How to Start an Online CBD Business?
When the Farm Bill was passed in 2018, hemp-derived cannabinoids were federally legalized. Since then, the CBD industry has grown tremendously hitting $4.6 billion and 2020, and is expected to hit around $20 billion by 2025.
As a result, the CBD business is an attractive one to get into especially through eCommerce. However, that doesn’t mean that it will be easy.
There are still many regulations to navigate through as well as other business hurdles. Thankfully, the road to success has already been navigated by other online CBD sellers, and there are some simple steps you can take to follow in kind.
The Basics
If you want to sell CBD online, then one of the first steps you should take is to open a bank account and order a business credit card for all your business purchases.
Unfortunately, many businesses, including banks, don’t want to associate with a CBD business; so, it is important to find a bank that is open to your business, or you may wake up one day only to find out that your bank shut down your account.
Legal Issues
It is important to look into all the legal regulations surrounding CBD in your state. While CBD with THC under 0.3% has been legalized on a federal level, individual states still have a say and many have put their own conditions/regulations on selling CBD.
It is also important to make sure that your supplier is “above board.” There are many trusted suppliers out there to choose from, but there are also many that are a bit sketchy and should be avoided.
When it comes to advertising your products, it is best to stay away from any health claims. A rule of thumb is to only claim what the FDA has already confirmed—or else, you may receive a hefty fine, or worse, from the relevant legal authorities.
3 Marketing Strategies to Sell CBD Online
When, for example, you are trying to sell Delta 8 online, you may find that there are many roadblocks in your way. For one, many traditional advertising methods will be unavailable to you.
Google ads and Facebook ads will be of no use to you as both Google and Facebook do not want to associate with a CBD business and will likely shut down your ads. As a result, more creative methods are needed to sell CBD online.
1. SEO
One of the most tested and true methods to advertise your CBD business is by making it rank higher in the search engine through SEO (Search Engine Optimization).
This can be done by integrating relevant and high-volume keywords into your site as well as starting a blog. By adding a blog full of relevant and search-engine-optimized articles, your website will begin to draw in more customers via organic searches.
2. Affiliate Marketing
Another way to advertise your CBD business is through affiliate marketing. This can be done in a variety of ways such as finding popular and relevant influencers to try your product and share your business with their many followers.
You can also submit guest posts to popular CBD blogs to indirectly advertise your business in front of another’s audience.
3. Email Marketing
Lastly, another good way to advertise your online CBD business is through email marketing. By sending relevant emails with various deals or new product releases to potential customers, you can increase the traffic to your site.
Partner with a CBD Manufacturer
One of the most important steps to take when selling CBD online is to find a quality and trustworthy manufacturer who can supply you with your products.
CanniLabs is one such manufacturer. They can produce and customize just about any CBD product you can think of so that your store can truly sell unique products.
We produce high-quality hemp-related products such as edibles, salves, gels, and much more including your very own custom formulation.
So, if you are looking for a trustworthy manufacturer that can supply you with a plethora of hemp-related products, then CanniLabs is a great choice.
Final Thoughts
All in all, starting an online CBD business can be difficult. However, it is a thriving and growing industry that is worth the trouble to get into. As long as you can navigate the various regulations surrounding CBD and find a great manufacturer, then your business will be set to reach great heights.