As the current market scenario becomes rife with competition, brands need to go an extra mile to stand apart from its rivals. Whether you are selling food products, automobiles, computers, high-fashion garments or any other product that you can think of, being visible to the customer is a challenge. It is important to build a result-oriented marketing strategy to get a winning advantage. Product packaging is one of the key elements of the strategy that most brand marketers typically use in the present times. As the name suggests, it refers to the packaging of the product to make it appealing for the potential buyer. Since it is one thing that forms the first impression on the buyer, it deserves as much attention as the product itself. No wonder, brands are coming to terms with the fact that product packaging is a necessary investment. Let us check some reasons that make this investment a worthy one for businesses:
- Draws attention and creates interest of the buyer
First things first, customers tend to judge a product from the way it appears on the outside. This fact applies to both online and in-store selling. This is the reason that package design plays a vital role for e-commerce and physical retail. Product packaging should be ideally designed to narrate a story about the product, its uses, the raw materials that have been used to make it and it’s pricing. All in all, a package that says a lot about the product is most likely to draw their attention and create interest of the buyer. Here, it becomes essential for the design to be creative too so that the user is enticed to explore the product as their first choice amongst the available options. The most important aspect of selling is to make the potential customer choose the product as even the best quality products may not do well unless they get attention.
- Builds the brand identity
Another reason that packaging is regarded as a worthy investment is that it strengthens the brand identity and makes it recognizable for the existing and potential customers. The design of the package usually becomes the brand hallmark if presented and propagated appropriately. It is, therefore, extremely important for the design to replicate the original brand colors and logo so that the customers are able to associate the product with the brand right at the first glance. Easy recognition ensures brand loyalty which means that the buyer will return to the brand again and again.
- Increases the business value
Product packaging is a long-term investment for the business as a professional design lives as long as the brand does. The Return on Investment of this strategy is considerably high and yields effective benefits over an extended time span. It facilitates a strong positioning for the brand in the market, which increases the business value manifold. A brand that has high business value is capable of sustaining and performing far better than competitors that have comparatively inferior business value.
- Boosts the profits of the business
Packaging is a one-time investment that generates profits for the brand throughout its lifetime. By enabling the business to attract new customers, retain existing ones and strengthen its brand identity, product packaging raises the business profits to a significant extent. An eye-catching package design gives your product an excellent shelf value and improves its chances for being picked in-store as well as online. Shoppers tend to relate with products that appear consistent everywhere, which translates into higher sales and increased profits for the business.
- Makes the business stand apart
A distinctive brand packaging makes a business stand apart from its competitors in the market. It is imperative for every product to have several alternatives of relatively same quality. The secret to success is not in improving the product quality but in having a consistent image that has a repeat value for the buyers. This is where a creatively designed and unique package can help a brand.
The power of product packaging is immense and this article explains it pretty well. However significant it may be, the strategy will get desired success only if used in combination with high quality standards of the product itself. A business, therefore, needs to realize that it cannot put all the money on the outer appearance of its products and ignore the actual quality. Packaging and product quality are the two business strategies that go hand in hand and will yield business growth only when used together.