Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Despite the Coronavirus/Covid-19 Pandemic/Crisis, there is still and demand for CBD (Cannabidiol) products. The following contributed post is entitled, Tailoring Your CBD Sales For Success Through COVID-19.
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CBD sales have increased across the world in recent years, with 14% of Americans now regularly using these products. Yet, even CBD sales have taken a hit in recent weeks as COVID-19 changes lives, buying habits, and priorities.
Given that this is the first real hurdle for the CBD industry since legalization, it’s natural to feel some worry over what this means long-term. At this stage, after all, the market is still green, and there’s no true way of knowing how loyal existing customers will prove once the pandemic has passed.
Luckily, as is evidenced by current front-runners like CBD Unlimited Inc., the CBD industry does stand more chance than many of weathering this storm and even enjoying boosts. That said, losses elsewhere prove that only companies who continue to put one foot in front of the other will enjoy these benefits.
With that in mind, you need to look forward and keep fighting. And, we’ve got a few of the ways you can do that for success both now and once lockdowns lift.
Perfect your online presence
Given that 70% of CBD sales take place online, the chances are that you already have an ecommerce shop. But, if you’ve primarily focused on your in-person dispensary until now, your basic online efforts won’t be enough to keep you afloat. Instead, now is the ideal time to turn to a CBD marketing agency. Not only will they be able to get your web design just right, but they’ll also be on hand to ensure that you forever adhere to local legislation, and appeal to the right people. As simple as that, you’ll be in the best position to begin flourishing in this lockdown landscape. Even better, you’ll be able to go head-to-head with your largest online competitors once all this is over.
Highlight benefits with COVID-19 in mind
While CBD sadly doesn’t cure COVID-19, it can at least address some of the issues/symptoms that relate to this pandemic on a broader scale. By changing your sales narrative to account for this, you may find that even consumers who haven’t considered use before test out your products. That’s invaluable at a time when few companies are even considering acquisition, and it could see you at the market forefront at last. Luckily, there are plenty of benefits that you can highlight in this sense. For instance, CBD has suspected anti-viral properties, as well as helping to ease potential infection complaints like nausea and fatigue. Not to mention that, outside of the virus itself, CBD can work wonders for reducing the anxiety that we all undoubtedly feel right now.
Expand your expertise
Now is also the ideal time to focus on areas of your business that allow you to expand. For instance, you could enhance your sales for the moment by focusing on things like ‘anxiety packs,’ or even just expanding your range to incorporate items like massage oils and bath bombs to tune into that consumer need. Equally, you could follow in the steps of CBD companies like Beam, who are expanding awareness for their brand using free Instagram live workouts/meditations. Honestly, the more innovative you are, the better chance that you’ll be able to achieve the sales you need. So, have fun with throwing some ideas around, and test them out to see which best capture your audience’s new concerns.
A post shared by beam (@beam) on Apr 21, 2020 at 1:56pm PDT
Show your support to healthcare workers
Now is also the time to show your support for our much-needed health care workers. Public awareness has shifted very much towards provider support as doctors and nurses put themselves on the front line. As such, CBD companies like Beam have also decided to offer up to 50% discounts for all medical professionals, with a further 10% of their net profits going to Greater Boston Food Bank. This effort greatly helps the community, but it also highlights your company ethics in a way that few people could argue against. While you should, of course, do such things out of kindness and nothing more, that’s certainly not going to harm your sales along the way.
A final word
This is a hard time for every industry and, despite being medicinal, CBD is no exception. The fact is that consumers are distracted, and ultimately buying less due to loss of income, etc. But, as some of the best CBD businesses on the market right now are proving, that doesn’t mean you can’t still expand and grow during lockdown. Simply start by implementing these tips and feeling their benefits.
