Business Tips for Packaging Your Product
There are many challenges that businesses face. Statistics show that close to 90 percent of businesses never live to see their first anniversary.
One of the challenges businesses face is product packaging. Introducing a new product to the market is not a walk in the park. It requires proper planning and execution.
How you package your products speaks a lot about your brand. It will determine how the public or prospective customers will view your business as a whole.
As such, you should come up with a product packaging strategy that is beyond just attracting new customers. It should also highlight the values of your business and stand out from the rest of the products.
Try to think about what you aim your brand to communicate. Do you want it to arouse feelings of excitement from customers? Is it luxury or comfort? The ability to generate an emotional connection with an audience is vital in building customer loyalty.
Below are some of the tips for packing your products:
- Have your target audience in mind
While creating a packaging strategy for your business, it is important to know where exactly you want to sell the products. Understanding your target customers will generally determine how your packaging will look like.
It doesn’t matter whether you are planning to sell your products in stores, online or both, you must have in mind the type of customer who will purchase your products. For example, if you plan to sell your products in stores, then your packing should look attractive on shelves.
If you align your packaging with what you understand about your target populations, then you can be sure the right audience is checking out at your products.
- Material choice is important
Although most businesses don’t pay adequate attention to the type of material they use to package their products, it could be harming their sales without their knowledge. Haven’t you seen companies that boast to be Eco-friendly but largely use plastics to package their products?
Customers are always keen on the type of material you use to package your products. Most of them appreciate companies that take consideration of the environment in their packaging. They might tell you but you will notice when your sales start going down.
- Minimize wastage as much as possible
As a small business, there’s nothing as important as accounting for every penny. There are a lot of things to deal with such as insurance, inventory, salary for your workers, and so forth. You don’t want to spend money on things that are not beneficial to the business.
One of the areas you can minimize wastage and save money is the packaging. Ensure that your design team comes up with ways that encourage the proper use of packaging material.
Although great design is important, being overambitious at the beginning can hurt your business financially.
- Understand your product and production capacity
To be able to come up with an effective packaging strategy, you need to fully understand your product. You also need to work hand in hand with suppliers who have experience in handling that specific type of product.
For instance, get to know what the shelf-life of the product is. Also, find out if moisture has any effect on the product. This will help you to know what is needed to retain the appearance of the product for whatever amount of period.
- Know your competitors
Last but not least, you need to know the existing competition within your industry.
Investigate every detail on how they package and sell their products.
Knowing what your competitors are doing should help you develop a packaging strategy that’s unique and still able to attract new customers.
For instance, look at the various strategies they are using and find out how customers are responding to them. You can also check their packaging design as well as the type of materials they are using. This should give you a heads-up on what to change and retain.