The UK CBD market is going to be worth almost £1 billion each year from 2025 onwards – what are you doing to seize part of that growth?
CBD is one of the UK’s most exciting wellness product categories and new products continue to hit the shelves each week. There are lots of reasons that customers continue to turn to CBD in growing numbers.
Finding a space for your product within this nascent industry is no easy task, though. You’ve got to develop a stellar product and execute on a flawless strategy if you’re going to succeed and build a strong reputation.
Christmas is a key spending period in the UK. Did you know that around 91% of British people celebrate Christmas and spend almost £600 each year? Here’s a closer look at how you can make your CBD product a success this Christmas.
Why Christmas is a great opportunity for your CBD product
Christmas is a wonderful time of the year and people often put a lot of thought into the gifts that they buy for their friends and loved ones. Here’s a look at why this Christmas in particular is going to be such an excellent opportunity for your CBD product:
A growing CBD market
The CBD market is growing at an impressive pace. Over 300,000 people in the UK use CBD oil each day, for instance, and that number continues to climb.
This popularity also means that CBD awareness is at an all-time high, too, and we predict that CBD is going to be a very popular gift this Christmas season. The holiday period marks the perfect time to try something new and to give an interesting gift – this could be an excellent opportunity if your CBD product is up to scratch.
People love new experiences
We all know how difficult it can be to find that perfect Christmas gift. Lots of people want to find something unique for a loved one that’s related to their relationship.
CBD ticks both of those boxes. It’s a very unique option and it can also be a very thoughtful gift. Let’s imagine, for instance, that a son knows his father has been struggling with back pain – the son might give CBD oil as a thoughtful gift.
There are lots of reasons that people take CBD. The diversity in terms of the rationale for purchasing CBD means that your product could potentially fly off the shelves this Christmas.
It makes a personal gift
Christmas is an emotional time for many people, and it’s a great opportunity for people to show that they care about a loved one. CBD makes a great gift because it offers such a personal touch – people can really show that they care about others with this gift.
There are a range of products
CBD is going to be very popular this Christmas season because of the variety of CBD products out there. The popularity of CBD means that there are more CBD products available than ever before, and that variety means more people will be looking out for appropriate CBD products.
CBD bath bombs are the perfect gift for a person that adores wellness, for instance, while a CBD cream can make a great gift option for a person that suffers from sensitive skin.
The conditions are right
We believe that there are nine key signs CBD is flourishing in Q4 2019. More payment processors are embracing CBD, for instance, and medical research is coming on in leaps and bounds.
High-profile endorsements of CBD (from the likes of The Arthritis Foundation) are also helping to elevate the profile of the cannabinoid. Celebrity endorsements are also a key factor that will drive demand this holiday season.
How to make your CBD product a success this year
Are you ready to capitalise on these perfect set of conditions to make your CBD product a success this Christmas? Here’s a look at some of the key strategies and techniques that you should leverage to make your CBD product popular with your customers:
Understand your shoppers
First things first, it’s important that you build a clear understanding of your shoppers and the type of people who are going to be looking for your products – the more accurately you understand them, the easier you’ll find it to cater your messaging and offers to them.
Here are just a couple of examples of CBD shoppers you might want to target this Christmas season:
This person might have heard about CBD in the news and they’re now curious about whether or not it could make a great gift idea.
These people will have a range of different gift recipients in mind. You might find that some customers are a husband/wife looking for something special for their partner, for instance, or a son or daughter looking to buy a soothing CBD product for their parents.
You should take the time to educate these shoppers and really understand what they’re hoping to achieve. They’ll appreciate the guidance and it’s a great opportunity for you to recommend your products and explain how they can help.
This customer might already use CBD on a regular basis and they’re looking to introduce a friend or loved one with a CBD gift. You’ll want to make sure that you can impress with your knowledge and product.
You might find that you don’t have to focus so much on the technical details with these customers, given that they’ll already have an idea of what they’re looking for and how CBD works.
Offer an introductory discount
Are you confident in the quality of your product? Do you just know that people love to use it and that you’re going to get repeat custom? If that’s the case, you might want to try offering an introductory discount.
This discount can help you to differentiate yourself from the competition and it will also attract your potential customers. While it might make a little dent in your bottom line, you can rest assured that some of those potential customers will come back once your product has impressed.
