There is no mistake about the popularity of CBD in the marketplace. And the success has to do in part with its brand. A recognizable loved and needed brand is one of the most valuable assets you can own.
Even if you are beginning to consider the path of owning a CBD business or including the product to your services, understanding the former fact will set you up for success.
And now that the sale, access, and possession of CBD will be legal in Canada later this year, more companies are turning to the possibilities of branding CBD to its highest potential. This process requires a strategic brand development.
Whether you own a business or you're in the early stages of starting one strong branding will help your cannabis brand standout and increase sales. Keep reading below to learn how to make your customers love your legal product.
Brand Development in a Nutshell
The first thing you should know about your brand, before even giving it a name is that it encompasses far more than the initial presentation. Branding is not as intuitive as people think it is.
Even if your logo or its name catches someone's eye, their emotions about your product may stay unprovoked. That's because your brands lasting impression effects people's senses and emotions at the same time. So you have to work for their desire to want your product.
It's about a story, it's about approaching it from a more personal level, so they reflect on the products needed in their own lives. Dramatic as it may sound, this approach is used by top ad agencies all the time.
If you are starting off on a small scale, don't worry. Because the approach can work for you just as well. Here's what you should do to elevate your brand:
1. Determine Who Your Audience Will Be
When you begin to build your brand keep in mind who you're trying to reach. This will help create a customized message that calls for their exact needs. This step will increase the likelihood of a well-defined mission statement too.
2. Be Unique
Research your closest competitors and study their own success. The goal here isn't to imitate their process, but to differ from them to stand out.
3. Recognize Your Products Qualities
Once you perfect your competitor research for your own brand development focus on the qualities that your brand can offer. Always assume that your product can provide value to your client's lives. A good formula is to insert a benefit that equals an experienced outcome.
4. Work on Your Elevator Pitch
You won't have to spend more than thirty seconds explaining who you are to a customer once you answer these three aspects in one to two sentences:
- Who You Are
- What Do You Offer
- Why Should You Care
5. Stay Consistent Through out the Process
It's important that as you work through the steps above you measure consistency in the process. If you start changing your brand people will notice and inevitably, confuse them.
This can make the goal of building a long-term brand more difficult. And you can't afford that when you're just starting to introduce a product to the public.
Make sure you can keep your client's perception of your service strong. Do this by offering relevant content on social media and developing engagement and community building. These approaches always help potential clients to educate themselves with your brand.
Help Consumers Stay in Touch with Your Brand
The cannabis market's competitiveness is reaching new heights. Ever since news agencies announced that the CBD compound will go through regulations this year, businesses have begun thinking of ways to introduce it to existing and/or new clients. A major key aspect of this success will have to do with its brand development.
If you're ready to build a strong cannabis product that could reach 100 per cent customer satisfaction, don't hesitate to contact us today. Our innovation group can help you complete product testing and registration. All the while keeping a focus on developing novel therapeutic goods.