CBD is a booming industry, now that it is legal all over the US. However, this means that not only are lots of people making money, but many people are struggling to capture some market share. What are they doing wrong?
Fill Your Funnel
You could try to compete directly with other CBD companies on price, but that’s just a race to the bottom. Instead, think long term, and fill your sales and marketing funnel. Take a CBD website like Grown Selection. They sell CBD, but nothing makes them stand out from the competition. However, they put a lot of work into building their audience and filling their funnel. They do this by identifying certain niche communities that might buy their product. You can think about those communities to which you belong, too, and use them as ways to connect with people outside of CBD. For example, you might be into football. Start reaching out to other people who are also into football. Join some football communities on social media. Let people know how football players sometimes use CBD, and remind them that you are a CBD company. Over time, people will remember you, and when they consider CBD, they may consider you.
Get Press in Holistic Health and Cannabis Publications
You might be doing PR today, but are you focusing any of your PR on industry publications? If not, then it’s time to start. High Times is only the tip of the iceberg when it comes to marijuana publications. Do your research and figure out what various pubs like to write about. Then, give them what they want.
Connect With CBD Influencers
If you’re not already on Instagram, then you need to get on there. You’ll find lots of semi-famous influencers who would love to have some new sponsors. It might cost you some money, or some free products, but the returns can be ginormous. Start connecting with influencers and DM them about your product. You’ll probably get a lot of responses, and some of them might work out well.