Here are the final five superpowers of packaging:
6- The Power to Confuse
Foreseeably, producers try to sell their most expensive products first, since they are probably the ones with the highest profit margin, but seldom does the highest price find buyers. In response, manufacturers will create less expensive options, indeed in a different packaging or container for hiding some features and highlighting others.
If money is not a problem for your client, they will surely go for the most expensive product, since for them price usually does the talking and assures them they are getting the best product.
However, for a client with less money, an experienced marketer knows how to offer lower price possibilities in different packaging.
This is a widespread practice in the consumer electronics segment that is now spreading to other categories. Just try; can you understand the difference that justifies the price change with ease in every product?
Tip: If you manage to develop multiple containers for quite similar products, with small changes, you will create something for each budget, and retain buyers.
7- The Power of being Iconic
Great product packaging has the power to make a brand iconic.
Famous iconic packaging, such as Tiffany & Co.’s aqua colored box, the triangular containers of Toblerone chocolates, or the minimalist look and feel of Apple packaging are just a few examples of this tremendous power of potentially making product packaging immensely more recognizable than even the product itself!
Tip: Pay attention to the iconic packaging in your category –if any- and attempt to bridge the gap.
8- The Power of being a Storyteller
Great product packaging is able to tell the story of the product: it shares its purpose and what makes it unique.
By conveying a story through packaging, a product can feel more approachable and relatable, instantly building brand loyalty and intensifying the customer experience.
Tip: Invest time in brainstorming ideas about what you want your product packaging to tell your audience, making the concept emerge.
9- The Power to Protect
The principal purpose of product packaging is to preserve the product from damage.
Product packaging not only protects the product during the transportation from the producer to the retailer, but it also restricts damage while the product is displayed on retail shelves. Product packaging should be attention-grabbing, memorable, and protective for the product if it wants to succeed.
10- The Power to Innovate
Some products can only evolve through their container.
A great example is the classic Coca-Cola, whose secret formula remains faithful over the years, but whose magic skin adapts to the new times and the diversity of demand. Custom packaging, promotions, different sizes and materials, and even a container with only 100 calories of beverage are just a few examples of Coca-Cola’s genius shape-shifting packaging success.
Cobranding is another way to surprise the consumer with packaging innovation.
The longstanding tradition of ‘Made in Italy’ brands working together with co-branding strategies boosts Italy’s identification with luxury goods and simultaneously improves the product’s performance at the point of sale.
Tip: It is not too early to start exploring the opportunities of the Internet of Things (IoT) to innovate through connected packaging concepts.
This innovation that brings Big Data Connectivity to consumer packages, as well as in-store displays, may transform retail by connecting it to the cloud and providing real-time information for consumers, brands, suppliers, and retailers far beyond the actual RFID (radio frequency identification) or QR codes.
Effective product packaging pays the investment with more (ROI). It is time for SMBs to take advantage of the Powers of the Packaging and compete in the big leagues, challenging global companies for success!
Product packaging is as important as the product itself!
Published in Latin Business Today