The rise of the digital marketing world has led to increased competition but also many new and innovative ways to connect with consumers. In a time when niche buying preferences and worldwide supply chains exist that can cater to customers far away, the range of products has proliferated with so much choice a few clicks away.
This makes the modern marketplace a fruitful ground for the innovative marketer—with a bit of online traffic and a few clever ideas companies can make a name for themselves overnight and obtain a market share that would take years to achieve in the past.
Everything from the way you advertise online to the Styrofoam peanuts you use when shipping your product can not only lower costs but help with your marketing strategy. There are more examples of innovative marketing tactics surfacing every day.
Packaging is instrumental to customer experience, and since it a blank slate for new products it offers a fantastic opportunity to find creative ways to increase revenue. Here are some ways to think about how you can use packaging to drive revenue.
Capitalizing on Trends
One of the more inventive ways to customize and target your packaging is to tap into trends and events that are occurring which would interest your customer base.
The clearest example of this is sporting events.
During the periods when the Olympics or World Cup take place, many brands get into the spirit of the events by branding their packaging to match the theme or concept of the competition. This does not need to be extensive—putting a small message wishing luck to the national team’s efforts is an easy but cheerful way to resonate with the interest of customers.
And around holiday time, packages with a festive cheer can bring your brand an extra level of appeal.
One long-term trend that is here to stay is that of environmentally aware consumers.
Recyclable packaging can resonate strongly with many consumers, and the added cost of getting high-quality but eco-friendly packaging can be worthwhile for many companies.
Leveraging Technology for Increased Revenue
Nowadays the possibilities offered by smart packaging is an effective way to increase revenue.
By placing a scannable code on a package and prompting the customer to go to your website can make the feedback and social sharing process significantly easier.
A QR, quick response, code can bring the customer to a specific page on your site and autofill data to that visit—making the customer’s search for the site quicker and more personalized than if they were to have to get to the site through a search engine.
And from the perspective of your research on customer habits, each visit from a scannable code can give you more precise data on the customer, since it shows which products were scanned. This extra data may not seem like much, but it can add a whole new dimension to your customer analytics and allow better and more precise testing and marketing analysis.
Online marketing is very congested which makes it difficult to get a good return on investment and market share, so any extra data you can get to give you an edge in your approach can lead to significant gains in revenue.
It is estimated that 90 percent of traffic for a given Google search term goes to the first page of results, so getting highly ranked for key terms is a huge benefit to your business.
Extra Packaging and Inserts
It seems like a fairly basic concept, but adding inserts to your packaging to communicate with the customer is a very popular topic among marketing professionals. Surprisingly, inserts have shown to be extremely effective, more so than more involved marketing techniques.
Something as simple as a small product catalog, a small sample of another product, or a “thank you for purchasing” note have been shown to make a significant difference.
This is one area that smaller and medium sized businesses can excel, since a personalized insert is more feasible and more genuine from a smaller company compared to a large corporation.
Of course, there are other ways to make your packaging stand out. In recent times, there have been several examples of eye-catching designs that can make the difference in the competition for the customer’s attention.
Milk bottles that look like UFOs, or Vodka bottles shaped to look like fire extinguishers are just some interesting examples from the beverage industry.
While it is easier in food and drink packaging to come up with off-the-wall designs, the same can be achieved with packaging for other types of product.
Some flair and ingenuity, as well as a clear idea of what your customers are interested in, might be all you need to come up with an inspirational new idea for packaging that has never been seen before.
The Future of Packaging
Industry research such as that of Mintel’s 2017 trend watch shows there will be substantial changes coming to the industry in the coming years.
Aside from the obvious growth of smart packaging, active packaging and intelligent packaging (such as the labeling on food cartons that illustrate how long is left before expiry), it is predicted there will be a shift back towards iconic and distinctive package structure and shape.
Doing this in a way that matches your brand could really resonate with consumers and help increase revenue.
There are several ways that packaging innovations can increase revenue. Do your research and determine what sort of packaging style can best suit your particular brand and product. Consider adjusting your operations based on the latest technology and packaging trends to remain competitive.
Overall, innovative marketing can be challenging, but for many companies today it can mean the difference between profit and loss. The need to distinguish and establish your brand to the consumer requires constant attention.
Cory Levins serves as the director of business development for Air Sea Containers, overseeing the development and implementation of ASC’s internal and external marketing program, driving revenue and profits from the Miami, Florida headquarters. Before joining Air Sea Containers, Cory Levins was the director of business development for marketing and real estate lending companies.