CBD is currently more popular than ever before. Google Trends data for the UK shows that the cannabinoid is eclipsing other wellness products. Are you going to try and capitalise on this popularity and launch your own CBD product?
There’s a lot of potential for growth and you could create a product that makes a difference in the lives of lots of people. The CBD industry is experiencing explosive growth, though, so there’s a lot of competition.
If you’re going to be successful and delight your customers with a fantastic product, you’ve got to have a solid product creation and launch strategy.
How to launch a CBD product and seize success
Here’s a closer look at a sample outline to help you coordinate a successful CBD product launch. We are going to provide additional resources along the way that can help you to dig deeper into each area.
If you have any questions about a step, please feel free to let us know. It will be our pleasure to offer our expert insight and knowledge to help you make the right choice at every turn
Research the CBD landscape
First things first, you’ve got to make sure that you have a good understanding of the CBD landscape. The nascent CBD industry is moving quickly – you’ve got to keep up with the pace to make sure that you don’t put a foot wrong.
You’ll want to make sure that you stay updated in the following areas:
Your customers are incredibly excited about CBD for lots of reasons. Their excitement and enthusiasm is paralleled by the research community, which is pumping out promising research on a regular basis.
Lots of hard-working researchers are exploring how CBD can interact with the human endocannabinoid system to treat a range of ailments. You should make sure that you stay updated on the latest news and research. This will help you to understand the potential of your products and how to communicate those in your marketing.
The CBD landscape is still difficult to read. The buzz around CBD means that governments and regulatory bodies are hard at work trying to put together rules and regulations to keep customers safe.
It’s important that you stay updated on the latest regulations. This will help you to make sure your products are above board from a legal perspective and that you won’t be blindsided by any sudden regulatory changes.
There is a lot of vitality within the world of CBD. Customers are still discovering which products and forms of CBD they prefer, so you’ve got to keep a finger on the pulse of public opinion.
You should carefully monitor CBD trends so that you can shape your products and strategy to match the expectations of your customers. If you regularly monitor the news, you’ll have no problems understanding the latest CBD developments.
Read this piece if you are looking for a quick overview of the global CBD landscape. You should also make sure to subscribe to our blog where we post the latest news and updates to help you stay informed.
Think from the perspective of your customer
If your fresh CBD product is going to be a success, you’ve got to think about your customers at every step of the way. The best way to do this is to think from their perspective from the very beginning.
You’ll need to understand the perspective of your customers in three key areas:
Understand why they want to use CBD
There are lots of reasons that people decide to take CBD. Some people use CBD to tackle anxiety, while others might use it to help them on their weight loss journey.
You will find it easier to create a desirable product if you understand those motivations from the beginning. Think about the target audience that you’re going for and then use their motivations to shape your product.
Identify their priorities
Your customers assess potential CBD purchases using a range of criteria. They will want to understand how effective a product is, for instance, as well as the overall quality of the product and the price.
You should try to identify the priorities of your target customer. This can help you to make key decisions like whether or not it makes sense to create a premium or more cost-effective product.
Dive deeper into what they think about CBD
What does your target customer think about CBD? Let’s imagine that you are creating a CBD ointment to help elderly people suffering from arthritis – you will want to answer questions like:
- Will they be sceptical about CBD?
- Why might they avoid trying CBD?
- Have they tried CBD already?
If you understand these questions, you will be better able to understand your customers. This means that you will be able to create a product that is catered towards them and that your marketing will be more effective and authentic.
Read our piece on what your customers want from CBD to dig deeper.
Create a mission for your product
We all know how important it is to have a purpose in the world of business. A strong mission can help us to work with intent and never lose sight of our goals and our values. This is the same for products, too.
You should try to create a strong mission for your CBD products. Try to encapsulate everything that you want your product to achieve and stand for in one sentence. Here’s an example:
“My CBD balm is going to become the UK’s most effective natural pain reliever – at the best price – for arthritis in people over 60.”
This product mission statement should encapsulate all of the conclusions that you draw from the previous step. The statement will act as your guiding light and you can refer back to it while you complete the next steps.
Handle the logistics and creation
Now that you have a strategy in place, it’s time for you to dig into the logistics and the actual creation of your product. Naturally, there is no one-size-fits-all process during this stage and it will vary according to a range of factors.
Here’s a closer look at some of the key points that you will want to hit during this exciting phase of development, though:
Find quality CDB
Research has shown that customers are most interested in efficacy when they purchase a CBD product. This is the ultimate priority for them, so you’ve simply got to provide a product that helps them to get the results they need.
