We recently talked about the incredible benefits of using AI in the CBD industry. We thought it might be good to delve into the topic in greater detail. You can see how big data and AI are being utilized by the most astute CBD marketers.
When you evaluate the many different businesses and industries in the world today, some are flourishing more than others. This is especially true now with COVID in play, and new ‘work from home’ and transportation guidelines in place. Whether it’s online shopping, virtual learning or even local and retail businesses taking their efforts online, it’s always important to see what niche markets are doing best and what’s making them thrive over others.
In this particular article, we will be looking at the thriving CBD industry and the many factors in place that are allowing it to continually thrive month over month. You can get a better sense of the role that big data plays in the changing direction of the market. As more and more people discover the benefits of cannabidiol, there’s a growing demand for edibles, oils, and topicals.
So how can you stand out in a crowded marketplace by leveraging data analytics?
While every brand wants to create a viral campaign, not every concept will succeed. The best strategy is to devote consistent effort to creative marketing tactics that have worked for small businesses and international brands alike. This is a lot easier if you know how to tap the potential of big data.
Big Data is Driving Major Changes in the CBD Industry
To learn more about what’s working best for businesses and brands in this competitive space, be sure to read through and implement the recommended methods highlighted below. You can see how big data is going to transform the CBD market.
#1 Start a Blog with Machine Learning Algorithms in Place
Blogs are a great way to build your brand’s voice while utilizing insights from big data. With more than a billion active websites and blogs on the internet today, a blog is a great way to create custom catered content on your site, which can also improve your brand’s reach in the search results and across all social media platforms.
When it comes time to start writing your content, it’s best to focus on your target audience and exactly what they are looking for. By creating posts around keywords related to your brand and geographic area, you can direct more traffic to your webpage and engage your customers more deeply. And always keep in mind, write for your audience and not the search engines.
Here are some quick stats on what’s happening in the world of blogging and WordPress in 2020. You will see why using a blog in conjunction with a big data strategy will work out well.
- Each month, approximately 409 million people view more than 20 billion pages.
- There are about 70 million posts being published each month by WordPress users.
- 77 million new blog comments are generated by readers each month.
- 71% of WordPress sites are written in English.
A word of caution: a good blog can build trust in your online store, but a bad blog will look like spam to search engines and consumers.
For best results:
- Highlight real people and processes that support your specific company
- Include high-value content like interviews with influencers and local industry leaders
- Make sure the tone of your blog matches your brand’s voice
- Produce useful, readable, and informative articles relevant to your customer base
#2 Create a Unique Newsletter
Outside of blogging, one of the best ways to connect with your audience and customers is through the use of a mailing list. It’s also a perfect way to keep an eye on your competition and seeing what type of mailings and promotions they might be sending out.
Big data can help immensely with your newsletter. You can use sophisticated data analytics tools to conduct A/B testing to see how different marketing tactics perform.
For example, want to mimic the success of brands like CBDfx? Subscribe to their mailing list and discover the many different ways they are using email marketing to connect with their audience and customers on a monthly basis.
If you’re only using email to advertise sales and new products, customers are likely to unsubscribe. Consider mixing it up with content like the following:
- Link roundups to local businesses
- Tips and tricks for using products in new recipes
- Personal missives from your perspective as a small business owner
Of course, you can also advertise products. Just make sure there’s another incentive for customers to open your email.
#3 Create Your Own Podcast
No great writers on your team? Maybe you could put your Chatty Kathys to good use. Why not create your own zany podcast with some of the characters on your team? Big data analytics tools will help you see how well they work.
Think of a specific theme, like natural wellness, adaptogenic plants, or an in-depth look into changing cultural perspectives on hemp—add some personality and voilà!
Then, use podcasting software to ensure a high production value.
If you find success and a loyal group of listeners, you may find yourself at the helm of two thriving businesses!
#4 Market with SMS
SMS marketing is another great way to get the most of big data. Data analytics can help you see how customers respond to various text messaging marketing strategies. AI can make it even more effective.
Mobile marketing is a relatively new trend. You might think that consumers would be annoyed by brands texting them. However, new AI solutions help customers have engaging virtual conversations that answer questions about your products.
One of the most important aspects of successfully growing and marketing your business, is knowing who your target audience is. As reported by EZTexting, the following industry stats apply when using SMS within your marketing efforts.
- Among the 18-34 year-old age bracket, text is the preferred channel for notifications from businesses.
- 83% of millennials open SMS messages within 90 seconds of receiving them.
- 75% of millennials prefer SMS communications for deliveries, promotions, and surveys.
- 31% of consumers respond to SMS surveys, with an average response time of less than six minutes.
- Consumers are more likely to open text messages before any other form of mobile communication.
And with these stats in mind, you will also want to focus your efforts on the following working methods to see the best results in SMS content creation, marketing and deliverability.
- Allow customers to opt-in
- Create a chatbot that performs natural language processing
- Don’t overwhelm customers with messages
- Perform robust analyses to target the right customers for your marketing campaign
#5 Partner with Local Businesses
Local businesses can be surprisingly helpful partners with a data-driven marketing strategy. They keep lots of data that can help you find the right customers.
A brand partnership or collaboration is a great way for an established brand or influencer to lend their platform to an up-and-coming company – take a look at companies like Vamp Brands for a great example. They aren’t just a brand in themselves, but also a brand and product that many local businesses would likely carry as well. In exchange, the bigger brand diversifies their offerings and introduces a new trendy voice.
While you may not be able to snag a partnership with Nike right away, there are plenty of local brands and businesses who would be eager to promote your product.
Consider the following strategies:
- Contact local boutiques – Many customers are willing to pay more for products from a local company. Even if most of your sales are online, try to maintain a presence in local retail spaces.
- Cross-promote – Agree to feature another brand’s products on your social media in exchange for cross-promotion. You can even create a raffle. Ask people to tag both of your brands and choose a winner from among the participants.
- Create a new product – Would your hemp be a perfect addition to a craft beer or herbal muscle salve? Find a local business that wants to create a product using your own white labeled or private product.
#6 Get into Video
Videos receive more social media engagement than still images or text. Even if you’re not a videographer, there’s a lot you can do with your iPhone and a little enthusiasm.
In fact, according to Blogging.org, 91% of marketers have indicated that they are happy with the ROI that video marketing brings in when it comes to social media. With this in mind, there is absolutely no reason for your business or brand to not be taking advantage of both.
Make the most of your Instagram stories and consider marketing on emerging platforms like Snapchat and TikTok. And for even better results and viral activity, try to make them fun and engaging, but also not like a real commercial.
Big Data is the Backbone of Modern CBD Marketing
The best CBD companies use big data to their full advantage when developing a marketing strategy. Like any new endeavor, it can take time to succeed with a new marketing campaign, even if it relies on data analytics and AI technology. However, you need to stay consistent. People won’t subscribe to a podcast with only one episode, nor will they keep checking a blog with only one post.
Keep your efforts consistent to build a devoted following.
Hopefully, you have an initial spark of success with your new marketing efforts. As soon as you have momentum, keep that ball rolling! Soon enough, your little marketing snowflakes will turn into a giant, cartoon snowball (made of MONEY! Too far? Okay.