Refreshing your packaging is an investment in both time and resources, and in many cases,
it’s a necessary step to build visibility and credibility for your brand / product.
Your product packaging is a vital part of your marketing strategy and is the core of your branding; it’s shopper’s first impression of your brand before even trying your product, and if one thing’s for sure, first impressions count. According to a study by McKinsey & Company, “up to 40 percent of shoppers change their minds because of something they see, learn or do [in-store]—say packaging, placement or interactions with salespeople.” Your packaging has the power to literally make or break your product.
Refreshing—or completely redesigning—your packaging can have a positive influence on your ROI, such as opening up discussions with new markets, new customers and new distribution channels. It can also help resolve a multitude of issues ranging from unclear messaging, lack of visibility on-shelf to product category confusion. According to a Nielsen CPG Innovation Report:
“The return on investment (for package redesign) is far greater than
that of advertising and promotion. And the gain is long-lasting.”
We also know that consumers are paying more attention to design than ever before. Historically, it has been proven that there is a direct correlation between design spend and market share. According to the OgilvyAction study, “this means that the in-store environment is highly lucrative to attract shoppers when they are in-store and ready to spend, but if it’s too hard to find what they’re looking for, many shoppers will simply walk away.”
The best examples of great package design are the result of a successful collaboration between the brand, their design agency, marketing team and their supply chain team. It’s imperative to find the right designer who will be sensitive to your brand, understands package design and knows how to accurately communicate important aspects about your brand / product.
Are you unsure if now is the right time for a packaging refresh / redesign? Here are some things
to consider:
1. Brand Changes: There have been major changes to your brand such as a name change, new logo or new positioning.
2. Recognition: Your goal is to more strongly establish your brand and make it instantly recognizable among other brands in your category.
3. Competition: You want to compete in a highly competitive space—such as the natural foods market—by being more distinctive and visible on-shelf.
4. Sales: You want to increase market share.
5. Improve Messaging: Your messaging could use an overhaul; you need packaging that clearly communicates your brand story and promise as well as your product’s unique selling attributes and benefits.
6. Customer Engagement: You’d like better engagement with customers. Does your packaging make customers fall in love with your product? Does it clearly articulate your brand story and your product’s purpose?
7. Growth: You’ve added to your line of products and your packaging doesn’t easily differentiate among the SKUs.
Still unsure if new packaging is right for you?
Elements is here to help! Just give us a call at 203 776 1323 to schedule a consultation
and we’ll help make sure your brand / product is on the right track for 2018!
