10 Ways to Increase CBD Store Sales – An Online Guide
The skyrocketing demand for CBD products with the CBD market’s coinciding explosion over the past few years has been nothing short of spectacular. As CBD becomes more and more well known, and with the FDA’s likelihood of more favorable treatment, some estimates predict that CBD product sales will reach $6.9 billion in 2025.
These staggering expectations have brought a multitude of new CBD retailers into the market. So even though demand remains high for these products, the competition is becoming fierce. Thus, it is incumbent upon the CBD retailer to make sure that their marketing strategy keeps their store visible to the buying public with a constant eye on increasing sales. With that in mind, the following are ten ways to increase your CBD store sales.
1. Carry a Quality Product
To distinguish yourself from most of your competition, you first need to make sure your inventory is stocked with quality CBD products. Unfortunately, the rapid expansion of the CBD market has brought out many inferior products and outright scams to the marketplace. This has resulted in consumers becoming wary of what they are buying and better educating themselves to make sure they are getting what they purchase. These new consumers are demanding quality, dependable products for their hard-earned money. You want to stock your inventory with a line of products with the virtues most educated CBD consumers are now seeking.
Consumers Will Pay More for Healthier Options
According to Nielsen Data Group, in the past decade, consumers in the United States have experienced a shift in product preferences. Specifically, consumers are not only searching for healthier product options and higher quality but are also willing to pay more for a product that is advertised as being a healthier option. If you carry CBD brands that are organic, produced locally, and known to be of high-quality, use that information to your advantage. Educate your consumer. Show them how the products you select for your store are superior to those sold on Amazon or at other retailers. Ask your wholesale partners for information, booklets, flyers, or anything they can provide that you can pass on to your customers. This information will enrich the customer experience and will win you loyalty and higher sales.
CBD Products from Hemp Grown in the United States
Because of the high demand for hemp-based goods like CBD, many retailers are carrying products that are derived from hemp that is imported into the United States. 70% of the hemp used in making CBD products in the United States is imported from China.
The problem with imported hemp is that the country that grew the hemp may not adhere to the same strict farming standards by the United States Department of Agriculture (USDA). This is especially important because one of the characteristics of hemp is its ability to rejuvenate the soil it is grown in. Hemp is known to remove toxins and heavy metals from the soil, so much so that hemp fields were planted around the Chernobyl power plant after its infamous meltdown. Educated CBD consumers look for products derived from hemp grown in the United States because they are afraid of the possible toxins, heavy metals, and molds that may be found in imported hemp.
CBD Derived Using Scientifically Advanced Methods
There are many methods of extracting the oils from the hemp plant. The resulting extract contains CBD as well as the other cannabinoids, flavonoids, and terpenes. Most lesser quality CBD products use inferior methods like solvent or hydrocarbon extraction. These methods may leave residual extraction chemicals in the final product. Educated consumers look for CBD products where the CBD oils were extracted using scientifically advanced methods like Supercritical CO2 extraction. This method is more expensive than the other methods because the equipment is costly. However, the final product is completely free of any detergents or chemicals found in inferior products.
A Third Party Laboratory tests CBD Products.
Many of the CBD products that are on the market today make outlandish claims about their products. Because of this, consumers have become wary of these claims and concerned about what is actually in their purchase. Sure, the label may claim certain elements and brag about the product’s purity. Still, many educated consumers realize that the Food and Drug Administration (FDA) does not oversee the CBD industry for labeling accuracy. Besides, these same consumers may be concerned about other dangerous elements that might be in their product. This is why wise consumers look for CBD products that a third-party laboratory has tested. Well-received products have these test results available on their website so that their potential customers know they can compare the results to what is on the label. This ensures that they receive exactly the amount of CBD and other ingredients that they want, without any residual toxins or chemicals that they do not want.
2. Make Sure Your Website is SEO Friendly
Even if you have an active storefront, making your products available on the internet market will greatly increase your sales. However, the competition on the internet is just as fierce as the CBD market itself. To be competitive online, you must first make sure that your website is SEO-friendly.
If you are unfamiliar with the term, SEO stands for Search Engine Optimization. It determines how your site will rank whenever an internet user puts a search term into their browser. It is vitally important to have an SEO-friendly website so that your internet storefront appears on the first page of the search results. Rarely do internet users move toward the second or subsequent search result pages.
When investigating the best practices for ranking well in search queries, most studies look at Google’s suggestion because most search engines follow Google’s lead when it comes to web browsing. Therefore, the information we relay in this informative guide is based on Google’s best practices.
There are several different things that search engines like Google look for whenever they rank your website in the search results. Here’s a couple of things you can do to increase your rankings.
