As in any new market, the effort to establish a business in the CBD industry comes with its own unique challenges. These are growing pains that every company must endure and overcome in order to be successful. One of these challenges is branding.
Branding is one of the most important parts of starting a new business, but it’s also one of the most challenging. However, building a strong brand for your CBD company can go a long way in the end. A solid brand will help you establish your credibility, customer base, and recognition.
If you feel intimidated by branding, you’re not alone. Many CBD entrepreneurs feel this way in the beginning and are able to work through the process with success!
In this article, we’ll walk you through some expert recommendations for successfully building your own private label CBD brand.
Starting a Private Label CB Brand: The Basics
The practice of “private labeling” has become a popular option in recent years for start-up CBD businesses who are looking to make a name for their brands. Basically, it’s a business model that’s based off of re-branding another company’s products. Companies buy white label products and then market and sell them using their own messaging, pricing, and labeling. In this way, business can greatly cut down on their overhead costs. In many ways, it’s much more efficient to buy a product that’s been pre-made rather than making your own. Making your own CBD products requires a lot of extra steps, which can include everything from growing hemp from seeds to harvesting and extraction.
Most mainstream grocers, for example, have their own “generic” brand of products. The products are usually purchased from producers and then re-branded. An easily-recognizable example is Wal-Mart’s Great Value products. Wal-Mart is not actually manufacturing all of the various products that carry the Great Value logo. Rather, the corporation purchases them from manufacturers and then re-brands them using its own private labeling.
How to Create a Brand that Stands Out and Wins Customers
Now that we have a bit of background around private labeling and its benefits, let’s talk about brand building. Below, we’ve listed a couple things that businesses can do to start building a strong private label CBD brand.
Establish Your Values
First and foremost, you’ll want to clearly define your brand values. In other words, you’ll need to specify which consumer emotions your brand is going to strive to resonate with. Once your brand values have been defined, the next step will be to incorporate those into your messaging and marketing strategies.
Define Your Target Audience
Secondly, it’s vital that you understand your consumer base and that you build your business strategy accordingly. What demographics are you hoping to reach with your private label CBD? How, exactly, will your brand values resonate with them? Both of these questions should be considered carefully.
Join Our CBD Private Label Program
Are you looking to launch or expand your own private label CBD business? We can help! Join our private label program for CBD businesses and entrepreneurs today! Contact our office to get started!