If you’re running a CBD business in 2022, chances are that you’re fighting through a huge wave of competition. Ever since the legalization of cannabis, marijuana, and scheduled drugs was sanctioned for recreational use, many entrepreneurs have chosen to leverage this change and monetize it into a business. There’s still a lot of room for growth as you will be able to grow and expand in this environment today. However, there are many measures you need to strategize upon since the CBD business is no longer unrefined and disguised. Many big names have started resorting to direct marketing tactics, getting great results. If you’re a brand interested in embarking on the same, here are five tips for you.
- Chart your target customers: The effectiveness of direct marketing strategies is higher when you know exactly who you’re selling to. Create an avatar of the ideal target audience and then profile the masses based on geography, demographics, and other preferences using filters. This does away with wasted efforts on people who were never interested in your products or industry.
- Create a feasible budget: Creating a realistic budget for direct marketing can leave your company in a fix regarding the amount you’re willing to spend to gain a better ROI. Even though all the marketing departments run on a tight budget, you’ll need to get the most out of it with smart selling.
- Boost selling to lapsed or existing customers: Most of the customers are happy to hear from familiar brands that have been in business with them. Use this opportunity to promote your sales to them directly with the help of offers, coupons, and discounts. It is also a great idea to reconnect with customers that didn’t stick with your brand to find out why they moved on.
- Double down on customer loyalty: Direct marketing emphasizes the need to have direct communication with the customers. When you bank on personalized communication, here lies a great opportunity for your brand to create loyalty due to your approach. Devise personal loyalty plans and programs to keep them appeased, for instance, birthday and anniversary greetings, special discounts, and membership perks. Sending them personalized suggestions for upcoming products, introductory discounts, and free samples are a few of the most popular methods of gaining customer loyalty.
- Take direct feedback through testing: One of the best places to test the audience’s reaction to your products and their benefits is by direct marketing. Reach out to all of your customers and reward them for taking up a short survey regarding the product, its effects benefits personally experienced, and how they rate it. If there is any feedback they provide, create a database to send your production team for quality control.
If you’ve tagged along with us so far, congratulations! You’re one step closer to your CBD business’ direct marketing strategy, which is a big deal. Make sure to use these pointers while formulating and executing your plans. We hope you have infinite success on your entrepreneurial journey!