Leading companies recognise the value of packaging, as it will not only keep their products protected, safe, and fresh, but it’s also an essential part of their branding and marketing strategies. Just look at the sheer number of companies opting for carbon labeling!
Your packaging is the mark you leave behind, and it can draw in today’s customers better than outdated sales and advertising strategies.
The thing is that it’s so easy to take a product packaging pitch lightly, even if that really shouldn’t be the case! This endeavour is just as important as pitching your idea, product, or service to your investors.
Don’t know where to start? Here are things you should include and exclude in your product packaging pitch:
What to include
Uniqueness. Always create truly new and creative packaging, product concepts, or brand presentations. Ensure that everything you do wows your audience.
Choose an underserved market segment. You can also lead a rising consumer trend. What’s important is that you shouldn’t be scared to focus heavily on a single product or product packaging concept.
If the idea is sound, it can be developed into a more comprehensive approach. Strike a balance between standing out from the competition and continuing to be relevant to your current customers’ lives.
An engaging story. Like you, your competitors have already come up with fresh concepts for product packaging and have presented them to retailers. Some have achieved success, while others have failed primarily as a result of the story they presented.
Create a unique and engaging narrative to describe your product packaging if you want your pitch to be well-received. To guarantee that you grab and hold the attention of the retailers, this should be kept brief, clear, and to the point.
Package value. As much as possible, don’t try to compete on the price of your packaging alone. Make sure that it is functional, easy to open, enjoyable to use, or has a long lifespan.
Add value to your boxes and cartons by experimenting with underutilised paperboard design elements like fifth panels, flaps, special cuts, surprise interior panels, and engaging sustainability.
ROI Projections. Make the case for a quick ROI turnaround by researching the bottom line. Offer projected diagnostics for potential sales volumes and profit margins.
Focus on the expected direct product profitability for who you’re pitching to rather than potential secondary or tertiary profits.
You must find a good middle ground between what’s best for customers and what’s best for the retailer by doing consumer research. Know how your product or package will match the retailer’s goods and packaging, as well as that of private-label rivals.
Visual aids. If you don’t have production packages yet, you can show high-quality prototypes. Visually depict the market requirement that has not yet been satisfied.
To demonstrate the package in different shop settings and with various optimal SKU sets, use virtual prototyping. Describe how the package might have a visual impact to breathe new life into a stale category.
Build a foundation for a broader category by expanding use occasions, crossing categories, or widening the demographics of a category’s client base.
What not to include
Too many words. Let’s face it, nobody likes reading long blocks of text!
It takes a long time, is dull, and hardly ever keeps your interest for more than a few minutes. So prioritize quality over quantity when preparing retailer presentations and pitch decks.
You’re not trying to write a novel; rather, your goal is to convey important information in an engaging way. So, the next time you’re creating a pitch deck or presentation, keep it straightforward and focus on the key ideas.
Low-quality images or videos. As you put your pitch together, consider each element as a chance to make a positive first impression on retailers. This means that you should never use low-quality photos or videos, especially those of your prototypes or packaging!
Haphazard work like this tells retailers that you’re not willing to make the extra effort to do a great job.
It’s off-putting and can hurt your chances of building rapport. So use only polished, high-resolution photos and videos. This will show retailers that you take your business seriously and are able to put together a top-notch presentation.
Complex language or jargon. Avoid the temptation to utilize technical terminology or industry jargon when creating your pitch. Instead, concentrate on developing a presentation that is clear, concise, and easily understandable. So describe your company and product in plain, simple terms.
Confidential information. A strong pitch outlines your company’s portfolio, clarifies your business strategy, and exemplifies your team’s capacity for action.
You should always err on the side of caution and refrain from disclosing any private information. A pitch is not the right time or location to go into specifics about your company.
Retailers can decide whether or not to proceed without seeing any confidential information. If you ultimately decide to discuss confidential information with retailers, you can do so later on, ideally in person or with legal counsel present.
Final words
When pitching a fresh and creative product packaging concept to retailers, you have to be highly knowledgeable of the different market options and opportunities out there and how you’ll set yourself apart. By doing this, you’ll ensure that your pitch has been noticed and taken into consideration.
Consider carefully what the retailer wants from their packaging, then work to give it to them.