The Cannabis revolution is moving online and CBD brands that want to compete need to get ready. Even though Cannabis product ads are still restricted on major online ad platforms like Facebook, Instagram and Amazon, CBD brands are finding creative ways to successfully advertise online. More importantly, they are preparing for the giant tsunami of opportunity that is coming once the online CBD advertising floodgates are open.
From the Dispensary to the Digital Landscape
Long gone are the days when cannabis owners and operators rolled up to the back door of their buddy’s local dispensary (legit or not) and dropped off their product in exchange for a bunch of cash. New data predicts that theCBD market will reach $20 billion by 2024—and that’s billion, with a capital B.As the hemp/CBD/THC market continues to expand, brand owners and performance marketers will have to build real brand value as they are being forced to compete in the digital marketplace against much bigger brands.
Two Main Categories for CannabisBrands
With so many terms and acronyms—CBD, THC, hemp, cannabinoids, rubs, lotions, vapes and potions—it's hard to get a handle on the vast offering in the space. It basically breaks down into two main groups:
All Good Marketing Starts with aStrategy
Regardless of how ‘pure’ your product is, how it was grown, harvested and manufactured or, how miraculous the effects of using it can be, you still have to find ways to stand out in anever-expanding online sea of green. Cannabis marketers have to think out of the box as they compete against other cannabis brands and a broad array of products, and need to get even more creative on how they are going to differentiate themselves from the rest of the burgeoning brands making the digital transition to becoming an online retailer.
So, how do you get ready to rumble and compete against bigger, more well-established brands? It’s all about the data, bruh.
Building your CBD brand starts with getting really clear on what space you’re in and who your target customer is. Once you understand those two key elements, then you can start to compiledata-driven insights and build out your audience to take advantage of the online CBD revolution coming soon.