- Brightfield Group recently wrote a blog about the use of cbdMD.
- cbdMD uses athletes and pets to bring attention to themselves from consumers.
The cannabis market is starting to gain some momentum, and the first people to enter the market are bringing in the most revenue at this point. However, market activity is steadily increasing as larger manufacturers get involved. Many experts believe that the market will continue to grow at this point, and it is important for companies to find ways to resonate with consumers to continue to set themselves apart.
With the policies imposed by Google and Facebook, advertising online is extremely scarce, which means that these brands have to be creative in advertising, especially as they come online. In doing so, they’ve had to predominantly rely on SEO and other creative ways to get their name out there. However, one of the companies to find a unique way to bring themselves into the market is cbdMD.
cbdMD is presently one of the leading brands in the cannabis industry, and it is featured on the New York Stock Exchange as the only pure-play CBD company. The company has already been endorsed by professional golfer Bubba Watson, but they’ve gone far beyond there. cbdMD has consistently worked to get involved with other athletes, using a single caveat – they only work with athletes that actually use their products.
With this authenticity, the company has been able to gain more trust in the consumers, especially in the sports industry, because fans start to see CBD as a normal substance to use. Even if the user isn’t actually an athlete, CBD offers substantial therapeutic benefits to anyone, dealing with ailments that that these sports fans may see their role models going through.
Along with the sports industry, cbdMD has also focuses on the pet industry, which could not be more drastically different from the sports industry. However, with all of the popularity that a single animal picture or video can get, cbdMD has found it quite easy to get visibility in this sector. In the data collected by Brightfield Group, the firm alleged that the CBD market for pets could grow to 12 times the size of what it brought in during 2018, producing $401 million in sales. Using this approach allows the company to gain the attention of pet owners, while exposing them to products for the consumers as well.
With all of these social strategies and collaborations, there have been multiple PR efforts and charitable activities that has made the cbdMD brand more popular. In fact, they founded National CBD Day (August 8th) and National Hemp Day (February 4th), helping to bring awareness across multiple platforms for consumers that don’t have a clear understanding. With this exposure, cbdMD has been able to increase their revenue over time.
Having a greater awareness and understanding of the market will force consumers to have a greater expectation of the products that they purchase and the brands that they trust. Right now, fitness and pet care are both big topics of conversation within the CBD discussion, which means that cbdMD is clearly making the right moves right now.
If other companies want to attempt to keep up, they might need to take note and follow suit.