CBD is a competitive market. Producers of cannabidiol products can use these expert tips to boost their sales. Did you know that Americans are going crazy about the therapeutic effects of CBD oil?
With a vast majority of Americans getting curious about the healing properties of CBD, numerous players are entering the market with innovative cannabidiol products. In fact, a recent news report shared that due to this mainstream hype, the segment is expected to grow by 700 percent by 2020.
Though cannabidiol is a non-psychoactive derivative of the cannabis plant, the federal court recently declined from protecting this compound. Yet, CBD products are available over the counter in pharmacies and dispensaries in states where marijuana is legal.
The growing acceptance of CBD is offering manufacturers unmatched opportunities for revenue generation; yet, the intense competition is making it tough for them to retain their market share.
Here are three tips that will help CBD manufacturers improve their sales.
Improving awareness about cannabidiol can help patients manage ailments, encouraging them to include it in their wellness program. For instance, if producers train their staff to educate customers about how the terpenes present in cannabidiol help alleviate anxiety symptoms, it will help the latter make well-informed purchase decisions.
A company’s sales team is at the frontline of the business; hence, they should be trained to represent the brand effectively. Though the market is flooded with thousands of CBD products, federal regulations prohibit manufacturers from making any health-related claims on the product packaging.
Thus, the lack of information on the label makes it tough for shoppers to know what to buy. Training staff to identify the symptoms of a disease and talk about the therapeutic effects of cannabidiol will enable them to educate patients about the products.
For instance, a patient of peripheral neuropathy often suffers from shooting nerve pain.
Here, the budtender can help the patient manage pain using CBD products and track his/her progress over time. Thus, the patient will be encouraged to adhere to the CBD regimen prescribed to him/her, thereby improving the product sales.
Strengthen Relationship with Budtenders and Retailers
Budtenders and retailers are often the first point of contact for cannabidiol consumers. Partnering with them and offering product samples and informative brochures can help manufacturers build a strong relationship with them, enabling them to boost their sales.
Customer service strategies that improve the retailers’ sales and reputation will prove to be effective for retailers who desire to build a long-term relationship with their patients. Thus, producers should think of how they can influence shoppers to return to the store. For instance, they can place loyalty coupons at dispensaries, thereby encouraging customers to make repeat purchases at the store.
Encourage Women to Become Brand Campaigners
Since cannabidiol offers amazing therapeutic benefits and is devoid of euphoric side-effects, women seem to be the ideal target for using these products. Statistics reveal, being well-read, health-conscious, and earning a high income, American women account for 93 percent of over-the-counter pharmaceutical purchases. This demography is more likely to influence the purchase decisions of their loved ones.
Companies should train their sales team, budtenders, and dispensaries to target women consumers, who can use and encourage others to incorporate CBD in their health plans. Additionally, the burgeoning market potential of cannabidiol is attracting aspiring female entrepreneurs to invest their resources in this domain. With the help of female-driven cannabis organizations and businesses, the representation of women in the American CBD domain is increasing.
Several canna-preneurs are already aiming at capturing a part of this emerging revenue stream. For instance, women are using cannabidiol to make their own beauty concoctions and bakery products, taking the CBD market by storm. Thus, manufacturers, cultivation facilities, and distilleries should partner with women to promote their CBD products.
The growing acceptance of CBD products is encouraging manufacturers to introduce innovative cannabidiol products. The tips shared in this article will help producers improve their profitability and market share. Do tell us your best practices for boosting the sales of your CBD oil-infused products.
Joy Smith is a speaker, mentor, entrepreneur, mother of four, and grandmother of six. After trying a number of poor quality CBD products, she teamed up with her family to develop an organically grown, full spectrum hemp oil to help people who suffer from a wide array of ailments. Visit Joy’s website to learn more https://joyorganics.com/