Navigating the changing CBD marketplace
Now that the cannabis industry is growing in the United States, it’s a good time to learn how to navigate the rapidly changing marketplace. CBD, or cannabidiol, is the second most common active ingredient in cannabis. Different from THC (the component that makes cartoons fun), CBD can help treat a variety of illnesses without the “high” feeling. Today, CBD is the most available form of marijuana in the United States, and all 50 states have some sort of regulated legal cannabidiol.
So what does this mean for marketers? Well, there are state by state changes that impact the market daily. To keep your business ahead of the growing competition, It’s a good idea to develop an action plan that puts you in front of your audience with information that’s transparent and easy to digest.
The CBD business is complicated and rapidly changing. So, how can you manage day-to-day operations and effectively market your CBD business? It’s cumbersome. But, that’s why we wrote this blog to give you some initial thoughts.
Own Your Own Marketplace
Brand positioning is everything. A website that accurately represents your brand can be the first introduction to potential new customers. Also, you’ll want a solid digital marketing and SEO strategy and the use of paid marketing channels like search, email, and social media, as part of the media mix.
It’s time to once again break out the hemp necklace you wore in high school. Hemp and hemp-related products are no longer considered a controlled substance, and no longer regulated by the DEA. Now, individual states and the FDA control the sale and distribution of hemp-based products.
What is Allowed?
All parts of the naturally occurring CBD products and naturally occurring hemp-food or supplement products are allowed to be marketed.
What Is Not Allowed
Anything that comes across as unnatural is prohibited by marketers. For example, marketers can’t promote CBD–infused edibles, vape products, or unsubstantiated therapeutic claims. So, even though CBD has been shown to help a variety of symptoms, you can’t claim your CBD infused product will help treat any ailment.
Do’s and Dont’s
Not a shock to anyone, but you can only market CBD products to people 18 years of age or older. And, for the time being, most social media sites, including Facebook and Instagram, have put a discretionary ban on the marketing of CBD products. So, instead, devise an SEO plan, email marketing strategy, influencer campaigns, and native marketing campaigns to engage potential audiences.
Marketing a highly regulated, continually changing industry can be tricky. But, it’s ultimately your responsibility as a marketer to adhere to regulations at the same time you grow in this exciting new industry. Let us know what you think. How else can you navigate the growing cannabis industry?
With experience in cannabis and other related industries, AdSavants understands the unique challenges associated with them. So, please feel free to reach out. We would greatly appreciate the opportunity to help your business navigate this exciting new industry.