Launching a CBD brand: How to get started
In an effort to make clear the factors that are most common to CBD businesses, we have created this article with top expert tips from Verum CBD that everybody should be aware of before going into the hemp business.
So without further ado, here are seven tips for succeeding at launching a CBD brand.
- Know the Laws and Regulations for CBD Businesses
This should be your first step when setting up a hemp business, because it will give you an idea of the legal framework that you can use to maximize profit to your business, as well as avoid being entangled in legal issues.
Pay attention to state laws as well as federal law, and hire an in-house attorney for managing the legal aspect of your business. It goes without saying, but you should minimize liability by taking up all the proper insurance packages for the business and your workers.
- Create a Strong Business Plan
This is much easier said than done. Also, a business plan might look good on paper but end up being unsustainable in the long term. For this reason, create a business plan that is flexible enough and represents only the latest trends and practices in the industry. This doesn’t always mean following what other players are doing, but sometimes a proven strategy is a safer bet than attempting to set up a unique business model.
- Build a Website
This is your company’s façade, and it’s basically what people use to judge your business, so make it count. A good website should be beautiful and easy to use, meaning the user interface should be designed for simplicity and elegance.
Things like mobile integration are important when targeting a market that is driven by millennials. Most people who visit your CBD website will do so from their mobile devices, so having mobile integration will allow you to reach a wider audience than what you might reach with desktop sites.
- Identify the Right Suppliers
Suppliers are essential to the smooth running of your business, and when there are delays or upsets in the supply chain, it can have a devastating impact your business. But apart from efficiency, another thing worth checking out is business practices and whether or not they use additional ingredients in the farming of hemp. There is such a sharp aversion to everything that’s considered synthetic chemical especially when used in production of “organic” products such as CBD. So avoid suppliers who work with unscrupulous farmers; and one way to identify them is with cheap products (usually lower than market standard).
- Establish Your Brand
Now, this is one area where a single approach might not suffice when establishing a new brand. For starters, you will find it easier to establish a new when you have a clear understanding of the brand itself and what it represents. Communicating this to your audience is the tricky bit.
People will likely support your brand only when they know and understand the history of your company, the driving force behind every product or service, and the many personal stories that go into creating the most popular products and services.
- Use social media to position yourself as an authority
Don’t be shy about making noise online. This is the only way to get noticed as a new brand. Worry about creating content that is good enough to get people talking, and basically figuring out how and where your audience hangs out online. If possible learn everything about your audience, so that you will have good time creating posts to attach to your products especially when doing a launch.
- Reach out to an Influencer
Nothing has the potential to make your product launch successful as having a brand influencer working with you, to basically market your company to new audiences. There’s no limit to how influential these people can be, so it helps to have an influencer who actually likes your brand and is familiar with your story and everything that makes your brand unique. Chances are, if they likely your company, their followers like it too (that’s what makes them Influencers!).
Don’t worry about having a perfect product launch; instead, try to make as much noise as you can, because at the end o the day, what matters is getting your business name in front of multiple audiences. It doesn’t matter how many cool CBD products you create if nobody knows about your company, so focus on generating public interest. And with the tools you have through social media, influencers, online postings, and paid ads, you will have many ways to position your business as a leader in a massive industry.