The popularity of CBD has grown among Millennials (31% of CBD consumers), according to Statista. With this market growth, are you also planning to start your CBD business online? Well, this blog will help you play well with profits. Growing a CBD business isn’t solely about selling products; it’s about building relationships with your customers and encouraging them to become lifelong customers. CBD sales are growing by 55% annually, which means there is a vast potential for CBD business opportunities in the coming years. See the BigCommerce data below.
Research is still in its early stages to uncover the full potential of CBD products; however, many people have personally experienced the benefits of CBD products and are willing to vouch for them over prescription drugs. The CBD industry is growing at a rapid rate. There is a vast demand for CBD-based products, and merchants are marketing & selling CBD products in every major state in the United States and 40 countries worldwide.
Like any industry, the CBD industry is transitioning to eCommerce or selling online. Competition is tough, but with the right CBD ecommerce strategy, your cannabis brand can stand out fast. Read this blog till the end to understand what CBD ecommerce tips to follow and what not to avoid.
What is CBD or Cannabidiol?
Cannabidiol, or CBD, is one of the active cannabinoids found in the sativa plant. CBD interacts with your body’s endocannabinoid system, which helps keep your body in balance.
CBD is not likely to produce a high like THC, but its popularity is based on its potential health advantages. While research is still in the early stages, preliminary studies indicate that CBD may have the following benefits:
> Better sleep Alleviate
> ALS symptoms
> Relieve unmanageable pain
> Ease diabetic complications
> Protect against neurological disease
> Treat select epilepsy syndromes
> Reduce PTSD symptoms
> Intervention for certain types of addiction
The Food and Drug Administration (FDA) recognizes the potential benefits of CBD, but the agency quickly notes that more research is needed. At this time, there’s only one FDA-approved prescription CBD medication. It’s for the treatment of a severe form of epilepsy.
Types of CBD
CBD products are available in three forms:
Full-spectrum CBD: This type retains all the cannabis plant’s components, including a small amount of THC. While federally legal full-spectrum CBD products will always have less than 0.3% THC, it’s essential to know that THC is still present in full-spectrum products.
Broad-spectrum CBD: This version has all the components of the cannabis plant. Broad-spectrum CBD may contain a trace quantity of THC.
CBD isolate: This form is pure CBD, with no other compounds from the cannabis plant. Even if you choose a broad-spectrum CBD or CBD isolate, there’s still a chance it could contain trace amounts of THC, which could show up on a drug test.
How To Start A CBD Business Online– 11 Must-Follow Tips
Starting an online business based on CBD/cannabis will entail the following actions:
— Know your US state laws
Understanding laws is the first and most important before considering selling CBD online. The US laws governing CBD are constantly in flux. Legality varies from state to state & whether the CBD you sell is weed-marijuana derived or hemp-derived. Most e-commerce platforms will let you build shipping restrictions regarding areas for individual products in your store.
Must Read Blog: Best US States to Open a Dispensary in 2023
— Refine your CBD business idea
If you’re considering starting a business or selling CBD online, quickly search for top existing cannabis companies in your industry. Analyze & learn what current brand leaders are doing and determine how to do it better.
— Narrow your CBD product offerings
What type of CBD product will you sell? You can sell more than one type of CBD product, but a clear understanding of your offerings will help you prepare & execute a marketing plan. Your CBD online business needs an extensive marketing plan to coordinate with the campaigns and properly measure their impact.
— Clarify your target customers
People jump into launching their business without thinking about who their brand’s customers are and why those customers would want to buy from them. Identify & focus on your “why,” your target customers, and your business name to refine your business idea thoroughly.
— Research the CBD landscape
Monitor local and state legislative issues about CBD. Researching your target customers is also a good idea to inform your marketing efforts. For example, will you target athletes with muscle pain or pet owners who want to help calm their animals? Consult an SEO Agency for Hemp Store to determine how your business should respond to applicable legislation.
