5 Reasons Why Verifying Your Customer is Important in the CBD Industry

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The CBD industry is growing at a nearly exponential rate. Experts estimate that the industry will be worth $20 billion by 2024, which is twice what it is now. So how can you, a CBD wholesaler, stay on top of the rapidly growing demand for CBD gummies, tinctures, and other CBD products? You can start by verifying your customers.

1. Knowing Your Customers


Understanding your customers is integral to the success of any industry, and verifying customers helps you get to know them better. Are they in the military? Do they have a college email address? Is this their first business venture? Were they one of the first people to hop on the cannabidiol train? All of these considerations may change how you interact with them. Verifying your customer ensures that your CBD wholesale products go to exactly the right place. It also helps you be sure that you gave your customer the best possible deal for both of you. Increase customer satisfaction by getting to know them through official verification.

2. Optimizing Customer Experience


Customer service is a key brand differentiator. It’s true that it adds a special touch to match your customer with a live agent for their needs, but it’s also important to increase efficiency. Sometimes customers have needs that don’t require person-to-person communication. In fact, they may end up in an hour-long queue, and what businessperson has that kind of time to waste? Set up an interactive voice response (IVR) system that includes customer verification to log in. Perhaps your customer needs to pay a bill or check the status of an order. IVR is a self-service technology that connects customers to a contact center so they can solve basic inquiries on their own. Having an IVR system in place optimizes the chain of communication and places your company another step ahead of the competition.

3. Building Trust


Customers feel more secure when they know that you took the steps to verify them. As a CBD wholesaler, you have the opportunity to be more transparent and therefore more trustworthy than your competitors. Many companies in the CBD market make unverified claims that aren’t FDA-approved. Be the CBD wholesaler that’s different. Disclose certificates of analysis to ensure your wholesale CBD products are of the highest quality. Educate your clients so that they know your wholesale CBD is not only the best CBD product but also the best deal. Customer verification takes this trust-building one step further by preventing fraud and protecting consumer privacy. If you require them to verify themselves, then their business feels more protected.

4. Identity Marketing


Knowing your customer allows you to personalize your marketing strategy. Personalizing your marketing and offers can convince the customer that your company is the right match for them. Additionally, it motivates them to act because they feel valued for exactly who they are. Many customers say that an exclusive offer would increase the likelihood that they would purchase a product. If you get to know your customer enough to personalize an offer for them, suddenly you’ll be selling more CBD products than ever before, whether that means high-quality tinctures, oils, gummies, or soft gels. Customer verification is a critical link between the consumer and your marketing strategy.

5. Reputation Protection


People talk. If one consumer takes advantage of a personalized offer that’s meant for a different group of people, then that offer loses efficacy. In addition, such a transaction brings the company’s privacy practices into question. The last thing your company needs is to develop a reputation that it’s easy to take advantage of you. Identity verification sets up respect from the first greeting to every e-mail thereafter. Develop a reputation for protecting the privacy and earning respect because that’s what the wholesale CBD industry needs.