by Sarah Hutchings
Posted: Thursday 6th February 2020
CBD has well and truly captured the medical world's imagination. Mounting scientific evidence points to the enormous therapeutic potential of CBD to treat a range of conditions including depression and anxiety, heart health, chronic pain and cancer-related symptoms.
Now legally available in Canada, most U.S. States and European Union Countries, the market is set to soar. Leading cannabis researchers (BDS Analytics & Arcview Market Research), project that the market value of CBD sales in the U.S. alone will surpass $20 billion by 2024.
So how is your business going to win the race for market share?
Until recently, marijuana and hemp products were illegal in most countries.
While the medical, public and political perceptions of products made from these materials are rapidly evolving, it is still not plain sailing for companies wanting to promote their CBD products.
Significant advertising restrictions still exist.
Even modern digital ad giants Facebook and Google reject ads that promote these products. They have immediately shut down advertising accounts and banned businesses from using the platform as a result.
These restrictions aren't going to change while CBD is still under review by the U.S. Food & Drug Administration (FDA).
So how are you supposed to promote and grow your CBD business?
Waiting for advertising rules to change is NOT the answer.
With approximately 40% of U.S. consumers aged 21 and above claiming that they would consider trying CBD according to a study by High Yield Insights, the race is already on to capture share in this market.
Here are six proven strategies you can start using now:
Those in CBD businesses know how effective their products are. The secret to exponentially growing a CBD business is to build a network of passionate brand ambassadors to promote your products.
Harnessing the power of word of mouth to ride the coming wave of CBD growth, is the smart and effective way to also overcome advertising restrictions currently impacting this market.
With over 60,000 users, ShoutOut is unashamedly the leading referral application for CBD businesses the world over. With in-built multi-level marketing functionality, thousands of merchants are achieving phenomenal revenue results with this proven application.
Included with ShoutOut's FREE 7-day trial is full access to video training. Learn how to master the full power of multi-level affiliate marketing by following our comprehensive video course covering 29 important subjects that will benefit your CBD business and set you on a successful path to achieve your goals.