CBD Marketing: High Marks For The Next “It” Product

CBD and products like it seem to be making an immediate splash in healthcare as of late. But, how has this controversial product gained such rapid success?  Across the country, more and more companies are popping up selling CBD products ranging from oils to dog treats.

What is CBD?

Before we get into the marketing aspect of these products, we must answer the question “What the heck is CBD anyway?”  CBD is short for cannabidiol which is one of the chemical compounds found in the cannabis plant.  Unlike its cousin tetrahydrocannabinol (THC), CBD is the non-psychoactive compound found in the cannabis plant.  Many consumers, including some big-name athletes, have been using CBD products like oils and balms to help treat conditions like osteoarthritis, back pain, and even anxiety.

A Rising Market

Over the last few years, some companies have really broken out above the rest when marketing this formerly controversial product.  One of these companies is Canopy Growth.  The Canadian based cannabis company was the first from its country to enter the United States hemp CBD market.  They have since been able to garner a Twitter following of 31.6 thousand users.  Using messaging that gives consumers an inside look at their process is the main reason they’ve been able to reduce the stigma around CBD and see great success in the market.   They have also caught the eye of some big-time investors.  Constellation Brands, who are the owners of popular beer brands like Corona, currently owns a 38% stake of the company.

Another company that is more recently rising in the market is CBDMedic.  The Rhode Island-based company has made a recent splash by marketing their CBD based pain relief remedies to athletes and active people by teaming up with five-time Super Bowl champion and retired New England Patriots legend Rob Gronkowski.  This partnership aims to show consumers that everyone can have access to the same pain relief methods as elite athletes.  Another major success of the partnership is the reach that Gronkowski carries on social media, as well as his image of being both a generational talent and a regular guy.

CBD has been seeing a major increase in use in several demographics.  One example of this is that the current fastest-growing age group purchasing CBD is those 50+  with a 25% increase over the last year. CBD has also begun to put a dent in the prescription and OTC pain relief market with consumer usage dropping 71% for over the counter and 35% for prescription.

The Next Big Thing

It’s no question that CBD is quickly becoming the next big thing.  In fact, according to estimates from the Brightfield Group, the industry could hit $22 billion by the year 2022 thanks in part to its new style of marketing and ability to reach its demographics.

If you liked this post check out: Athlete’s & Dietary Supplements: Where’s The Regulation?

Kieran Stack
Kieran has 2 years’ experience in management. He holds a B.S. in Communications Studies from SUNY College at Oneonta, where he honed skills of speaking, writing, and listening and navigating small group dynamics. During his time at Oneonta he also actively participated in the university’s Marketing Club.

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