You've got the right product and spend a lot of time and money designing a perfect one. But, the product is not attracting the audience because the packaging needs to look more professional. Is that it?
Packaging might not seem important, but when you realize it's the first thing people connect with when making a purchase, you might need to rethink it.
Besides protecting the product inside, packaging plays several vital roles, from grabbing customers' attention to connecting with them emotionally. When done correctly, the packaging is a powerful marketing tool for your brand.
Furthermore, packaging helps give customers useful information that allows them to decide whether the product is good. In addition, it helps to stand out from your competitors and attract more customers.
So, take the chance to make a first impression with an eye-catching packaging design within your budget. But first, let's roll into some depth of budgeting and packaging.
Every week a new number of products are launched in the market. But it fails to resonate with the customers because of poor branding and packaging.
Every brand's tricky question is, "how much should we invest in packaging?"
When brands talk about budget, packaging is the last critical element. For a brand, there are many things vying for the budget, from manufacturing to branding. Yet, at the same time, marketing and packaging are left until the end.
Having a small or tight budget means you can create a unique and eye-catching design, but you might need to create a toned-down version of your creative packaging design.
Remember, you should include the cost of packaging in your product pricing or shipping costs.
Thankfully, we are here to help you with three handy tips to effectively manage your budget for product packaging design.
Whether designing the box with a creative idea, eco-friendly packaging, or a luxurious unboxing experience, you must ensure it fits your brand's budget.
Here are three handy tips to help you build a budget and understand pricing for each packaging element.
As your brand starts, it is crucial to understand what kind of packaging would work with your product and brand.
The type of product decides the kind of packaging you need.
For example, if you are a cosmetic brand, opt for luxurious packaging boxes to stand out from competitors. It also depends on whether you sell in a retail store, online store, or both.
Here are a few ways that can help you out-
The transportation costs increase with the weight and space your package consumes.
Often brands save time, and the fastest way is by using standard-size packages readily available in the market—for example, a simple cardboard box with undefined dimensions at a low price.
The packaging might be too large for your product, and you must add padding or stuffing to prevent the product from getting damaged. But the thing is, the packages would consume unnecessary extra space, and you end up paying additional costs every time.
The best way to avoid it is by designing a custom package for your brand. In addition to the packaging dimensions, the order volume plays a key role in the package cost. Less order means costing will be high, and more packaging volume means less cost.
Grab the list of each component involved in your packaging and consider the cost of each as well.
Are these elements required?
Are they essential in terms of improving sales?
Are they adding anything to your branding and marketing things?
Product packaging consists of many elements, but not all add value to the item. Unfortunately, many brands spend a lot on unnecessary packaging parts that truly don't matter.
For example, If a small business or brand wants to add a flyer or a thank you note to their customer's order. It is a great way to improve customer experience, but it is an added expense in every order. Removing these elements can reduce your packaging cost.
Instead, you can print a Thank you message inside your package instead of an extra leaflet.
It can reduce packaging prices and help you in budgeting.
The kind of packaging materials you use is another important factor that can contribute to your packaging cost. If you keep on top of your packaging materials, you can avoid high packaging costs.
To save money and the environment, you can check alternative materials that can be reused and help cut your packaging costs. It also improves your brand image, and customers are already willing to pay more for sustainable packaging.
The material you decide to use for your operations and manufacturing can be the difference between spending more and saving money on your packaging costs.
Custom packaging is the best alternative to standard packaging to make a first impression on your customers. Elevating the custom dimensions, colours, labels, and other elements can cut package costs and improve the unboxing experience.
High-quality custom packaging boxes play various roles, from increasing or decreasing your packaging cost.
Custom packaging for businesses on a budget provides excellent returns on the business and the customer. In addition, custom designs can be more economical and easier to ship, reducing costs.
Instead of relying on standard packages, custom packaging design can tailor your needs and reduce additional package costs that your product might not need.
Time is money.
For instance, say your brand uses corrugated packaging boxes. Imagine employees must construct it by hand, seal it and tap it. Isn't that time-consuming?
By working with a reputable packaging supplier, you can be sure that you're getting the best possible price for your packaging needs. That extra hour required to assemble packaging boxes or put those extra fillers in your packing boxes can cost you a lot.
For eCommerce products, the longer it takes to process the packaging, the more money brands need to spend on producing it. Manual tasking like tape boxes or corrugated cardboard can take up hours of valuable time for employees and increase costs.
It's better to automate the process or use custom packages that can reduce time and save money.
To effectively budget your packaging, you need to choose the right packaging that fits your product or products perfectly.
As your business grows, the number of products increase, and the requirement for packaging grows too. But many companies must realize that packaging costs are more than just the right size. It's also about choosing the right packaging for your product.
Various packaging options are available, and the right choice for your product will depend on several factors. But if you take the time to choose the right packaging, you can save money in the long run. Here are a few things to consider when choosing to package your product:
1. The size and shape of your product.
2. The type of product you are selling.
3. The packaging material you want to use.
4. How the packaging will be used.
5. The printing and finishing you want for your packaging.
For example, you can custom design your packaging specifically per the product's shape or use larger boxes to fit several products of different shapes to save costs for shipping multiple products at the same time.
It depends upon the type of business you are running.
Brands often differentiate between one-time Vs. Recurring charges in package costs.
Fixed costs are those that your manufacturer incurs, irrespective of whether you order a small or large volume of packages. These include machinery setup costs, printing plates, mound costs, and rent prices.
For example, you might have to shell out for a custom package die or printing plate. These are one-time and more cost-effective as you use them.
Remember, the one-time cost becomes cost-effective as the number of units produced increases.
On the other hand, variable costs depend on the production output. Therefore, small order means smaller variable costs and vice versa. There are some recurring costs that you need to pay, like materials, production wages, shipping costs, lamination costs, and more.
Remember, the recurring cost increases as the number of units increases.
Fixed and Variable costs together make up the total cost of packaging.
An idea of your packaging budget and other costs allows you to decide what is required for your product packaging, marketing, and branding.
On the other hand, a customized packaging solution is a great idea to design as per your needs and budget. Look at different cost-effective methods and ensure adequate resources are involved in enhancing quality and productivity.
You can work with Bizongo to design affordable and quality packaging solution for your product that is unique from your competitors and resonates with your brand image.
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