In this week’s edition, we’re taking a look at why online reviews are so important for building your brand, especially as a small business owner.
Also, Canada is facing a cannabis oversupply, which coupled with low demand, is leading to rock bottom prices. And well-known cannabis industry giant just got a license to grow cannabis with more than 0.2 percent in Europe. All that and more in this week’s CBD Business Weekly Newsletter.
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These days, online reviews from relevant sites in your industry can make or break your small business. Reviews are basically like word-of-mouth advertising in the digital age. According to a recent survey, 91 percent of consumers read online reviews and a whopping 84 percent trust them as much as personal recommendations.
Statistics likes this really illuminate the major impact reviews can have on a business, especially a smaller one with a limited advertising budget. Good reviews can help promote your brand and improve your reputation. They can convince those customers who are on the fence about trying your product to take the plunge.
Must Read Articles:
It was not so long ago concerns were mainly about shortages with the second wave of cannabis consumer products set to hit the market. However, market analyst says “pot producers built up a massive surplus of pot. In fact, only 4% of pot produced in Canada in July has been sold, which means it is selling it for cheap”…due to sluggish demand.
A prominent U.K. cannabis company, Sativa Group, has become one of only a handful in the country to secure a license to grow hemp with a THC ratio of more than 0.2%. The company already has a license to grow low-THC cannabis which was granted 18 months ago.
A successful fund-raising round by Emmac Life Sciences has seen it emerge as one of the leading lights of the booming European cannabis industry. The company says it has raised £15 million in Convertible Loan Notes (CLN) from investors in Europe, North America, Asia and Australia.
Other Trending News:
- Layoffs at Major Cannabis Industry Companies, Investors Grow Weary
- Bulk Cannabis Imports To U.K. Given The Go-Ahead
- British Public Warm To Cannabis And Legalization
- New Portuguese Growing Operation To Supply German Cannabis Market
- European Regulators Slammed Over CBD Cosmetics’ Confusion
- A Safe, High-Yield Cannabis Stock? Yes, That’s a Real Thing