The CBD in your product is going to be the star of the show, so it’s critical that you source high-quality CBD. You should do lots of research to find a provider you can trust. It’s critical that your providers are able to give you information about where their products come from and how they coordinate the extraction process.
Purchase your CBD from trusted sources
It is very important that you work with a CBD provider you can trust because the slightest misstep could cause you to sell an illegal product – a bad position to be in.
Pay close attention to customer reviews and the reputation of your provider. Make sure to carefully investigate their offering and do everything that you can to source quality wholesale CBD.
You can’t afford to leave anything to chance when it comes to the creation of your CBD product. You need to make sure you have a complete handle on the manufacturing process so that you can achieve perfect quality control.
If you have a complete insight into the process, you can rest assured that no foreign materials are going to enter your product and have a negative impact on its capacity to delight your customers.
Create your promotional content
Once you have created a viable product, it’s time for you to think about how you’re going to get the word out to your customers. This means creating amazing promotional content.
Here’s a brief overview of the steps that you’ll want to follow to give your new CBD product the best chance of success.
Communicate the benefits of your CBD products
You’ve got to make sure that you communicate the benefits of your CBD product whenever possible. The CBD industry is still growing, so you’ve still got a responsibility to educate your customers and explain your products to them.
If you focus on communicating the benefits of your products, you’ll also find it easier to create messaging that resonates with your customers. With that said, it’s critical that you communicate the benefits of your products accurately and without any exaggeration.
For more information, read this piece on how to communicate the benefits of a CBD product.
Explore all marketing channels
It’s very important that you do your best to explore all of the potential marketing channels out there. You should use the research that you performed earlier in the process to identify where you can reach your target customers.
There are lots of marketing tutorials out there that can help you to identify the best practice you should follow. If you are not confident when it comes to creating your own marketing materials, you might want to try and collaborate with an experienced marketing agency.
If you want to get the best marketing results, you’ll want to make sure that you collaborate with an agency that has experience in the CBD industry. They should be able to evidence their previous work and share their results with you.
Educate your team members and offer great support
Now that your product is set and you have developed your messaging, it’s time to educate your team members. You should make sure they understand this exciting new product and what it can do for your customers.
You might want to run a training workshop and even let your employees try samples of the product. This will help to really make them experts when it comes to CBD – this will help them to communicate more authentically and confidently with your potential customers.
There’s a good chance that you will find your customers are hesitant to try CBD. If that’s the case, it’s important that you can provide them with reliable and effective customer support. You should make sure that your customer support is unparalleled.
For more information, read this piece on how to help your customers shopping for CBD.
Enjoy the big day
Now that everything is in place, it’s time to think about the big day and prepare for your launch. Whether you’re doing a physical or a digital launch, you’ll want to capitalise on this opportunity to create some excitement and enthusiasm around your product.
You could offer a special introductory deal to your first 10 customers, for instance, or create some other offers to generate some buzz. It is critical that you acquire your first customers because lots of CBD purchases are made due to word of mouth recommendations.
If you can secure your first group of product ambassadors right away, you’ll be sure to see impressive results in terms of growth.
Collect customer feedback
The very moment that you product hits the market, you’ve got to start listening to customer feedback. The CBD industry is very young and your product will be fresh – you’ve got to listen out for any golden piece of feedback that can help you to adjust your strategy and move quicker than your competitors.
It’s important that you create the infrastructure around your customer feedback process. You should make it easy for your customers to get in touch with you and you’ll also need to have a plan when it comes to using that feedback.
For more information, read this piece on how to collect customer feedback on your CBD product.
Build the reputation of your CBD product
By now, you should have a great product on the market. You should constantly monitor the CBD industry and customer feedback to make sure that you make the small adjustments that will keep your product in pole position.
If you’re going to increase your sales, you’ve got to work on building a great reputation for your CBD product. In a nascent industry, reputation is everything and you’ve got to try and carve out a strong one.
This is easier said than done, though, and you’ll have to work very hard to seize success. You’ll need to make sure that your product is effective and that it also looks the part, for starters.
Read this piece for a closer look at how to build the reputation of your CBD product.
Source Your Materials from CBD Capital
The wholesale CBD that you use has the potential to make or break your product – you can’t leave it up to chance. Be sure to get in touch with us today to discuss how we can provide you with the best-quality CBD on the market.