With the legalisation of CBD oil across many states in North America, it is no wonder that lots of people are setting up new businesses to take advantage of this potentially lucrative new market. From production, to retailing, entrepreneurs to marketing consultants, the CBD oil industry is a very attractive prospect if someone is looking to begin a new start-up, for many reasons. Firstly, there is a huge hype surrounding the subject of CBD oil and its benefits, it is currently all over social media and there is a huge potential customer base to work with, including people who have previously never used any other forms of cannabis products. There is the sad fact, however, that, because CBD oil has yet to be distinguished from cannabis products containing the psycho-active substance THC under federal law, it is currently not covered under health insurance plans. This means there are literally thousands upon thousands of people who are willing to pay to be able to take advantage of CBD oil’s medicinal effects. Also, because the industry is very new, there is the opportunity for those new businesses with imagination and drive, to stand out among the crowd.
On the flip-side, with the industry being so new and exciting, there is a lot of competition from other new start-ups and, there really isn’t much of an industry-standard to emulate. The only option is to model your new business on what has worked in other industries and try to adapt it to the CBD industry. Easier said than done when there is still so much stigma related to the product due to lack of education on the differences between CBD products and products containing THC. This is where a good CBD marketing consultant can make all the difference.
There are a couple of options you may want to consider when trying to find a CBD marketing consultant to suit your needs. You could employ the services of a marketing firm or opt for a freelance marketing consultant. Both options will offer different levels of service depending on your individual requirements, and always remember, when searching for one that fits with your business plan, a good marketing consultant will never take your money unless they are certain they can help you get your business where you want it to be.
A good CBD oil marketing consultant firm will be able to offer you a wide range of services to help you build your business from the ground up, not just promotion and advertising. They can guide you through the licencing and permit acquisition process, process planning all the way up to employee training and even how to attract potential investors. However, don’t expect miracles. Both firms and freelance marketing consultants can help you develop your business strategies and increase customer conversations, but if you do not have a solid foundation and a clear idea of where you want to take your business, they may not be able to help you reach your goals.
Marketing consultants take what you already have and show you how to maximise your return. Good marketing consultants are less interested in increasing your volume of traffic, be it, online or through the front door of your store, and more interested in customer conversion- converting the traffic you do have into sales. After-all what is the point in investing loads of money in advertising and SEO experts to bring people to your store, if none of them buy anything? A decent CBD oil marketing consultant will help you tailor your online marketing to target specific niche customers to greatly increase your chances of converting them into sales.
Another thing marketing consultants will look at is how you manage your time and, more specifically, how much time you spend on doing things that actually make you money. This tends to be a bigger problem in smaller business, where the CEO spends most of their time carrying out menial tasks that are best delegated to employees or out-sourced to freelancers instead of working on projects that will bring in future profits. A marketing consultant will not be looking at strategies to increase todays, tomorrows or even next month’s sales, they will be looking at the long-term effects they can implement today to make sure your business is thriving in 6 months, a year or even in 5 years’ time.
So, if you know where you want your CBD oil product business to be financially in 1-5 years, and you want to stand a chance against, or even get the advantage over your competitors, you should seriously look at employing the services of a decent CBD oil marketing consultant or consulting firm to make sure your business is performing at it’s best now and in the future.