The estimated annual value of the CBD market in the USA is $3,088.51 million and is expected to rise by 125% year-on-year for the next 5 years.
Whilst CBD is not a new trend, it is certainly a market that is still developing and growing. So, how can you become involved in the marketing of CBD oil and exploit this previously untapped market?
Here’s how you can market CBD oil online in 2020.
Focus on Hemp Products
If you are concerned about the legal ramifications of marketing CBD online, look for products that are derived from hemp. The USA and Europe have a list of certified growers that are able to cultivate and produce CBD products from their crops – most of these crops are hemp.
Hemp does not have any THC, which is the psychoactive compound that many governments ban for recreational use (or any use). The letters THC stand for Tetrahydrocannabinol. If a substance is psychoactive, it affects the mind.
Drop the Paid Ads and Focus on SEO
This may seem counter intuitive, but if you are marketing CBD and are unsure of the legal framework and where the product you are marketing fits, drop paid ads. You can still funnel customers through to your sites through a variety of different approaches.
Consider what types of questions your target market is going to be typing into Google, Yahoo, and other search engines when they are researching potential products that they want to buy (such as premium cbd hemp flowers). You need to make sure that your online content, blog posts, and other types of material are geared towards consumers’ search words and phrases.
Once you have optimized all areas of your website and associated content, you can then place ads on them, i.e., ads that will direct visitors to the part(s) of your website where they can make purchases.
Even though this approach isn’t as clean and straightforward as simply using paid ads, your end result will be more visitors and greater sales, which ultimately mean greater profits.
Content is Everything
No one enjoys reading boring, lengthy articles. It is crucial that your content is interesting, engaging, and also informative. People will only continue reading something if they learn something new. Specifically, if it is related to topics they want to know more about.
Online readers today have become increasingly aware of the spread of unresearched or simply untrue information online. Do not try to amaze readers and prospects into buying by making claims that are either untrue or dubious. If you do, you will soon get a bad reputation, which in the world of business could be the kiss of death. A prospect is a consumer who you believe could turn into a paying customer.
Your blogs, articles, and other content need to have information that you have researched carefully. Academic journals are the best sources for scientific studies. Quote their content, with hyperlinks to specific studies. Your reputation as a reliable and professional organization will improve considerably, which in turn will eventually boost visitors and sales.
Non Instagram Influencers
We often think that influencers are synonymous with Instagram, but they exist in many different media such as blogs.
Find an influencer who is not only popular, but also has a good understanding of CBD oil, its uses, applications, and the impact it has had on their lives as well as the lives of people that they know.
Having an authority such as this work with you can boost sales significantly. The key is to find the right influencer and one who can benefit from cooperating with you. Remember, there must be something in it for them.
About CBD
The letters CBD stand for Cannabidiol. CBD is one of many active ingredients in cannabis or marijuana.
CBD usage has increased significantly around the world because it has become legal in several major markets:
- Most US states have legalized CBD.
- In Canada, it is legal for therapeutic use (and recreational use since 2018).
- It is legal in the European Union if it is derived from an approved industrial hemp strain. In the UK, companies such as Blessed CBD are already getting praise and positive reviews from customers for offering a high-quality CBD oil (that was also voted the best CBD oil in the UK for 2020).
- In Australia, CBD is legal as long as it doesn’t contain over 2% of other cannabinoids such as Tetrahydrocannabinol.
The US Food and Drug Administration (FDA) approved the medication Epidiolex in 2018 for the treatment of two rare types of childhood epilepsy. Epidiolex contains CBD.
Scientific research
Until recently, very little scientific research had been carried out on the therapeutic benefits of CBD. Since consumer interest has grown, this has changed. There are several studies currently underway and many more planned for the near future.
As a result of these new studies, scientists believe there are likely to be new medical applications for the substance in the next few years.
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Interesting related article: “What is CBD?“