NEW YORK, NY / ACCESSWIRE / April 29, 2021 / Expected to be a multi-billion dollar market by 2025, the cannabidoil (CBD) industry is growing at a rapid pace of compound annual growth rate of 15%+ in the U.S.. From tincture drops to gummies and even honey sticks for your tea, CBD has been marketed to have a variety of therapeutic effects and methods of use since its legalization in all 50 U.S. States in the 2018 Farm Bill.
While hemp-derived CBD with less than 0.3% delta-9-tetrahydrocannabinol (THC) - the psychoactive ingredient in marijuana - is federally legal, marketing giants including Google and Facebook are still not allowing it to be promoted through their paid advertising platforms.
So, how can CBD brands reach their eager customers online without the help of these giants? Founder of SocialCow and CMO for CBD distributor and brand creator, Associated Hemp, Kristina Centnere shares her insights.
"Marketers are presented with an interesting challenge when it comes to promoting CBD products online. Whereas most of us rely on paid advertising to reach our ideal customers, in the case of CBD, we have to get creative and really focus on the foundation of the brand and organic opportunities to promote it."
Centnere shares that some of these opportunities include organic search engine optimization, influencer relations, email marketing, programmatic advertising, guest blogging, expos and direct sales to retail locations.
"It's important to note that as with any marketing, there is no silver bullet. Especially when you are barred from conventional paid advertising channels, it's important to run cohesive campaigns across multiple channels simultaneously to get your product in front of your target audience."
A strong proponent of foundational marketing, Centnere notes that marketing is best started before the brand is even fully conceptualized. While most marketers take a brand and do their best to promote what is, Centnere finds that especially in new, restricted industries like CBD, taking marketing into account as you are building the brand is key.
"Smaller companies often treat marketing as an afterthought, rather than building a brand around marketing. At Associated Hemp, we design brands with customer-first mindset and marketing as our guiding light to the creative."
When initializing a brand, Centnere and her team at SocialCow first identify ideal customers for each brand's concept, then deep-dive into their personalities, likes and behaviors. Once designs of the brand are built, SocialCow implements neuromarketing to identify which concepts their target audience resonates with most.
"A decade in [behavioral marketing] and we are still often surprised by the data we learn from neuromarketing tests. Unlike surveys, which have been deemed ineffective by the expert marketing community, the brain doesn't lie."
Neuromarketing is a new concept to the U.S. with Centnere and her team at SocialCow spearheading its use and development for small and medium-sized businesses. Using neuroscience for marketing insight, it is an effective technique of identifying emotional response to visuals as well as measuring gaze direction and intensity.
"We have most recently implemented neuromarketing testing for building a CBD beauty brand, which not only helped us decide on colors of the bottles, but to also verify our pricing estimates and that our concept stood out among competitors' products."
With ample competition and restricted methods of advertising, CBD brands need to be especially mindful of how their products are perceived. While neuromarketing significantly reduces guesswork when it comes to brand concepts and marketing visuals, it works best in conjunction with ongoing analysis.
"Once your brand is on the market, feedback analysis is your best friend. From neuroanalysis of website sessions to surveying our retailers, we bring the data together to see where puzzle pieces may be missing or fitting improperly. The marketing job is never ‘done'."