Jeff asks, "What framework and strategies would you use to market hemp and CBD products?"
Due to the number of restrictions on this class of product, you'll have to take an approach used by other drug manufacturers and pharmaceutical companies. There are three fundamental strategies you can use successfully. Watch the video for full details.
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What follows is an AI-generated transcript. The transcript may contain errors and is not a substitute for watching the video.
In today's episode, Jeff asks, What framework and strategies would you use to market hemp and CBD products? Well, there's a question I wasn't expecting an answer today, up.
Due to the number there's a there's a ton of restrictions on this industry, right? Because it's legality in various jurisdictions is different. It varies it in the here in the United States, it is illegal, technically the federal level.
And some of the products within that category are illegal, the federal level and then varying states and local municipalities have different restrictions on what you can and can't do. I live in Massachusetts and and most of that class of product is fully legal within the state. Now, obviously, if you go and use these
Products try to fly with them through the airport, which is a federal property it's going to be all kinds of messy. So
we, we should take a page from the pharmaceutical industry because pharmaceutical companies have extreme restrictions put on them, particularly unpaid advertising, which would be your normal go to if you were trying to attract
new audiences or awareness. So there's there's two fundamental ways you can do this. And you probably should do them both and do them in tandem. The first is basic brand building so you don't market the product and hopefully your company name is his name something sensible and not obviously
promoting a a product that is illegal in parts of the country.
And you do a brand build just the way you would do a brand builder for any other product or service or company where you sponsor like the local pizza company where the local literally
field or whatever it is that you are, whatever, wherever it is that your customers will be spending their time and, and want the support of a company to help what they care about. So I, I know nothing about the CBD industry or its customers but if I were, for example, marketing a Coffee Company
What else do coffee drinkers do? Well, they all obviously there's a lot of coffee in the world but
they you could sponsor you know, stretches a road and, and do various billboards promoting just the brand of the company. When you look at the way Starbucks markets itself, it sponsors musicians, why? Because it plays those musicians within the stores. And so that's one avenue promoting the things that you know, your audience likes, so, you know, your audience wants part of their
other activities. The second strategy and the one that I think probably the most
But the brand is still important is what we call them when we were doing pharmaceutical marketing, disease, state awareness. So you don't market the drug or the outcome, you market the problem, hey, you've got this problem with stress you've got this problem with rheumatoid arthritis you've got this problem with lack of physical fitness, whatever the the disease state is, you build awareness and you build awareness of it and you build awareness of common solutions for it, but you never market the product directly. So instead you market
it. No Do you? Do you feel tired all the time? Do you sleep poorly? You may have whatever the disease name is. And then
now most pharmacy companies will just do the standard pitch to ask your doctor to learn more.
At least in the United States, pharmaceutical companies have even more different restrictions outside of the United States. But that disease state awareness is a pretty safe bet. That flies in many jurisdictions.
back a couple years ago, I was in Switzerland, which is the home of every major pharmaceutical company. And the folks I was talking to at the time, were saying, Yeah, this disease, state awareness flies in pretty much every jurisdiction because you're not selling a product you are selling awareness you're selling, helping the consumer understand what's going on. You're selling education, you're selling training, you're selling,
not self diagnosis, but you're encouraging the consumers who may be eligible candidates for your pharmaceutical for your drug
To talk to a qualified medical expert for assistance now,
in an industry like hemp and CBD, you probably
Want to go the same route? You probably want to to encourage people do what problems do you have? And are there problems for which have or CBD products are ideally suited as sort of a, a known good outcome based on on solid medical science? If so, you build marketing campaigns around that. If fatigue or stress or arthritis are some of the things that you can help treat, and there's and there's scientific evidence to prove that I would assume you would have that. Then that's, you build a lot of campaigns, you build videos, you build explainers, you build white papers, you build
interactive, so you do all the things you would do for any other disease, state awareness. Maybe you sponsor fundraisers, maybe you sponsor like, you know,
inflatable ride things at the local park, whatever it is that you have seen other pharmaceutical companies do very well.
From the perspective of getting gaining awareness of the problem and asking qualified medical professional for consultation on the problem, now adapt the strategy to the ecosystem in your market. Again, I don't know the market so I can't say who is or is not
qualified to be handing out products. But I have seen that, at least here in Massachusetts a lot of the medical dispensaries do have people who have at least some level of training and ability to to recommend certain products and and doctors are permitted to prescribe medical marijuana and other products to their patients to say like yes, this would be a good alternative to a more intensive painkiller. So that's a you know, that's probably the third thing is is, again, that's something the pharmaceutical companies do very, very successfully. What are you doing for medical professional outreach to physicians to nurse practitioners to anyone who is
permitted to make any kind of prescription
by law? What are you doing to do outreach to them now in the old days, you know, companies to just go out and buy these people like cars.
There are a number of bribery and anticorruption laws now that restrict the types of gifts that you can give, and they are more or less than forced.
But in terms of outreach, there are a number of physicians who probably are not aware of the latest research, who are not aware of the findings by by validated companies or by academic researchers. You'd want to build an education and outreach campaign for those folks as well to let them know hey, this is another tool in your toolkit to help patients live better lives. So those the approaches I would take I would do the brand building to make sure that the company's name is is prominent.
I would spend a lot the lion's share of your budget on the Boise State awareness stuff. And then the medical professional outreach is sort of the the triumvirate of this type of marketing. And this is this would hold true for any kind of product where you have a lot of restrictions on what you're allowed to pay to advertise or what you're allowed to do from a, an outreach and communications.
Do these three things and you will be on the right side of the law and in compliance with what paid platforms like Google ads, for example will permit you to do so. Interesting question. Interesting question, Jeff. As always, if you have follow up questions, please leave them in the comments below. And subscribe to the YouTube channel and the newsletter I'll talk to you soon. want help solving your company's data analytics and digital marketing problems. This is trust insights.ai today and let us know how we can help you
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