From Seed to Sale: Growing a Startup Wellness Business Through Social Media Marketing

The purpose of this thesis was to analyze the social media marketing strategies of Goldvana, a recently launched startup who provides a nanotech-enhanced CBD brand, analyze the survey data from over 930 respondents, and make recommendations for Goldvana to improve its social media marketing strategy going forward. After overviewing the science and efficacy of CBD, its legal background, industry trends, and best practices, this thesis will review Goldvana’s offerings, differentiation, and previous social media strategies. Then, this thesis analyzes the data of a qualtrics survey sent to 933 respondents. Among the most interesting trends found were consumers’ heavy prioritization of the credibility of CBD brands, the suggested benefits that consumers were most strongly influenced by (stress relief, pain relief, headache relief), the strong preference of Instagram as a platform to engage with brands on, and significant correlations between CBD use and which benefits of CBD (as well as unique benefits of Goldvana) that consumers consider in their purchasing decision. After analyzing the primary data, industry trends, and best practices, I make three categories of recommendations for Goldvana to revamp its current social media marketing strategy. These recommendations include new tactics for our content strategy, insight on how rebranding may benefit Goldvana, and ideas to install advertisement campaigns that are compliant with the guidelines of both social media platforms and the FDA.