Over the course of the last 36 months, a plethora of cannabis and CBD oil businesses have launched across the UK and Europe. With huge predicted growth in the market, entrepreneurs everywhere are jumping on the CBD bandwagon. Having worked in the industry for nearly 3 years now, we’ve witnessed this first-hand. We are regularly approached by people looking to start up or gain traction for their CBD product range and the thing that we hear most often, from almost everyone we come across, is how fierce the competition is.
But is it true?
While we agree that if you take the CBD market at face-value, it does appear to be saturated. But, that doesn’t necessarily mean that there are no opportunities for start-ups. One area we really believe needs improvement is consistent premium branding. Most CBD businesses white-label a product, throw up a website, and wait for the sales to come in. If that’s what you have in mind then you will feel like there is a huge amount of competition. However, what we have noticed is that very little care is taken when designing the brand and creating a back story of why the end consumer should be purchasing the product. And therein lies the perfect opportunity for a small CBD company to differentiate themselves.
To a large extent the same buzz words are thrown about to describe CBD products, yet very little meat or substance is offered to back up such bold claims. The result? An end-consumer who has 1000’s of choices and very little differentiation from one brand to the next. This leads to little brand loyalty and makes keeping your potential customer extremely difficult.
So how do you stand out from the vast majority of CBD start-ups and get ahead?
In this article, we cover the best Cannabis/CBD Oil companies we have found who have a great presence online and an impressive branding image across the web.
Start from the beginning
A lot of companies launch without ever writing down exactly who they are and what they stand for. This is an excellent place to start before any design work begins on your CBD Brand.
- What is your company name and why did you choose it?
- Who is your target market and how will your product benefit them?
- How does your product address their pain points?
- Who are the people behind the brand and the product? Why have you decided to enter this market?
- What makes your product unique compared to others on the market?
Once you have a clear idea of your value proposition and how you can meet your target demographic’s needs, you can begin working on story behind the brand and what you can offer the end consumer to give them a compelling reason to purchase from you.
Probably one of the most neglected areas of a CBD start up is the investment in designing a logo. All too often we hear of relative who will be designing the logo. It is completely understandable that funds can be tight when launching your own CBD brand, but the logo of your brand is something you definitely shouldn’t look to do on the cheap. It will be synonymous with your product and needs to look professional, trustworthy and embody the ethos of your CBD range.
Finding a designer for your logo doesn’t need to be expensive. There are a number of great websites you can use to find very experienced designers. By using one of the following websites, Fiverr, People Per Hour or Upwork, you can easily post your project and have a raft of designers to choose from within a day or two.
Create branding guidelines
Creating the branding guidelines to accompany your logo goes a long way to ensure there is branding consistency, not just through your website but also through your social media channels.
Your branding guidelines should include 3 – 5 colours which should be used throughout your website design, as well as 2 or 3 fonts, with instructions on how they should be used both on your website and on branding materials, such as business cards and leaflets.
Whenever you start a new piece of design work, you should provide your branding guidelines to the designer who will use these to inform their work.
In conclusion: build a brand and stand out
Rather than competing on price which is a race to the bottom, you should focus your efforts on defining who you are and creating a branding story that communicates value to your clients.
By investing in your brand you will take a huge step towards standing out against the majority of new start ups in the CBD space. Your logo and branding guidelines will provide the structure for ongoing work and ensure all marketing efforts communicate the same message that speaks to your company’s values.