Life in the 21st century
Sustaining life in the modern era goes beyond the acquisition of the 3 basic requirements for survival. Nowadays, people need more than a home to live in, clothes to wear, and food to eat. Modern living is composed of lifestyle choices that encompass various secondary necessities as well as luxuries. Take a good look at your bathroom shelf, and identify all the different creams, shampoos, lotions, and soaps you use every month. Extend the scope of this existential experiment to various parts of your house, and you’ll be dumbfounded by a simple realization. Products rule our lives. They are the prime source of comfort in our constantly evolving lifestyles. Therefore, the role of product-based businesses in our society, as well as the economy, needs no explanation. Simply put, the world would come to a halt if product-based companies cease to exist.
The Cost-Cutting Epidemic
Now that we’ve established that products play a key role in sustaining our days on this planet, let’s dig deeper into how product-based companies sustain themselves. Production costs are spread over various segments ranging including direct material costs, direct labor costs, and manufacturing overhead. Furthermore, building a product does not give product-based companies the liberty to call it a day, and head back home. Built products still need to be marketed, and marketing isn’t free either. It is no rocket science that building a product requires money. Thus, cost-cutting is a necessary evil that product-based businesses need to survive. However, a professional branding and packaging agency successfully transforms your cost into an investment.
The Design Dilemma
Isn’t saving money on product packaging design the most obvious solution to the cost-cutting epidemic? Well, heck no! You must be thinking why does it matter what box a company places its product in when the product itself is excellent. Well, it does! We live in a world where the consumer has more choices than he/she/they can possibly comprehend. Walking into a supermarket is comparable to entering a jam-packed football stadium. The consumer is the athlete, and the products resting on different aisles are the virtually uncountable spectators. In such competitive environments, product-based businesses cannot run away from the effort that packaging design demands. Would you rather buy a shampoo that sits inside a shabby glass bottle with little to no information about its USP, or one with an eloquently designed package that communicates the product’s commitment to its consumers? The latter choice is the obvious one. Moreover, retailers are also warmer to products that they think will look better on their shelves.
The Numbers Game
If you’re a sucker for numbers, consider the ones laid down below:-
- 65% of first-time purchasers buy products owing to their captivating product designs.
- Half the dissatisfied customers of brands leave their allegiances behind owing to their disinclination to product packaging designs.
- 55% of repeat-business is generated due to familiar product packaging. (1)
The Multiple faces of Return on Investment
It is a statistically backed-up fact that effective product packaging design leads to more sales. However, an increased number of sales is not the only ROI that investing in packaging design offers. Here are a few additional incentives for spending company capital on design agencies:-
- In the face of the current cutthroat competition in various market settings, clever packaging design can help product-based businesses in establishing authority over their core competitors.
- An informative packaging design not only does its primary job of enticing customers, but it also lessens the number of calls made to customer care because of the inefficient deployment of product-related information.
- A packaging design composed of eco-friendly materials can help save the Earth.
In today’s marketing landscape, effective product-packaging pays for itself. In fact, it out-pays the initial investment that product-based businesses make in hiring design agencies to do the needful. In other words, a competent branding agency can easily turn product packaging costs into a worthy investment.
Original Article By Ms. Megha Malik, Co-founder, DesignerPeople