Check Your Site Speed
A slow website will rank low in search results, according to Google. This is because internet users are used to getting information quickly. If your website and pages do not display searched information promptly, the user is likely to “bounce” from your site and move on to a faster site. The rate at which users do this is what is known as a “bounce rate.” Established tests show that if the page’s loading speed increases by one to three seconds, the bounce rate increases by 32%. However, if the page’s loading speed increases by up to six seconds, the bounce rate increases 106%. Having a website that loads fast and whose subsequent pages are displayed just as fast will give you a better ranking.
Here are three great tools to use to check your site speed. We recommend using all 3 to get a good understanding of your site speed. Different tools will show different results, mainly due to the location of their server.
Another factor that Google looks at when determining to rank is if your website is mobile-friendly. Smartphones or other mobile devices do a large portion of internet browsing. As such, Google looks for sites that are easily displayed or mobile-ready and gives them a higher ranking.
Of course, unless you are well versed in SEO, it is advisable to enlist the help of an SEO expert who knows how to analyze your website and maximize it for optimal rankings. Many elements go into making sure that your website has all of the key components to rank well in SEO, and an experienced SEO web designer can help make sure your site has what it needs to rank well.
3. Refresh Your Content
Another thing that Google looks for when ranking websites in search results is sites that have fresh content. This is because Google wants its users to have the best experience possible, and sites that are constantly updating show the web browser that the company is putting time and effort into their content – thus giving the consumer a better experience. There are few ideal ways of keeping yourself fresh.
It is a great practice to update the pages on your website consistently. If you add or change products regularly, make sure you give plenty of information about the new product. If you don’t add inventory very often, update the product pages that you do have with additional information about the product or other helpful information about CBD in general. This assures Google that you are paying attention to your product pages and bringing more information and content to your website.
CBD Focused Blogs
Having a blog section for your website accomplishes two very important objectives. First, CBD-focused blogs add content to your site and, therefore, allow your site to rank higher in search results. The second objective is to drive potential consumers to your website. As we’ve discussed before, CBD consumers are consistently educating themselves on finding quality products and finding the answers they may have about CBD in general. By providing CBD-focused blogs, you give the consumers the answers and information they are looking for and driving them to your site. Of course, your blog may not achieve its goals if it only contains a few articles. Therefore, be sure to add a few blogs every month to keep the content fresh. If you find yourself stretched for time and unable to create these blogs, there are companies that you can find on the internet that specialize in blog and content writing for other companies.
OptinMonster found some powerful statistics on blogging. Here are our favorite ones:
- Companies who blog get 97% more links to their websites.
- Blogs have been rated as the 5th most trustworthy source for gathering online information.
- 36% of readers prefer list-based headlines.
Websites that also have a blog are shown to have 434% more indexed pages.
- 77% of internet users read blogs.
- Internet users in the US spend 3X more time on blogs than they do on email.
- 4% of bloggers say that updating content produces strong results.
- 72% of online marketers describe content creation as their most effective SEO tactic.
- Businesses that blog experience twice as much email traffic as businesses that don’t.
- Articles with images get 94% more views as opposed to those with no visuals.
- Video content is 50 times more likely to drive organic search traffic than plain text.
4. Develop a Strong Social Media Presence
Social media is a multi-billion-dollar-a-year industry for a reason, and having a presence on social media can make all the difference in your sales numbers. Set up a fan site for your storefront on social media platforms and regularly post on those sites. With a little research, you may find that certain platforms have more of an audience for your CBD products than others. Set up an account and then concentrate on posting to those platforms. This will allow you to engage with clients on a more personal level, answer questions or concerns, and use the power of social media to spread the word about your products.
- If your audience is Baby Boomers, make sure you are active on YouTube and Facebook
- If your audience is Generation X, you want to be present on Facebook, YouTube, and Instagram
- If your audience is Millennials, post actively on Instagram (stories and posts), as well as Facebook and YouTube.
- If your audience is Generation Z, add Tik Tok into the mix, along with Instagram and YouTube.
- Consider Pinterest if you like to post educational infographics and if you cook with CBD (some companies cook edibles in-house).
5. Use Lead Magnets
A lead magnet is a marketing tool where you offer something of value to a potential client in exchange for their email address. This could be something like a pamphlet, that a CBD user or potential user would find informative and helpful. You would advertise the free offer on social media or other platforms to attract users to the offer, allowing them to download the content in exchange for their email.
Another lead magnet that has been used effectively is to offer the user some sort of discount if they submit their email address. This could be just a percentage of their first purchase or an ongoing discount if they allow you to send them promotional emails. One way of making this available is by creating a pop-up offer while the user is on your website. Some companies make the offer as the user enters the site, while others have a delayed pop-up. Another way of making this offer is through different forms of advertising. Most social media and other outlets provide an easy way for you to market on their platforms and include a button that brings the user to a landing page that offers them the discount or promotional item if they submit their email.
