The cannabis industry is still highly regulated despite the legalization of CBD and hemp products at the federal and state levels. Additionally, difficulty getting insurance coverage and dismal results with online advertising constitutes a major obstacle to growth and profitability in this high-risk vertical. If you own a CBD facility or dispensary, you have to do things differently to succeed. Here is where influencer marketing comes in!
A direct approach can help endear your brand to customers. By addressing and engaging consumers directly, you can easily turn them into your biggest fans. Start by learning about the interests of your customers and what drives them. Then, you use this knowledge to identify and bring onboard the right personalities to rally fans around your brand.
Identify the right personalities to associate with and create brand awareness for the long haul. A big celebrity, such as an athlete, is a practical option. It doesn't matter much if they can't persuade people to buy your product right away. Sustainable brand growth is what you're after here. Leverage commercials, social media posts, or even photoshoots with the celebrity to get a massive brand lift. Once people get to know about your products, you can target them with other marketing strategies to drive sales.
Your influencer strategy should include a short-term sales component for positive day-to-day outcomes. For this, you need a different type of influencer. Somebody who's not necessarily big out there, but they can deliver engagement and results right away. This type of influencer may not have a massive social media following, but they have a solid sway over their followers' opinions and decisions. They can get them to love and prefer your product to alternatives on the market. This should be your influencer strategy to drive CBD sales day-to-day.
Affiliates aren't influencers per se, but they have an audience you can leverage to grow sales. They have a website with content that's relevant to your target consumers. Major digital publications can also be useful in this aspect of your digital marketing. Your affiliates should be providing relevant content that focuses on your products or brand. This increases the chances of driving relevant traffic to your website. You only pay them for the visits they bring to your online store, so this can be a high ROI strategy.
Brand ambassadors may not have a massive following, but their word-of-mouth power is worth the investment. They love your products and are your most loyal customers. Their value comes from talking about your CBD products and recommending those to friends, family, and workmates.
With influencer marketing, you get brand exposure, but there are no guarantees. Since you're paying for this exposure, you should ensure you're getting the most out of it. That requires measuring the engagement rate. An influencer may have a huge following, but if they're inactive, there's little value in accessing that audience. Important metrics for this include clicking and actively engaging with the influencer. Look at the numbers when the personality posts about your brand on Instagram.
You can incorporate these influencer marketing strategies to connect better with consumers and grow your brand as a CBD/hemp producer, distributor, or retailer. At GrayStone Insurance Group, we're ready to help you address another CBD industry problem—difficult-to-cover risks! Contact us today or give us call us at 866-988-3709 for custom hemp insurance coverage.