Did you know that the CBD business has been one of the fastest-growing consumer industries since the passing of the 2018 Farm Bill? With the legalization of commercial hemp production, CBD sales in the United States have significantly increased. It’s estimated that in 2021 the e-commerce sales of CBD products reached approximately $2 billion, with this figure expected to rise to $6 billion by 2026.
Your CBD business needs to establish a successful marketing strategy regardless of whether you’re an established CBD company or a startup to stand out from your competition. Yet, we know that cannabis marketing in Michigan can have its challenges, especially considering the many legalities and restrictions surrounding social media marketing of CBD products in the US. That’s why you should ponder speaking with an experienced marketing and technology agency.
In our article, we will discuss four innovative marketing techniques for CBD businesses that have been proven to work. With our assistance, your CBD business will receive the hype it deserves.
The Four Most Innovative Marketing Techniques For A CBD Business
According to a report released by High Yield in 2021, 32% of people in the US have heard about CBD products and are interested in trying them. As can be evidenced, there is a strong pool of consumers interested in CBD products, so all you need to do is get your business noticed with the right marketing techniques.
With the help of a professional digital marketing agency and the techniques below, you will be one step closer to obtaining new customers and greater profits.
1. Influencer Marketing
One of the best marketing techniques you can use is influencer marketing. Unsurprisingly, influencer marketing is one of the fastest-growing marketing segments globally and is one of the best ways you can get your CBD business promoted on social media.
Approximately 17% of companies claim to spend half of their marketing budgets on influencers. When you allow your CBD business to partner with like-minded influencers, you promote your brand in a positive light. Yet, it’s crucial you find the right influencers for your CBD brand as you don’t want to increase your brand’s awareness for the wrong reasons.
Vet your influencers and establish their goals and what they can offer your business by evaluating their skillset. Additionally, make sure to consider their reputation across social media platforms.
You don’t want a controversial influencer promoting your business who is not trustworthy in the influencer space. That’s why it’s often best to use credible fitness instructors, lifestyle gurus, athletes, and health experts as influences for a CBD business.
2. Create SEO Friendly Content
Arguably, one of the best organic marketing techniques for your CBD business is to use search engine optimization alongside compelling content.
Blogs, in particular, are one of the best mediums you can use to provide your consumers and potential clients with relevant information that will allow you to create a connection with them. Combining a solid SEO strategy with your online content can build trust, which is incredibly important if you want to turn cold prospects into paying customers.
Fortunately, SEO fits seamlessly with your blog content because SEO largely focuses on implementing high-volume phrases and keywords throughout blog posts. You can also use SEO in your web content, articles, and product descriptions.
In addition to blogs, CBD businesses should also consider SEO-friendly video content and podcasts. It’s believed that there will be approximately 50 million more podcast listeners in 2022, so entering into podcast marketing could be incredibly beneficial for your business.
3. Build Your Own Affiliate Network
If you aren’t utilizing affiliate marketing, you need to consider this marketing technique for your CBD business.
Yet, what is affiliate marketing? Simply put, affiliate marketing refers to the process whereby an affiliate earns a small commission for marketing your business’s products.
Affiliate marketers can be an invaluable tool for your business because they help inform potential customers about your CBD products without you needing to do any work. If you’re not yet convinced, consider these statistics:
In 2017, web users clicked on various affiliate marketing links more than five billion times.
In 2017, global affiliate marketing transactions exceeded $170 million.
Approximately 15% of total media advertising revenue is earned through affiliate marketing.
Around 81% of brands use affiliate programs to help them generate income.
4. Use Email Marketing
Although traditional email marketing is considered one of the oldest forms of marketing, it is still one of the best marketing techniques you can use for your CBD business. Unlike other marketing techniques that target specific demographics, email marketing allows you to market towards and attract customers from all walks of life.
Although targeting a certain demographic when marketing is not a bad idea using demographic marketing techniques alongside email marketing will help you attract even more potential clients.
To begin a successful email marketing campaign for your CBD business, all you need to do is send out coupons or exclusive deals to new or existing customers or subscribers. Not only will this allow you to get the word out to your clients, but it will also improve customer retention and relationships.
Although the legal CBD industry is in its infancy, it is experiencing tremendous market growth. If you want to become successful in this industry, you need to utilize innovative marketing techniques. With the right marketing strategy and adequate research surrounding the CBD marketing legalities, your CBD business can be successful.
At Mutarex Digital, we can help you create a winning marketing strategy using the techniques we spoke about and others to get your CBD business noticed. To learn more about the digital and SEO marketing services we offer, you can contact us at (248) 301-6688 or fill out our easy online contact form. We’re eager to help you grow your CBD business.
