CPG Lessons For The CBD Industry

  • Undoubtedly, as the market matures and competition increases, many of today’s CBD operators will find that simply having shelf space won’t be enough to attract new customers and retain the loyalty of its existing ones.
  • From understanding shopper needs and category white space, to uncovering Jobs-to-be-Done and innovation pathways, to hitting on just the right brand expression and messaging, to pricing products in that sweet spot to drive shopper purchase and company profit; these companies have succeeded in competitive business environments by ensuring their products resonate both rationally – and more importantly, emotionally – with shoppers.
  • That emotional bond, achieved through a consumer packaged goods marketing mindset, will clearly grow in importance for today’s CBD companies; as well as the ones to follow.
  • Generally speaking, though, it’s the idea of deeply understanding your consumer target, putting that consumer first throughout development and activation, and taking a long-term, strategic view of what a company needs to do to retain that consumer and attract newer ones.

Read full article: greenentrepreneur.com