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How to Create a Cannabis Product That SELLS

The cannabis product industry is set to grow immensely by the year 2025. In 2018, the cannabis market had a major boost and doubled in worth to about $1.9 billion. Estimates show that by the year 2025, these sales will hit the $20 billion mark. This converts to an annual growth rate of about 40 […]

How to Create a Cannabis Product That SELLS

The cannabis product industry is set to grow immensely by the year 2025. In 2018, the cannabis market had a major boost and doubled in worth to about $1.9 billion. Estimates show that by the year 2025, these sales will hit the $20 billion mark. This converts to an annual growth rate of about 40 percent. 

If you are looking into starting a business in the cannabis market or already have one, this is the time to come up with a great product and make some sales. Ensuring that your product sells will require a lot of hard work and effort, as this is not an easy industry to set up in. However, once you have learned how to navigate through the shifting rules and regulations, then it is worth all the hustle.

So, how do you create a great product that will be flying off the shelves?

Understand the Rules and Regulations of the Industry 

Whether you have a cannabis business that is already running or not, stay keen on the industry’s rules and regulations. Always double and triple check, taking nothing for granted. 

Make sure that your products contain a low THC to CBD ratio. The legal limit for cannabis products is 0.3 percent. A survey by the Food and Drug Administration (FDA) in 2015 found that many cannabis products contain a higher THC to CBD ratio than advertised. 

This could land you and your customers in trouble, as anything higher than the legal limit falls in the category of marijuana, which is federally illegal. 

Some rules and regulations have loopholes. As a result, you might work around them, but even with the right connections and products, sometimes things can go wrong. The most important thing is to ensure that you have a great product that will sell itself so that you will not have to go overboard trying to get around loopholes.

Choose Your Niche

Whom do you want to sell to? This is the specific group of people whom you want to target and sell to. The reason you need to pinpoint this is that it will inform the kind of products you will choose for selling. Different people have different preferences as to types of products and the way they want to consume cannabis. 

Choose Your Product

Choose Your Product

You can find several popular groups of cannabis products in the industry right now, including: 

  • Buds/Flowers: These loose flowers and pre-rolls are the most popular form. Users consume them by smoking using a pipe or rolling them into a joint. Buds are best smoked dried and cured to prevent health problems.
  • Topicals: These consist of creams, lotions, gels, sprays, and patches applied directly to the skin. They target a particular area of the body and can be great for dealing with pain. They also form a good percentage of cannabis beauty and skincare products. 
  • Sublingual Tinctures: These are mainly preferred by people who want to feel the effects of cannabis quickly. These are oils mixed with alcohol or another strong solvent and sold in small bottles. The tincture is placed under the tongue using a dropper and absorbed.
  • Vapes: An electronic device vaporizes cannabis concentrates, which come in cartridges, and users consume it through inhalation. 
  • Edibles: These include baked goods, gummies, chocolates, and other foods. They face significant scrutiny by the FDA but remain a commonly found and fast-growing sector of the industry.
  • Pills and Capsules: Many people who experience seizures and issues with their digestive system use cannabis in this form.

Depending on the group of people that you target, make your choice of product or products. Once you have chosen the product or products that you want to sell, the next step is to find your cannabis supplier.

Choose Your Supplier

Your supplier is primarily informed by the kind of product that you want to sell. Keep in mind that your customers will be looking for many of the same qualities in you that you are looking for in your supplier. Therefore, you need to ensure that your supplier provides you with: 

  • Clean and high-quality products that fit your standards
  • A variety of products so you can choose what fits your business best
  • Logical pricing
  • Great customer service
  • Credible proof that their products are properly tested

This will ensure that you are able to create a quality product that will likewise ensure your customers have a quality experience.

Merchandising

This refers to the activity of promoting your products to a retail consumer. Remember the factors that you considered when choosing your supplier? Now you get to apply those same factors to yourself. 

You will need to focus on ensuring that you have the right product, in the right quantities, in the right condition, in the right place, at the right time, and at the right price

The Right Product

The Right Product

You have to make sure that your product sells compared to other brands. The right product will be one of high quality that your educated customers know they can trust and that can withstand the examination of industry regulators. 

The Right Quantities

After ensuring that you have a quality product, decide the quantity or quantities that you want to package it in. After getting the right quantities, it is time to package it. 

