Tips & Guides — 28 Sep 2020
Highs of the CBD Affiliate Marketing
The trend in the treatment of chronic pain, anxiety, seizures, neurological conditions, and stress using cannabidiol is continuously growing.
Cannabidiol (CBD) is a compound found in the hemp plant. This medical practice’s popularity is supported by the qualities of cannabidiol, which include analgesic and antibiotic effects. It’s no coincidence that the CBD market’s size has exceeded $ 2.8 billion in 2019 and is projected to grow by another 52.7% CAGR between 2020 and 2026.
Although CBD oil and other CBD products have gained widespread over the past couple of years, such business is still in a legal gray area. The most popular digital advertising platforms, primarily Google and Facebook, either have significant restrictions or don’t allow CBD content at all. Fortunately, businesses in this industry have a relatively fast and inexpensive way to generate income and make partnerships online. Yes, we are talking about CBD affiliate marketing! Learn why a lot of brands choose a partner platform to grow their business.
Essentially, CBD affiliate marketing isn’t that different from other types of affiliate marketing. It promotes your CBD brand through publisher’s websites and social media with banner ads, links, and other marketing materials. Every sale you make with this marketing strategy earns your affiliates a certain percentage of commissions.
Online sales and partnerships for CBD brands cannot be overemphasized, given the firm advertising regulations for cannabis products
Marketers are increasingly referring to affiliate marketing as partnership marketing because it effectively splits responsibility for product marketing, traffic generation, and sales across multiple stakeholders. It turns out that the marketing efforts of all parties are united by a common goal, and the profit splits into certain shares between partners. At its core, affiliate marketing involves at least three parties: advertiser, affiliate, and consumer. However, the number of participants can be wider, for example, an affiliate network can act as an intermediary between the advertiser and partners.
It’s worth noting that in CBD affiliate marketing commission payments are not necessarily tied to actual sales. While Pay-per-Sale is an undoubted way, you can also use such approaches as Pay-per-Lead and Pay-per-Click. For example, adding a consumer to the mailing list or making him install your mobile app can be considered as an effective conversion. The success of your affiliate program will directly depend on the chosen payment method, but more on that later.
So what makes affiliate marketing so strikingly different from other promotion methods? First of all, there is no need to pay for advertising in advance. The main focus of affiliate marketing is on performance. No matter how big affiliates’ commissions are, your ROI still remains positive. This approach guarantees easily calculable results and high quality of traffic, even if your program is aimed at converting leads.
As a brand, you can be heavily involved in marketing, or you can leave this part altogether to professional publishers or talented bloggers. Your benefit, in this case, is that you have an army of marketers working for you, who can follow clear instructions and materials or can achieve goals themselves in any permitted way. Still, there is one obstacle, you also need to know how to find affiliates for the best performance.
In the case of the hemp business, you can cooperate with major health media but also with bloggers and influencers. Public figures are capable not only of efficiently driving traffic, but also creating an impressive reputation for your brand. Even so, CBD affiliate marketing can accurately measure and monitor effectiveness. For example, you can see which ads perform better or worse, track the customer journey, and make corresponding changes to the affiliate program.
The affiliate program is the cornerstone of successful affiliate marketing. We described in detail how to stand out from the ocean of affiliate programs in our step-by-step guide. In this section, we’ll focus on the most important and essential steps for the CBD industry.
As you can see affiliate marketing is a natural way to grow your CBD business. By using the right tools, affiliate marketing can be turned into an easily predictable revenue stream. At the same time, you don’t need financial over-investment, and you can even try an affiliate platform for free.
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