Packaging is the third biggest industry in the United States. It's estimated there are approximately 350 billion different types of packages in existence today.
If you have a business that sells a product, you probably understand (somewhat, at least) how important the packaging you use is. By investing in the creation of high-quality packaging, you can supercharge your business and propel your business to an all new level.
However, not everyone understands the importance of great packaging. If you aren't aware of the importance of package design, then you are in the right place.
Here you can learn more about the impact and benefits of good packaging designs and how it can be beneficial for your business.
1. First Impressions Matter
The package you put your product in is often the first impression a potential customer has of your brand, product, and business as a whole.
In fact, for many consumer products, the package design is the most effective communicator of the core identity of a brand. That's why having a great packaging design is so important to your product's success.
Additionally, your product is constantly competing for attention on retail store shelves, as well as in online stores. With this in mind, you can better understand the importance of an innovative package design.
According to the majority of branding experts, it's smart to change your packaging every three years (or so). If your competitors have recently launched a successful redesign, it may be time for you to as well.
Keep in mind, if you are a small business, or start-up company, the costs can be high to do this. However, it doesn't mean you need to wait to make this investment.
A smart option may be to learn about various business loan options. This can help you get the great packaging you need.
2. Product Protection
Another reason to invest time and money into creating the best product packaging is to protect your product. While this may not be as important if you are selling in a brick and mortar location, if you sell online, it's a factor you can't ignore.
The fact is, the shipment process can cause quite a bit of damage in some cases. You need product packaging that can withstand this type of "abuse."
Not convinced that special packaging is needed to withstand the shipping process? If not, learn more about the potential issues here.
3. Great Packaging Helps to Grow Your Business
Is your company in a period of growth or change? Are you trying to find ways to expand your reach or even move in an entirely new direction?
If so, you may be able to leverage the packaging you use to help you with this. Alterations in your packaging aren't unusual if your line is moving into a different market or making branding adjustments.
In many cases, redesigning your product's package is the perfect way to introduce this change.
4. It's a Great Investment for Your Overall Business Value
In the long run, a professional packaging design will pay off in several ways. In fact, there have been some studies that have shown that when you invest in in-store advertising (i.e. product packaging), there's an ROI of $7.21 for each dollar you spend.
This represents an investment that provides immediate improvement for your business, and even larger returns in the future.
5. Increase Your Profits
One of the most appealing reasons to consider developing new product packaging is that it can help improve your overall profit.
The fact is, a well-designed, innovative package can add quite a bit of power to your shelf presence. It can help you stand out in the market and establishes a recognizable identity. This can encourage brand loyalty, as long as your product quality is able to follow through on the package's promise.
Investing in a professional brand appearance and design for your product packaging creates great brand recognition. If your product is able to satisfy and please consumers, you will have customers coming back - time and time again.
6. Helps to Develop Your Brand Identity
Just like your packaging is responsible for the initial opinion customers have of your product, the design should reflect your overall brand identity. You need to ensure the design is an accurate representation of your brand.
By doing this, you will make it easier for consumers to identify your products in the future. This can also help to create greater customer loyalty.
For example, if you have a luxury brand, you would likely choose packaging that exudes elegance and class. In some cases, neutral metallic colors can help you do just that. If you have a product or brand that's all about encouraging forward thinkers, then the packaging needs to reflect that.
Any established brand fully understands that shoppers often identify with the products they already know. This relation influences them to invest in one item over another.
As a result, when a brand changes its packaging, a customer's brand perception is also likely to change. In some cases, the change can delay purchases until the association the customer previously had is reestablished.
What Does Your Package Say?
As you can see, there are more than a few reasons to invest in great packaging. It offers a wide array of invaluable benefits and can help ensure your product is chosen over the competition.
If you don't currently have a great packaging design in place, then it may be time to make a change. Investing in a new design can help you reach more customers and build brand loyalty.
If you are working to build your business, find quality package designers or just searching for a new job in the packaging industry, be sure to check out our blog for ideas, resources and tips to help you along the way.