[Execute] Top 5 Success Factors of CBD Brand Leaders
The Top 5 Success Factors of CBD Brand Leaders continues! In our last episode, Dr. Jon and Randall Thompson continued the conversation of CBD brand leader practices by discussing how to identify your personal regulatory path, and how to choose your best potential business partners. These steps are crucial to stay on track with your own geographic regulations in the hemp and CBD markets and to find the right partnership to become a successful brand leader in the industry. In this final episode of Top 5 Success Factors, Dr. Jon and Randall discuss two very important considerations: finding your market niche, and using digital marketing to the fullest.
Standing out in the hemp and CBD industry is not necessarily easy to accomplish. Plenty of businesses have decided to jump into the market with the goal of becoming one of the top brand leaders in the industry. What’s important to consider is finding the right marketing target in order to find your place. This means identifying your target market, and executing on what that market may need. By doing this, your chances of success are considerably more possible by offering a unique solution in your own specific area of the market.
And, in an ever increasingly digital world, utilizing digital marketing tactics is essential to make your voice heard. This includes social media, email campaigns, creating a high-quality website, understanding search engine optimization (SEO) and more. By taking advantage of these factors, your business has the potential to be seen and heard in a growing business that has a growing presence of eager entrepreneurs ready to envelop the market.
[00:00] – Welcome to Top 5 Success Factors for CBD Brand Leaders
[01:00] – Giveaway Winner
[03:00] – Top 5 Success Factors: Execute
[04:00] – #3 Choose the right partners
[06:11] – Business Tip from Dr. Jon
[07:28] – Talk to Suppliers
[09:09] – Picking Partners
[12:07] – Quality Agreements are Key!
[13:51] – The Process Flow
[16:48] – Choose your Niche
[18:38] – Start with the Who?
[21:12] – Create an Ownable and advantaged Niche
[24:04] – Product Differentiation
[27:06] – Opportunities for Differentiation
[27:38] – CBD Product Segment Review
[29:38] – Build Distribution
[33:45] – Final Words
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