Recommended Blog: Hemp Extract vs CBD: Key Differences, Benefits & More
— Obtain all necessary permits & registration
Obtain one before opening if you need a special business license to sell CBD products in your state. This step is separate from registering your business’s legal structure (LLC, partnership, sole proprietorship, corporation, cooperative, etc.), which you’ll also need to do for business tax purposes.
— Target non-competitive keywords
Non-competitive CBD SEO keywords can outrank with little to no link-building efforts & domain authority. Long-tail keywords generally have low search volume & density but are very specific. This allows you to target highly relevant topics to your target audience. Implementing them within your CBD content writing: These keywords can increase traffic and help you rank easily.
— Choose your external vendors
You may or may not make products in-house. But unless you’re growing everything, you’ll need a wholesale supplier for your CBD. You’ll also need a payment processor and other vendors a traditional business may need.
Recommended Blog: How 420-Friendly Banks Support Cannabis Businesses
— Selecting the right ecommerce platform
Selecting the appropriate platform for your online store is a critical step. It will decide what products you can offer, how to accept payments, and what shipping options you can use. Some platforms won’t allow you to sell CBD products, so research before investing time and money in setting up your store.
Shopify, WooCommerce & BigCommerce are well-known platforms allowing CBD product sales. They provide a complete guide on CBD and Hemp that outlines the restrictions & gives helpful tips on setting up your store. Try them & get started, or get the proper assistance from hemp SEO agency experts now.
— Optimizing your brand website thoroughly
Website speed & response can significantly impact the user experience and website conversions. Note, in the absence of a regular technical SEO audit, your website will not show up in the SERPs, no matter how much effort you put into its SEO on-page and SEO off-page. Get help from a top Cannabis SEO agency to make your online presence effective.
— Finalize & improve your business plan
Just like any other new business, you must finalize the details. Determining your prices, confirming the logistics of shipping online products, and drafting an initial marketing strategy are essential steps before you can officially launch. Lastly, improving your CBD ecommerce efforts will help you reach a new level of brand success.
Over To You
CBD products are here to stay, and the industry will only grow. By understanding the legal limitations and marketing strategy, you can get ahead of the competition & start selling CBD products successfully. Crafting a cannabis CBD campaign takes time and effort to develop. If you don’t have the time to dedicate to building your CBD SEO plan, CBDHempLive can help. Ready to make a result-driven CBD ecommerce brand? Contact us online or call us today at +1 650 262 7333 to speak with a strategist about our weed/dispensary SEO services!
Frequently Asked Question
Is it legal to sell CBD products online?
The legality of selling CBD online varies from area to area. It’s essential to do your research and ensure you’re following local, state, and federal regulations regarding CBD sales.
What are the essential steps to start an online CBD store?
Starting a CBD online store involves choosing a niche, sourcing quality products, setting up a website, and creating a marketing strategy.
Where can I source reliable CBD products for my online store?
CBD products can be purchased from various suppliers, manufacturers, or distributors. Make sure they offer lab-tested, quality products.
What e-commerce platforms are suitable for selling CBD products?
Ecommerce platforms like WooCommerce, Shopify, and BigCommerce are renowned for selling CBD online due to their flexibility and integration options.
How can I build trust with my CBD customers online?
Building trust involves transparent product information, customer reviews, third-party lab testing, and excellent customer service.
What are the payment processing challenges for CBD e-commerce businesses?
CBD businesses often face payment processing challenges due to the industry’s high-risk nature. Explore CBD-friendly payment processors to avoid issues.
How can I market my CBD e-commerce store effectively?
Effective marketing strategies for CBD include SEO practices, content marketing, GMB, social media, email marketing, and influencer partnerships.
Are there advertising restrictions for CBD products online?
Yes, CBD ads are subject to restrictions on many advertising platforms. It’s important to be aware of these restrictions and to look for CBD-friendly advertising options.
How do I handle shipping and compliance for CBD products?
Ensure compliance with CBD shipping regulations, discreet packaging, and clear product labeling to ensure compliance with legal requirements.
What trends should I be aware of in the CBD e-commerce industry?
Keep up with the latest CBD industry trends, like new cannabis-based products, new FDA laws, and changing consumer tastes, to stay ahead of the competition.