Having set up your own CBD business, chances are you have jumped through many hoops and encountered a few minor hurdles along the way. Now you find yourself on the open market, ready for the orders to come flooding in – it’s an exciting milestone. If you aren’t initially overwhelmed with orders, don’t be alarmed, as it can take time. Fortunately there are simple steps to build on your foundations and grow an established CBD business into a more prosperous venture. In this guide we will provide you with:
- Effective ideas for generating new customers
- Intuitive ways to broaden your marketing strategy
- Techniques for keeping up to date with the evolving CBD industry
Our team of experts at Simply Green also provide a comprehensive consultation service. We can help with inventory planning and keep you updated with the latest CBD industry news and developments, as well as supplying you with a premium range of competitively priced wholesale CBD products. Feel free to contact us so that we can guide you through your business venture and discuss your CBD product requirements.
‘How do I grow my CBD business?’
This is the question that CBD business owners often ask us and, while there is no single answer, there are some simple processes you can follow in order to help generate custom and interest for your business. What we can say for sure, is that staying informed and keeping up to date with the latest news in the CBD industry ensures your business and the CBD products you sell remain exciting and appealing. Customers will return to your store if you offer the latest technologies and products, as well as keeping them informed on exciting product news and information. People value a reliable and well informed supplier that is willing to adapt and this will quickly build trust and brand loyalty. As a CBD business owner seeking to expand, you will need to do your research, diversify your marketing techniques and provide your clients with great offers and a unique, personalised service.
Expand your product range
The amount of CBD products available online today is breathtaking. New product ranges emerge daily and the diversity is what makes CBD such an appealing health product or supplement for such a huge target audience across all walks of life. Expanding your product range to accommodate your audience is absolutely essential. CBD products come in all shapes and sizes and key product lines include:
Each of these different product lines can appeal to different groups. If your target audience is young adults then CBD solids (hash) and edibles might be more in demand. If you are targeting a sport oriented audience then you may want to focus on balms, lotions and oils. Of course people like to browse through all product ranges to see what is available and each product type can ultimately be appealing to any type of person.
Appeal to a diverse target market
With correct advertisement and marketing there is no reason that your chosen product ranges can’t appeal to a much larger target audience. If you currently focus on specific products like oils and vapes, then introduce some edibles or cosmetics to attract the interest of new customers and even persuade your returning customers to try something new. CBD can be tailored to suit many different lifestyles and with a broader range under your belt you can aim to accommodate a larger target audience. CBD products are easily stored and usually have a long shelf life.
Look out for emerging trends
Like other industries, the CBD industry goes through stages of hype over fashionable or ‘on trend’ products. Your customers are also susceptible to impulse purchases and ‘jumping on the bandwagon’ . If you’re aiming to sell high volumes of CBD products then being a supplier of the latest trending CBD products could ensure that you are capitalising on the hype surrounding those new or novel products. In 2020, many CBD manufacturers turned to new and exciting product lines that before had been little known by the average CBD user. Edibles are still in the spotlight and you can see new product lines with refined recipes and different strengths and cannabinoid profiles. Mailers and newsletters provided by CBD manufacturing companies are a great resource for discovering interesting, niche or trending products. Try following popular blogs (including ours) for the latest industry news and ideas. An example of a popular type of CBD item is nutraceuticals. This is a broad term for nutrition based alternatives to pharmaceuticals that contain plant-based ingredients along with CBD. The appeal was that they offered a more wholesome, natural alternatives to some pharmaceuticals.
Explore new marketing channels
If you have your own CBD business then selling CBD online and marketing across platforms is essential. To start, check the media platforms of your choice allow the advertisement of CBD, and keep in mind that some well-known social media platforms require a disclaimer in the comments section that says they are not affiliated with your business or advocating the use of CBD. Where straightforward CBD advertisements are not permitted you can try using ‘lifestyle’ photoshoots that represent your target audience or shop style, feature a link to your shop in the comments or tag your store so that people can easily navigate themselves toward a purchase.
Work with influencers
Another popular method of exposure is working with social media influencers. Influencers have a massive online presence, their own persona, style and expertise or niche to advertise and promote products and lifestyles to a large following of like-minded individuals. Average level influencers have thousands of followers and some of the most successful have millions. If you get this marketing approach right you may be able to reach a new audience and increase sales. People who follow influencers, more often than not, do so because they are inspired by them, appreciate their values and see them as role models. As a result, selecting influencers in line with your business’s core values and who may have a similar audience is crucial.
Encourage new customers and reward loyalty
A proven method of attracting your target audience’s attention and to keep them returning is to be consistent with your online presence and to demonstrate what your CBD business has to offer, including what sets you apart from other resellers. Many larger businesses have a dedicated team responsible for social media and smaller businesses should consider setting aside a portion of the day to manage online media platforms, emails and responses. In this way you can be where your audience is online and encourage them to visit your website.
Focus on your online presence
Using an online presence to interact with your target audience is paramount. This means approaches like uploading photos or interesting information daily so that you can get a feel for the things that prompt a response. Make a note of media that is more successful and try to capitalise on it. You should aim to reply to all of the comments and interactions to deliver a personalised service. Don’t let people forget that your brand exists, and be sure to always provide links to your store and other social media accounts.
Communication and offers
Create an email campaign or newsletter that you can send to people weekly, fortnightly or monthly so you can promote exclusive deals and new product ranges. You could offer a subscriber discount and run competitions and giveaways to encourage excitement about your shop to generate more sales. Each article, post and picture can make a huge difference as it’s a touchpoint between your brand and your customer. Always remember to review how your marketing channels and offers perform to ensure they’re reaching their full potential and are working to drive more traffic and sales to your website.
Don’t back down from a challenge
The current CBD industry is growing and is predicted to continue growing exponentially. More CBD businesses are emerging and the marketplace is getting increasingly more competitive. In order to grow your own business alongside a booming industry and remain a key player, you will need to:
- Ensure your product range is diverse and high quality
- Keep prices competitive
- Offer discounts and incentives to loyal customers
- Build a relationship with customers through various marketing channels
- Offer excellent customer service
As CBD is now regulated by governing bodies such as the FDA and FSA, it’s here to stay and as research develops, so will the laws and regulations surrounding CBD or cannabis related products. For business owners prepared to keep themselves within the evolving laws and legislation and up to date with media and intuitive marketing schemes, there is great potential to stay ahead of the competition and claim a stake in the CBD marketplace.
Speak with our team about your CBD business
Growing a CBD business is both exciting and rewarding. At Simply Green we are one of Europe’s top CBD marketplaces and one of the largest CBD B2B wholesalers. We can provide you with a bespoke and personalised service as well as unique deals and product opportunities. We stock over 3000 high quality CBD products that are available to help you develop your business offering, and you can utilise our white label service to keep in line with your branding and ethos. Our expert team have all of the industry knowledge to get you started and help to further promote and develop your brand. Contact us today and we’ll be happy to help with your enquiry.