LOS ANGELES – Digital advertising platform FieldTest has launched a new business division to serve the CBD industry. BDS Analytics and Arcview Market Research project that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024. As brands fight for market share, the industry will require scalable and predictable channels to market their products. FieldTest, the largest single source of first-party CBD consumer data, has launched a CBD division to help companies reach new customers through online publishers using its proprietary marketing tools.
According to FieldTest founder Gibby Miller, “We created this division based on a need rather than a want. CBD brands are largely blocked from spending money on social media advertising due to subjective policies, so they’re coming to us for advice on how to effectively and responsibly get exposure for their brands.”
Meredith Schroeder and Ashley Lewis left Goop to start Los Angeles-based Fleur Marché which has been dubbed “the Sephora of CBD” by Fast Company. Schroeder notes, “We were excited to partner with FieldTest whose unique approach to digital advertising in the CBD space delivers a key marketing service that is not easy for cannabis brands to find.” FieldTest’s approach focuses on top tier lifestyle and consumer media rather than traditional cannabis publishers as a way to reach more vertical audiences that will fill a company’s sales funnel.
“CBD brands are left with few options for digital ads,” said Miller, “It was important that we create a program to help them reach new consumers with little previous knowledge of CBD and expose them to these new products.”
FieldTest, founded in 2014, has long been the go-to platform for DTC brands focused on data-driven digital marketing. They took the unique approach of reaching out to their vast network of top tier media to create a trusted relationship for CBD advertising. “We give our clients peace of mind as we’ve worked with our inventory partners to gain explicit permission for CBD ads,” according to Miller. The company’s expertise in the health and beauty space was a natural transition to a direct-to-consumer product like CBD.
CBD clients can choose between a self service or white glove approach to digital advertising, both offering access to the company’s platform targeting and analytics that have proven success in reaching target audiences that generate sales. FieldTest has worked with a range of industries from major league sports teams, direct-to-consumer products, luxury real estate developers, and regulated markets like cannabis and pharmaceuticals.