Creating a completely new and impactful brand can be very challenging even for the most experienced designers. However, when it comes to rapidly emerging sectors such as the cannabis industry, things tend to get even more challenging. Nonetheless, as with any successful brand and marketing plan, it all comes down to one defining factor, understanding your target audience.
According to a cross-sectional study of cannabidiol users, conducted by the Cannabis and Cannabinoid Research Journal, women represent 50.87% of CBD consumers. Therefore, you can understand why CBD products for the female demographic is proving to be a very lucrative and hyper-competitive business.
But what exactly do you need to know about your audience, and how do you proceed in turning your CBD business idea into a brand that women can trust?
With this post, we’re going to dive deeper into what it takes to design a trustworthy CBD brand that resonates with the female demographics, and why establishing a brand story is something that shouldn’t be left as an afterthought.
Understand your target audience
In recent years, the influence of women in the marketplace has increased dramatically as women gained more leading positions and earned higher purchasing power. Moreover, the female empowerment movement has finally forced marketers to completely rethink the way they sell to women, leaving behind the old-fashioned pink approach.
Brands aiming to properly reach and market to women today need to dig deeper into customer behaviors and understand what women expect from their CBD consumption. According to the previously mentioned study conducted by the Cannabis and Cannabinoid Research Journal, more than 60% of CBD consumers, use CBD to treat medical conditions, more specifically pain, anxiety, and depression. In certain areas such as fashion and retail, women tend to be more impulse buyers, however, when it comes to their health, they are very meticulous.
In another study conducted by Bright Fieldgroup, women are usually price sensitive. That being said, they value their health more than saving a few dollars, so they are willing to spend up to 50% more on lab-tested products.
According to research, women also tend to have a slight preference for edibles, which they choose based on flavor. Baked goods tend to be the preferred flavor for women, followed by chocolate and candies. Above all, women’s CBD purchasing decisions weight heavily on the importance of a safe experience.
Another favorite among women is CBD infused cosmetics. Often categorized as ‘topicals,’ skin care and beauty products are items such as face masks, eye serums, and CBD-infused mascara, which are often applied topically but are not generally used to treat medical conditions.
Researching the competition
When researching the competition, it is important to start with the overall image of a brand, before getting lost in the details. For example, NuLeaf Naturals is a brand that does an excellent job in connecting with and marketing to women.
If take a look at their website, you will notice that it focuses heavily on natural and organic elements, which obviously supports the name of their brand. Interestingly enough, it’s important to highlight the natural side of your products, since you are targeting consumers that prefer an alternative, organic and safe experience as mentioned above. However, NuLeaf Naturals also emphasizes the concept of wellness, a word that resonates strongly with women. Organic, premium and rigorous-lab testing are also elements that brands such as NuLeaf are likely to highlight. So, although NuLeaf Naturals’ products are more expensive than similar brands, they resonate more with the target audience by incorporating key elements that women value.
Understanding the unique value of the female demographic
Among the female demographic, brands should focus on millennial women who tend to have above average incomes. Moreover, this demographic is also more likely to consider using CBD products as part of their busy lifestyle. Millennial women are also more empowered and enjoying occasional indulging in premium products.
This leads us to the importance of creating a brand story that resonates with your intended audience…
Create a Brand Story That Captivates
Storytelling is a powerful device. For countless generations, story-telling has been used to shape how humans perceive their surroundings, and it is still being used today in perceiving the value of a brand among its customer base. For emerging companies, developing a story around their brand is one of the best ways to distinguish themselves and build trust among their target audience.
Creating a compelling story around your CBD brand can be difficult, but you’ll have a much easier time if you keep this in mind: Make it Personal – The story behind your brand tells should be humanizing; it needs to come from the heart. By injecting your personality into the account, it becomes an extension of your own core values, and it’s within that sincerity that your brand and CBD products will build trust.
Reaching potential customers is definitely a business goal, but the real long-term strategy every business should strive for is customer loyalty, and the best way to build loyalty is to create a brand story that resonates with your customers. One example of a brand value today’s customers can identify with (women in particular), is environmental sustainability. Furthermore, women have a higher need than men to feel valued, so they naturally connect with brands that tailor their brand story with these core values in mind.
Brands today should be trying harder than ever to engage with women. One of the reason is that over the past few years there has been a stark erosion of trust among female customers and brands. According to a recent study of over 2,100 women nationwide, 80% of women said they don’t trust brands anymore, and this tension has grown over time, with 42% saying they trust brands less than they did 20 years ago. No longer are women loyal without reason — they are less forgiving of brands in general. The main reason brands are not trustworthy, according to 61% of women, is that they simply don’t live up to the promises they make.
Develop Your Visual brand identity
As we already mentioned going for pink or other bright colors is no longer a safe bet in making women resonate with your brand. On the contrary, this is likely to discourage modern women from purchasing your products, as it can be perceived as a cheap marketing strategy. So, avoid a typical girly approach when creating the visual identity of your brand. Instead, focus on nature and ‘Zen’ elements that give your products a comforting, natural, and strong vibe that women can associate with.
At CannaImpact we believe that brands have the power to profoundly challenge norms and reinvent the world. The future of marketing to women is hopeful and exciting. The simple fact is, the world for women is undergoing a tidal wave of change, and it’s time to embrace building brands for strong, independent women.
CBD Brand For Women, Designed By CannaImpact
CannaImpact was recently commissioned by CiiTECH, a cannabis biotech company that focuses on discovering, developing and commercializing cannabis products for the global market, to develop an identity and packaging for HUGG a new CBD brand for millennial woman & young mothers.
By working closely with Sara Flack, CiiTECH’s Director of Brand and Marketing, we brought the vision of HUGG to life, who’s CBD products assist in reducing stress and anxiety, so women everywhere can enjoy their lives more freely.
A strong brand identity in the CBD industry can mean the difference between your company succeeding, or falling flat. The good news is that whether you succeed or fail is in your hands. Of course, CannaImpact is available to help every step of the way.
If you are a Cannabis or CBD based business that’s ready to take off, we are ready to support you in establishing your vision. We are a full-service brand and marketing agency that has helped dozens of growing Cannabis businesses tell their story and make an impact in today’s highly competitive landscape.