD products and always be up-to-date with what’s allowed and what’s not.
6. Stir your Creativity
Just because CBD has restrictions when it comes to marketing doesn’t mean you’ve hit the wall. Be creative. Use creative content marketing strategies that present helpful information on CBD and insert a link that leads your audience to your website. You may ask influencers to post or mention your products. The possibilities are plenty.
7. Choose the Right Influencers
Your influencers should mirror your image and represent your brand. They should also be reaching the target audience that mirrors your own. The best way to know who to collaborate with is to get to know your own audience and research where they’re hanging out at and who they’re listening to.
CBD is a promising industry where you can win if you know how to leverage your brand as a market leader in your chosen niche, and you should be excited.
But with great potential for profit comes a greater responsibility. And, of course, a knack for research. So do your part. Know the ins and outs and the go-arounds. Over time, as we learn more about CBD, marketing this generation’s “fountain of youth” will be a cinch.