If you hopped on the CBD train with your tongue hanging out, following all the other little investors, it’s time to hop off with a unique hemp or alternative product before you’re thrown off headfirst into the cold hard dust.
If you’re lucky, your CBD company has been profitable and you’ve grown accustomed to a certain level of income. Maybe the pandemic caused a dip, and now you’re wondering when (if ever) it will recover. If you haven’t noticed, other CBD companies are coming out of the woodwork daily. The more that happens, the more likely you’ll be just another type of used car salesman with the same overpriced product as everyone else on Nickelback Street (wretched music reference intended). It’s time for CBD differentiation.
DIFFERENTIATE OR DIE
What on earth does your CBD company have to offer that other CBD companies don’t?
100% THC-Free CBD? Nope, that’s not a different product. It’s a common product attribute that isn’t enough to differentiate you from competitors.
CBD Gummies? Nope, these are so common they come over the counter in backwoods convenience stores in Tennessee at this point.
CBD Roll-Ons? Changing the application method won’t work to keep you in the game. You need to do more than just change the bottle or dispenser to keep up with the market.
The point is: “Any damn fool can put on a deal, but it takes genius, faith, and perseverance to create a brand.” — David Ogilvy
Having a clear point of difference is the key! We must be harsh, and your green bubble must be burst. Brainstorm, commune with Odin, or get so high on Sativa you’re conversing with blue gnomes. It is imperative that you have a meaningful brand experience, or your CBD products may wind up on the BOGO counter of your favorite tattoo shop.
CBD Differentiation is Key
But I have a great mission statement: But does it make you different? If it’s nothing more than a paint by numbers attempt to “connect with your audience”; then it is exactly the same thing every other CBD lemming company out there is touting
But I’ve made so much money (if you’re lucky): And? If this is your first business rodeo, you poor thing. If this is your third, you need to be smacked in the face, hard. Yes, you’re definitely making money during the CBD gold rush, but unless you do something smart during the rush, you’ll be left with a dirty horseless wagon in the middle of nowhere with expensive prostitutes fighting for drinking water.
The CBD “gold rush” is NOT how you get rich. If you’re on the train, it’s how you invest and build to eventually get rich. CBD differentiation is how you get on that train.
ALTERNATIVES TO BLUE SATIVA GNOMES
Brainstorming is a good start. The viable alternative is taking the time to understand what your current customers are actually looking for in a CBD company long-term. Give them something they’re looking for that they don’t even realize they want yet. Provide them something to associate your brand with, not just another hemp genie in a bottle company that doesn’t give a rat’s ass about the well-being of their customers (even if they pretend to). Building loyalty starts with being truly authentic, not, pretending to be authentic.
After all, CBD is a popular product even with the Mom & Pop crowd who don’t want THC in their system. Why? Because it falls into the natural healthcare industry, which is actually booming and will continue to boom as long as pharmaceutical companies are marketing prescription medications for diarrhea that cause liver cancer and PTSD pills that induce suicidal ideation.
CBD may be a panacea, but it also won’t stop people from buying cheaper Ashwagandha supplements for anxiety or Mahanarayan oil for muscle and joint pain relief, both of which are well-recognized healing products in Ayurveda, which is a growing area of the natural health industry.
In other words, do your research, provide alternatives to CBD or innovative CBD products that fit with the vision and branding of your company, and always listen to your customer.
For more CBD marketing info that isn’t afraid to punch you in the gut, contact us for CBD differentiation.