Description

In this episode, Joel speaks to the co-founder of CBPLUS, Hayley Bromely. She has spent many years working in the alcohol trade. Mainly selling wholesale wine and gin. Today, she and Tim, the other co-founder, are working to create high-quality CBD enhanced products.

A process that has led to them uncovering several new markets. Hayley explains the approach they have used to decide which opportunities to focus on. As well as the marketing techniques they are using, how they are handling cash flow and educating consumers to dispel the many myths that surround CBD.

KEY TAKEAWAYS

• The CBD category is still not well understood. Consumers are not sure about it, so education is a big part of CBPLUS´s marketing strategy.
• Focusing on the type of consumer and the different issues they can use CBD for is proving to be an effective approach.
• Deciding which type of consumer to target first and which product to launch first was complex. Hayley explains the thought process behind how they do it.
• Cashflow is a huge challenge, but one CBPLUS has been able to successfully manage.
• Selling online first is the fastest and easiest way to launch a brand fast.
• Because CBD is a new product, it is not yet clear what consumers are looking for. Hayley explains how they handle that lack of data.
• In some countries, the sale of THC products is already legal, which creates the potential for that to happen elsewhere.

BEST MOMENTS

‘With CBD massage oil… my muscle soreness is almost non-existent. ´

‘There´s not a one size fits all product…it´s about category segmentation.’

‘We are definitely looking ahead at what the range would look like (if THC was legalised).’

EPISODE RESOURCES

CBPLUS website - https://cbplus.co.uk/

VALUABLE RESOURCES

Stay Hungry podcast series

Stay Hungry Bestselling Book

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ABOUT THE HOSTS

Joel Stone

Joel started his working life as a graphics designer

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