In the previous decade, the cannabis business has seen remarkable expansion. CBD oil (a subset of the cannabis industry) has grown to be a multibillion-dollar sector in its own right.
With so much fierce competition, you’ll need a well-thought-out CBD digital marketing approach to compete in this business.
By 2024, it is projected that the CBD oil market would be worth more than $20 billion. It’s becoming more difficult to get your CBD brand noticed as more people enter this profitable industry.
That’s why, if you want to stand out from the crowd, you’ll need a full-fledged digital marketing plan for hemp and cannabis.
The process of building a digital marketing plan for cannabis and CBD is broken down into 5 simple steps in our step-by-step guide to digital marketing for CBD.
First, conduct market research
Begin with your ideal client: What are their names? What do they do, what do they require, and what do they care about?
Next, think about your unique value proposition—what makes your brand, rather than your competitors’, indispensable in that customer’s life.
Now think about the most effective manner to communicate that value: What do your customers do with their time and how do they spend it? What must people hear in order to be persuaded?
The initial stage should be based on research rather than theory. This is especially crucial for cannabis and CBD businesses, as both have a large number of prospective clients to appeal to, as well as a number of historical misconceptions to overcome.
Find as many hard facts on your target audience as possible to avoid categorizing your company or clients. Review your Google Analytics, and if you’ve previously built a customer base (whether B2B or B2C), solicit feedback from your real customers all throughout the study process.
Second, define your marketing objectives
Start establishing your goals now that you have a solid foundation of data to work with. These should be in line with your company’s existing objectives, as well as the objectives of other departments on your team.
Your objectives should be SMART—specific, measurable, attainable, relevant, and timely—for the optimal outcomes. You should construct KPIs for each target as you go, as part of the measurability factor.
Keep in mind any restrictions imposed by your local cannabis laws: For example, if you want to become the most well-known cannabis brand in the United States but your state prohibits you from marketing to out-of-state customers, you’ll need to plan in advance how you’ll get there.
Third, weigh Digital vs. Traditional Method
Digital advertising currently accounts for more than half of all advertising: Digital marketing is expected to cost $151 billion in 2022, compared to $107 billion for traditional marketing.
More than 50% of your advertising should be done digitally for most firms, including cannabis, CBD, and hemp businesses.
In the United States, there are over 300 million internet users, who typically spend SIX HOURS AND 31 MINUTES every day on the internet.
CBD Internet marketing can provide more precise audience targeting, data collection, and campaign ROI monitoring.
Every ad purchase you make should be measured against KPI criteria, which is especially crucial for cannabis business owners who are unable to deduct advertising budget.
All of this isn’t to argue that traditional marketing methods don’t have a role in a CBD or cannabis marketing strategy: The optimal plan combines a data-driven combination of traditional and digital tactics to achieve your business objective.
Fourth, obtain an expert opinion
Another typical blunder made by marketers across all industries is failing to have their strategy reviewed by someone outside their organization before implementing it.
As someone who already believes in their own product, it’s tempting to imagine that as soon as you publish your first blog post, all of your target clients would rush to buy all you have to offer.
It’s always important getting a reality check to prevent wasting months on a plan that won’t work in the long term.
This is precisely why agencies exist: they’re your friend that wants to see you succeed, has the time to assist you, and happens to be an expert in marketing. They can help you not with digital marketing for CBD but also with a variety of other important services like hemp content marketing.
Fifth, assess your KPIs and make use of the information
Apart from hemp content marketing and other services the other most important thing is to have someone who can help you make data-driven decisions in real time. Every marketing expense you make must be able to show that it will pay for itself through statistics.
Keep all of your digital campaign data in one place, such as a customized dashboard, and check it daily to understand how your efforts are working in relation to your marketing objectives.
Then, unless the results are exactly what you wanted, revise your marketing strategy. Even if you were ecstatic about the strategy when you first drafted it, don’t skip this step: It’s critical to stay flexible as you get new data insights, deal with budget changes
Summary
CBD Digital marketing companies and their strategies can assist you in developing an effective action plan to help you accomplish your CBD business objectives. To that end, here are 5 pointers to think about as you design your cannabis marketing approach. Read the entire article to find out more!