Four Ways to Grow a CBD BusinessJune 24, 2022
If you were to make a list of 1000 ways to grow your CBD business, all 1000 would fall downline of four categories. On this video Co-Founder, Todd Smith provides a great overview of some of the most popular ways and challenges you to think outside the box to find those hidden opportunities.
Growing a CBD business can be broken down into four basic categories. There are four essential methods for growing a business. The following methods outline the top strategies for successful development. By following these tips, your business is likely grow, develop and mature.
1. Acquire and Gain New Customers
Acquiring new customers is an essential component of growth; it is the first step. In order to complete this, start off by making a list of 25 ideas for acquiring more customers. These may include…
-Increasing conversion rate
-Receiving more online reviews
-Participating in affiliate marketing (offering influencers compensation for promotion)
-Driving targeted traffic directly to your website
2. Increase the Frequency of Orders
Increasing the frequency of orders will help expedite growth. Similar to the first strategy, creating a list of ideas can be helpful. These may include…
-Initiating a subscription-based program
-Sending weekly newsletters
-Interacting with customers (social media)
-Offering promotions/sales/special deals
3. Increase the Size of Orders
Increasing the size of orders will help your business to grow rapidly. Similar to the above strategies, a list of growth ideas can be very helpful. These may include…
-Offering customers free shipping (this gives incentive to purchase more)
-Promoting other products (suggest similar products on website)
-Offering a bundle/package deal
-Offering a gift with purchase for minimum purchase amount (free gift with $70 & up)
4. Increase Repeated Customers/ Customer Retention
Increasing customer retention is an excellent way to guarantee growth longterm. A combination of the first and fourth strategy will allow your customer base to continually grow. Creating a list is very beneficial for this method, as with all the others. These may include…
-Writing content that targets audience/ connects with them
-Offering charitable services to the community/ donations to the community
-Initiating a referral program
-Initiating a loyalty program
-Providing outstanding customer service
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About Joy Organics
Joy Organics was created with a clear initiative: to develop Premium THC-Free Broad Spectrum CBD Products through innovation and excellence, with service to match. Joy Organics is the world’s premier line of family-friendly CBD products. We aim to take charge of the CBD industry with radical transparency and the highest quality hemp oil products.
Our wholesale program is designed to allow retail businesses, healthcare professionals and independent entrepreneurs to capitalize on the rapidly growing CBD market by offering the Joy Organics line CBD Products. Our Private Label CBD Partnership Program allows you to build a loyal customer base under your own private label.
We want to not only provide the highest quality CBD products on the market and also to give you all the information we have so you are educated and knowledgeable.
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