Marketing CBD Products: How to Build, Grow, & Scale Your Online CBD Business
CBD is the fastest growing cannabis market in the United States — that means your competition is only going to multiply. The best way to get ahead is to enter the marketplace with clearly-defined branding, a well-designed website, and an optimized e-commerce store.
SAPLING SPECIALIZES IN
CBD web design and SEO
The CBD market has been growing quite steadily over the past few years. Also referred to as Cannabidiol Oil, CBD is actually an active compound found in cannabis. CBD offers a myriad of medical benefits. For instance, it is used in the management of ailments such as arthritis, epilepsy, blood pressure, cancers, back pain and HIV/AIDS.
The rising CBD industry is predicted to rake in at least $3 billion annually. This spells wonderful news for marketers and vendors of this all-natural plant extract. Running an online CBD business is a great idea, but it’s not entirely a walk in the park.
3 tips to facing the challenges posed by running an online CBD business:
- Identifying your target market
If you’re looking to run a successful CBD business online, you’re in luck — there’s a huge demand for this product globally. Cancer patients love Cannabidiol oil not only because of its restorative properties but also because the oil has pain-relieving elements. So the first step to take is identifying the illnesses that you desire to concentrate on. If you’re an adult over 60 years living with arthritis, you could target other sexagenarians with the same condition.
Next, create content that specifically targets your audience. You want to create articles and posts that revolve around solving the reader’s issue using CBD Oil. Write articles with catchy titles such as: “Managing Arthritis Using Natural CBD Oil for Sexagenarians.” Think of creating short videos or podcasts as well.
- Aim to create positive reviews and testimonials
Nothing moves new clients to buy your product as effectively as good customer reviews. As an online vendor of CBD Oil, one of your main goals should be to attract more customers using referrals, reviews, testimonials and a bunch of other smart marketing techniques. If you’ve been using Cannabidiol Oil yourself, use your life-changing experience to draw customers in. you’ll be surprised by the numerous patients who are searching for a reliable CBD Oil retailer online.
It’s time you upped the marketing ante. The more positive reviews you have on your website, the more people will want to buy your product — it’s a basic Marketing 101 lesson. So create a “Reviews and Testimonials” section on your blog and fill it with genuine customer reviews. Use your own moving story with CBD Oil as the curtain-raiser, then explain how this oil has helped some of your clients.
- Figure out an effective funding plan
Like any other business, the CBD market requires some initial capital upfront. You have to develop an effective cannabis business plan. You also need to take care of maintenance costs such as shipping, packaging and branding. So where do you get the money? Well, there are a couple of avenues you could pursue. Use your own personal savings, invite potential investors, take a small business loan or even pull resources together with the help of friends and family members. If you take the first leap, success is guaranteed. So create a good funding plan that works. Figure out your entire budget, and find a way to get that money.
Credit Card Processing Challenges CBD Merchant Account on Shopify
PayPal, Stripe, and other credit card processors refuse to transact with CBD merchants due to the nature of the business. Even if a processor will work with CBD businesses, there’s always a risk they may change their mind with little to no notice. CBD products that make ‘unsubstantiated’ health claims — claims not evaluated by the FDA — will likely find it even more difficult to find a credit card vendor.
CBD businesses are considered high-risk businesses because the substance is still illegal on the federal level. Credit card processors and banks do not want to spend extra resources ensuring that a CBD business looking to open a merchant account is compliant with the legal stipulations. This is why CBD businesses often go to foreign banks and/or processors outside the United States for financing. These types of lenders usually hold funds for weeks at a time.
Retailers in high-risk businesses should look for consulting firms that are willing to work with them. Sapling can board CBD businesses with a Top 5 US Bank/Merchant Processor.
At Sapling, we understand the struggles of CBD marketing. That is why we’re committed to working with you so you can grow & scale your online cbd business. You can give us a call at (385) 722–7065 or email us at email@example.com.
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