The Right Condition 

Packaging not only ensures that your customers receive their goods in the right condition but also that those goods have an appropriate look that appeals to your target market. For this, you may need to get the services of a designer and a reliable laboratory. A designer will help create packaging with a professional feel, while the laboratory will test your products and give you reliable results. You can then share those results with your customers through a QR code on each product’s package. 

The Right Place

Regardless of whether or not you have a physical shop, if you want to make good money, an online presence is not an option but a necessity. 

Thoroughly research locations and laws in both your state and city on how and where cannabis can be sold. With the right knowledge and creativity, you will ensure maximum sales without breaking any rules and regulations.

The Right Time 

The opportunities in this industry are significant and continue growing in leaps and bounds. Therefore, this is the time to invest and make sales, especially if you have a great product and you have strategized well.

The Right Price

One thing to make sure of is that you do not get caught up in price wars. Price your product according to the current market value.

Branding

Branding

Your brand should communicate your identity. There are different ways to brand your products, depending on your target market. You can make your brand aesthetic modern, upmarket, or organic, for example. Whatever style you choose, ensure that it conveys what your business is about. 

It should bring out your intention in terms of mission and vision. This should make sense to customers even if they only glance at just your logo and company name.

The first step in branding is to hire a designer to help create packaging with a professional feel. However, do not get so caught up in representing yourself to the target market that you forget to focus on the customers.

It is important to ensure that the product works for your target group so you do not misrepresent yourself and your product. Having a branding workshop with a small focus group that fits the characteristics of your target market will take care of this issue. 

Branding workshops help to build your confidence in your product, giving you the knowledge of whether it will appeal to your target market. If the products don’t have the right appeal, then the focus group will give you feedback on what you need to work on to ensure you have an easy time marketing and selling your product

Customers are the decision-makers, so make room for their opinion when branding. They make their decisions in two ways: rationally and automatically. Keep this in mind and make sure that you activate both. How people perceive your product is very important. Branding can also help to create a structure for your business and even a strategy for marketing and selling.

Marketing and Selling

The two go hand in hand. To help in marketing, ensure that you outline all the unique qualities of your products. 

As we mentioned, add labels with QR codes to your packaging so customers can read lab results for each product. It is also good to ensure your product gets certification. Certificates from the FDA, Good Manufacturing Practices, and USDA organic will assure consumers about the quality of your products.

Having done all the above, now it is time to sell. Currently, online platforms make up the greater part of all avenues for selling cannabis products. However, selling products online is very difficult since many platforms restrict the advertising of cannabis products. You need to follow the guidelines laid out by each online platform to avoid banning. 

First and foremost, establish an online presence by getting a website. Make use of Search Engine Optimization (SEO), which will help you build exposure for your products. For example, when potential customers search for cannabis products, SEO will bring your website to the top of Google’s list. SEO does this partly by using keywords. You need to be specific when choosing your keywords. For example, instead of “CBD products,” one keyword could be “quality cannabis products for beginners.”

In addition to using SEO, it is important to identify the platform with the right fit for you to do your e-commerce. There are several social networks dealing with the cannabis business that allow advertising on their platforms. Social media presence is also important. Platforms like Facebook, Twitter, and Instagram are a few that will help you create awareness of your product and may eventually translate into huge sales. Make use of social media influencers and podcasts that can also help to get the word out on your products.

For your website, research and come up with content for your customers. Help them learn more about cannabis, its products, and other affiliated topics. This creates consistency and reliability that will keep them coming and, in turn, help you make huge sales. 

For those who may need to reach out to you with questions, ensure that you have an email address through which they can contact you. You can also get in touch with them and keep them abreast of what is new on your platform.

Marketing and Selling

Loyalty Reward Programs

After selling customers your products, it is important to say thank you. Give your most consistent customers and those who buy in large quantities discounts and free products. It makes them feel appreciated, and they will keep coming back. 

If you take your products to physical stores, it is also important to appreciate the budtenders. They spend their days not just selling but also answering numerous customer questions about your products. 

Give them some branded merchandise, books, and other material that can help them catch up with what is happening in the cannabis market. Customers tend to believe that those behind the counter have better knowledge of cannabis than they do. Let your budtenders meet the expectations of the customers.

The Takeaway

Thorough, consistent research and creativity will help you ensure that your product is set apart and unique. This will help you succeed in the cannabis industry. Ensure that you are always updated on the ever-changing industry rules and regulations to avoid getting in trouble with the regulatory authorities.

For more information on cannabis products and other related topics, visit CannabisPromotions.com.