6. Email Marketing
Email continues to be a viable source for reaching new customers and keeping your current customers informed. Nielsen reports that 28% of shoppers subscribe to store email lists to stay informed on new products and sales. Using lead magnets to build your email list, you can then utilize that list to offer discounts to your regular customers and keep your brand on their minds as you offer more information about your products. However, be sparing in the number of emails you send your clients. Too many emails from your company may cause your customers to consider your constant contact a spam nuisance and unsubscribe to your emails.
Always read the policy of an email software BEFORE purchasing a plan. Many email software programs do NOT allow for CBD emails. For example, as of 2021, MailChimp’s policy does not allow for CBD or any herbal supplement emails.
7. Use Affiliate Marketing
Affiliate Marketing is a great way to spread awareness of your CBD store and/or brand. According to SellBrite, “affiliate marketing lets you promote your product or service on websites other than your own. When leads see your content on these sites, click on them, and buy something, the affiliate — the site your content appears on — receives a small percentage of the sale.”
8. Utilize Influencers
Some of your loyal customers may have large networks of friends on social media platforms or a large following on their websites. You can utilize these influencers by creating affiliate marketing links from their sites. These links record the affiliate site’s referral activity, and many companies offer compensation to the affiliate for each referral that lands on their site through the affiliate link. By utilizing an affiliate marketing program with these influencers, you can use their popularity to spread the word about your products.
The two main goals for your influencer marketing campaign should be brand awareness (measured in impressions, shares, likes, comments), and direct response (clicks, sales, download, etc.). According to BigCommerce, engagement is by far the most common metric used for measuring influencer marketing success, measured by 75% of marketers for influencer marketing. To learn more about influencer marketing statistics in the U.S., click here.
9. Attend CBD Trade Shows
Word of mouth is still a powerful advertising tool. By attending CBD trade shows, you can not only get your product out in front of industry players, but you can also assess your competition. By interacting with others in your industry, you may learn about innovations in the CBD industry and find new ways to promote your products.
10. Utilize Other Marketing Venues
There is no shortage of opportunities to market your CBD products. Technology has brought us the internet, which provides opportunities to digitally advertise in ways that were not possible just a few decades ago. Here are a few additional suggestions to keep in mind and the possibilities we have already presented.
Your Store Front
We’ve talked extensively about electronic marketing in this guide, but let’s not forget about the importance of a physical store. If you have a brick-and-mortar store, make sure that its appearance is clean and inviting and that it has clear signage to get the attention of those passing by. CBD is a new industry, and many potential consumers have been turned off because they can find CBD products in gas stations and tattoo parlors. Giving the consumer a bright and inviting building to shop in gives credibility to your products and CBD in general. Make sure that as you are building your website’s contact page, you always invite consumers who are in the area to stop by and say “Hi.” This builds goodwill with your customers and gives you the ability to increase the customer’s intended purchase by personally offering additional suggestions.
Social Media Ads
Social media advertising can get you a lot of bang for your advertising dollars. Most of these provide helpful analytics so that you can readily see how successful an advertising campaign has been. Unfortunately, there are restrictions on many of these platforms.
On June 26, 2019, Facebook lifted its ban on the ability to advertise CBD products. One way of utilizing this advertising venue is to place an ad that links directly to a landing page that serves as a lead magnet. From there, the potential customer is directed to your website. These ads can be specifically targeted to certain demographics and interests. By monitoring the analytics available from Facebook, you can tweak your advertising to make it more effective.
Advertising on other media platforms such as Twitter and Instagram is currently not allowed. However, because of the changing face of the acceptance of CBD, these platforms are likely to follow Facebook’s lead in the future and allow you to advertise with them as well. In the meantime, these venues are still powerful social media platforms that you should still utilize to build your sales by engaging with your customers.
Amazon and Other Online Marketplaces
Amazon and other online marketplaces are an easy way to get your products in front of consumers looking to purchase CBD products. However, these sites are extremely competitive. The good news is you can increase your product’s visibility by placing sponsored ads on these sites. They also provide informative analytics to make sure that your advertising dollar is being well spent.
Get Started Today!
A good sales strategy is to invest in advertising across different mediums and monitor those campaigns’ results. Once you have determined the most effective venues, concentrate your advertising dollars where they provide the greatest return. Utilizing the suggestions we have made will take time and dedication. Still, it will benefit your company in the long run by increasing customer awareness of your brand and increasing sales for your CBD business.