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Over the last ten years, increasing acceptance and improved legal regulation has caused the CBD and hemp marketplace to explode. Whether it’s from a desire to find a more natural pain and mental therapeutic relief product or to work toward industrial products that are more effective and environmentally friendly, America is hot for CBD and hemp. With the passing of the Farm Bill in 2018, and with more and more states legalizing, CBD – the non-psychoactive ingredient in all cannabis-base plants in products is gearing up to be the next big green wave. However, with regulations still being established for sales and advertising, online marketing options focused on organic content and well-researched products are offering the best return.
Should I Start a CBD E-Commerce Store?
Because products containing less than 0.3% THC are technically legal across state lines, and anecdotal evidence points toward CBD being one of America’s growing choices for pain and stress relief, many investors are looking to hemp and CBD infused edibles, smokables, topicals, and MCT oil.
Getting into a brand new market comes with both high risk and high potential for reward. On the plus side, hemp and CBD are some of the most searched for terms for products on Google. When legalization hits, we’ll see an explosion into the market like we’ve never seen before. Being quick into the market has a lot of value. On the flip side, every day more and more companies are looking to get in on this fast-growing trend. Consumers are getting more educated, and impostors seek to get their share of the market too. If you start your e-commerce project with the proper strategy, plan your moves and set clear obtainable SEO goals, and solidify your payment options, your e-store will succeed.
What Should I Expect?
Here’s the exciting part about getting into CBD and hemp: this wild west marketplace rewards hustle. Those who are willing to put in the effort to establish a visually pleasing and recognizable brand and to invest in vetted, quality products will be rewarded.
Building an e-commerce store and establishing a sales pipeline can take a lot of work. Hiring a professional to ensure your website is properly tuned for SEO and to steer you away from potential pitfalls is highly recommend. E-Commerce software suppliers bank on the fact that the setup and organization of an e-commerce website seem easy, but it can take an immense amount of experience and knowledge to do properly. Picking the right software platform for ease of use, to ensure you have the right features, to sync with potentially new credit card and bank processing software, and to have the experience to guide you through the “what ifs” can save you hours of time and be the difference between an e-commerce store that makes $100 per day and one that makes $1,000 per day.
Automation is also highly essential to a successful cannabis or hemp e-commerce store. Ideally, your website should be your 2nd sales force – while your in-person team’s goal is to build trust and establish connections, your website should drive leads and support your revenue stream. Making sure your e-store properly educates your potential customer about your products and funnels them to the right decision to make a sale requires strategy, planning, and execution. Our design and development team has the experience necessary to guide you through this process and give you the skills and tools you need to navigate the online sales process from visitor to long-term buyer!
Keep in mind: this is a brand new market, and regulations are still being fine-tuned. While the FDA and WHO still struggle to figure out how to categorize hemp and CBD, states have varying levels of how they handle the legality of the product. As a result, banks still consider hemp and CBD “high risk” products and will typically make you jump through hoops and apply higher processing costs.
Be prepared to fight for your spot, and don’t be surprised when competitors with big money suddenly surpass you. Making consistent moves and smart marketing choices will help you get your slice of the pie!
Ready to launch your hemp or cannabis based business online? Consult with the Colorado 420 Websites team of cannabis marketing experts and get the best 420 themed website on the market!