Try to fashion an attractive offer that still makes sense for your business: you might want to experiment by offering different types of discounts, for instance, and then decide which one works the best based on your test results.
We believe that a small percentage discount is often the most attractive to new customers. Lots of potential CBD customers are often nervous about purchasing a product, and this can help to reduce their perceived sense of risk.
Prepare your product
It’s also very important that you have your product in the best condition possible. If you have any pending changes or alterations, try to make sure that they are made in time for the Christmas period.
You might find that you attract a number of customers during the holiday period, and that they’re new to the CBD world. This is a fantastic opportunity for you to attract a set of new, loyal customers to your business.
Make sure that every aspect of your product is perfect. Think about everything from its efficacy and composition, for instance, to the packaging and small details. It’s only natural that everybody wants to impress with their Christmas gift – make sure that your product is up to the high standards of your customers.
Build your mailing list
A mailing list is still an incredibly powerful tool in the world of digital marketing. You should make sure to use the holiday season as an opportunity to engage with new customers and collect their contact information – you can then use this information to connect in the future.
You might want to offer your customers free informational guides, for instance, in exchange for their contact information. Use landing pages and advertising effectively to maximise your reach and the number of customers you can contact in the new year.
If your CBD product is a hit at Christmas, you can rest assured that your customers will want to come back! The person who bought the gift (or even the recipient!) might come back to your store and become a new customer for life. You want to maintain contact as much as possible with those new CBD lovers.
Master online sales
If you sell your products online, you’ve simply got to make sure that your sales process is as lean and efficient as possible. There are lots of competitors out there who offer fabulous experiences – if you introduce even the slightest bit of confusion or friction into the sales process, your customers will go elsewhere.
You should make sure to regularly assess the state of your online sales process. Regularly ask customers about their experience shopping with you and even run tests with friends or colleagues – see where any issues occur and fix them as soon as possible.
The Christmas period is undoubtedly stressful and people shopping online want to know that their product is going to be with them in time. This is why you should develop your post-purchase communication to make sure that it’s informative and timely.
If you can give your customers a pleasant online shopping experience over the holidays, you can rest assured that they’ll remember the experience and come back to you in the future.
Master your marketing
There are countless companies in the UK offering CBD products. The majority of your potential customers are going to perform their research online, so you’ve got to make sure that your brand appears in all the right places.
You’ll want to focus on maximising the quality and accuracy of your marketing in two key areas:
First things first, you’ve got to make sure that you have the appropriate messaging ready. You should create a suite of CBD ads and marketing collaterals that are appropriate for the Christmas period.
It’s naturally very important that those ads and marketing collaterals are consistent with your brand to elevate the status of your products, and you’ve also got to make sure that they standout from the competition.
Now that you have some fantastic collaterals, you’ve got to make sure that your marketing collaterals actually make it to your customer. You’ll need to revisit your digital advertising strategy to make sure that all of your parameters are correct and that your ads are performing as expected.
Over the Christmas period, you might want to think about investing more into your advertising spend to attract the customers that are already looking for high-quality CBD products.
As we all know, digital advertising is a delicate balancing act. You’ve got to strike that perfect ROI if you’re going to guarantee profitability.
Educate your staff
If you’re going to sell lots of your CBD product this Christmas, it’s important that your staff are out there on the front lines doing a great job.
Before you experience the Christmas rush, make sure to speak with your team and educate them about your products. You might want to host training sessions, for instance, and explain some of the typical questions they might hear.
Lots of people are going to be curious about CBD and exactly what it can offer – make sure that your salespeople are capable of educating and captivating your potential customers.
Read this piece to get a closer look at how to help your customers shopping for CBD.
Source Your Materials from CBD Capital
One of the most important factors that will determine the success of your CBD product is the quality of the wholesale CBD that you use.
If you use poor-quality wholesale CBD, you’ll find that your CBD product won’t ever get off the ground because it will fail to win over your customers. If you use the best in the business, though, the reputation of your CBD product will quickly grow.
If you want the very best wholesale CBD, you should shop with CBD Capital. We provide the best isolate in the world so that you can delight your customers. Our global approach sets us apart from the competition – we source high-quality hemp from around the world and use the finest extraction techniques.
Learn more about our products today to make your product a success.