The cannabis industry is highly competitive. Lots of CBD brands, both big and small, are struggling to have a place in the CBD industry. Now, when CBD has gone mainstream in the country, it’s more critical than ever to properly market your CBD products by overcoming the challenges associated with selling CBD. The CBD market is forecast to account for $23.7 billion by 2023.
Selling CBD: CBD Industry
Since CBD businesses are tabbed as high risk, it can be rather challenging to find merchant services, including merchant accounts, when selling CBD. Companies involved with CBD product selling or even associated with them are still risking losing reputation. One of the widespread issues is that these companies can put themselves at the risk of chargebacks.
Before starting selling CBD, CBD oil, and alternative products, make sure to study the market to well understand the rules behind marketing CBD products. Otherwise, you won’t be able to align your business with statewide laws.
When it comes to CBD merchant services, take the time to find a reputable high risk provider that can provide you with the most reliable and cheapest high risk merchant account in the space. Work with a true payment expert that specializes in the high risk field and knows all the nuances associated with high risk business processing.
Marketing Your CBD Products: High Risk Merchant Account
Let’s see how you can overcome the challenges regarding selling CBD products in the U.S? Here’s what you need to know about some of the basic cases:
- As a small-to-medium CBD business owner, consider finding a merchant account devoid of monthly fees or fluctuating pricing. Also, make sure you won’t be obliged to open an offshore account.
- As you may have heard, Google Ads for CBD products aren’t allowed if the CBD oil is derived from cannabis. They’re allowed for those cases when CBD is derived from hemp. So, it’s crucial to be particular about mentioning CBD’s health benefits.
- The demand for cannabis-containing products is soaring. This is putting pressure on businesses: they need to be well aware of the complex regulations regarding the industry. Bear in mind that the cannabinoid’s legal status depends not only on federal law but also on your state.
To launch a CBD business and take it to the next level, you need to well understand the market. Moreover, you need to properly and legally market and sell your CBD products. Also, you should work with a high risk expert in payments to get approved for the best-suited merchant account for your business.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.