How Do You Win in the Lucrative CBD Market?

September 3, 2020

According to Brightfield Group, the CBD (Cannabidiol) market grew to $4 Billion in 2019, with more people expected to try CBD products for the first time this year. With increasing buzz around the benefits of CBD either in topical or ingestible formats, how is a marketer to target the right audience and with a message that will resonate with them? Using the Zeeto network, I asked a group of 980 consumers whether they have tried CBD in the past and if not, what their interest level was in trying it for the future to gain insights on who they are and how to communicate with them if you have a CBD product that you are trying to promote.

9% of respondents said that they use CBD quite often.

 If you want to win these people over from another CBD provider to your product, you are going to have to tout the benefits of your CBD product and why it is superior, giving them a reason to change*.  You could also ask a further question to them around what is most important in a CBD product, and then reaffirm that benefit in your messaging strategy.

10% of people said they wanted to try it for their nerves.

By knowing this about your audience, you can personalize their experience and win them over with information about CBD’s calming effects and with testimonials from customers who have used it for their anxiety.

14% of the audience want to try it for pain relief.

Here, you have the opportunity to educate your audience about the benefits of CBD for pain relief, especially with migraine and arthritis sufferers, and how your solution has helped many people with chronic pain. If you have multiple use cases for pain management, you can dig further into this group of people and ask an additional question about what types of pain they are experiencing and how your product can help them.

Women were slightly more likely to use or want to try CBD than men, 46% to 40%.

Younger age groups are more likely to use or want to try CBD than older age groups.

The under 40 crowd either used or wanted to try CBD at a rate of 52% compared to the 70 and older crowd at 29%.  

Income levels didn’t have much of an impact on whether someone used or wanted to try CBD.

The under $50K income level was at 45% likely to use or want to try, while the over $50K income levels had a 36% rate of using or wanting to try CBD.  However, incomes over $50K had a higher rate of using CBD quite often at 12%, compared to 9% for incomes under $50K.  

Understanding your audience, what their current usage is, and what motivates them to want to try your product are powerful tools you can use to personalize effectively and increase the ROI of your marketing campaigns.  By asking your audience a question before you spend marketing dollars on them, you can redirect your budgets to people most interested in your products, personalize their experience, and save money on those not likely to convert.

*As with any marketing program, make sure that your advertising abides by all applicable laws.

For additional public opinion insight, get in touch today so we can launch your own customized poll with comprehensive reports through our interface that are updated in real-time.