In recent years, the CBD industry has become a force with experts predicting mind-boggling exponential growth in the near future. The growing awareness of the many benefits to be gained from Cannabidiol (CBD) has increased consumer demand for CBD products worldwide.
Entrepreneurs are also jumping on this trend, as many stores have opened both on and offline and are looking for a piece of this billion-dollar industry. Financial experts predict that the CBD industry will be valued between $22-23 billion by 2024.
That’s a huge financial incentive to be involved in the online CBD business, right?
That said, the popularity and financial gains of CBD have made the market extremely saturated. It’s now easier than to learn about the benefits of selling CBD online and start-up your CBD business, but how do you attract customers?
Marketing Strategies for an Online CBD Business
The first step to setting up your online CBD venture is creating a solid business plan that takes into account your target customer and market positioning. The next step would be getting customers to your side of the competitive market.
To do this you can make use of the following strategies:
1. Email marketing
This is one of the most effective means of marketing a brand and can provide interest in your company. With email marketing, you are guaranteed to reach a wider range of people from all parts of the world.
Sending emails that make people aware of the benefits of CBD and giving out coupons and promo discounts are some of the ways you can attract new customers and also foster a deeper relationship with your customers.
2. Search Engine Optimization (SEO) strategy
Those who have had experience with marketing a CBD brand, know that it can be quite challenging. One of the investments to make at the early stage of marketing a CBD brand is on a strong search engine optimization plan.
You can go about this by hiring the services of an agency with experience in delivering on SEO strategies specific to the CBD industry. With a proper SEO strategy, you can establish your CBD business as one to be trusted and can attract new clients through web traffic to your website. This gives you a solid foundation to build a loyal customer base.
3. Interesting web content
Your content strategy is as important as having a sound SEO strategy. You can attract more people to your site by optimizing and creating web content that is aimed at making people more aware of what CBD is.
Write engaging web content that is centered around your target audience by making use of keywords related to the CBD industry. These keywords will help you determine the type of articles you need on your website and can offer fodder for your email newsletter.
4. Affiliate marketing
You can also promote your online CBD business making use of affiliate marketers. Affiliate marketers can help you promote your business to those books and crannies on the internet you have not reached, and can offer additional income in ways you might not have expected. Affiliate marketing has played a huge part in the growth of the CBD industry as statistics show it accounts for about 15% of revenue accrued from digital marketing.