There is an art in developing new ways to package your products and services so that the age-old question our customers constantly ask us – “What does it cost?” – is removed from their decision making process.
The companies that package and market their products differently have a real advantage, and are significantly more profitable than their competitors. The art of differentiation is essential for all businesses.
How do you create the difference?
Step 1
Think of your product or service in terms of the problems it solves or the benefits it renders, rather than simply listing its features.
Step 2
Surround your base product or service with additional benefits. McDonald’s does a great job of creating a greater perception of value by surrounding their base products with additional features, such as with their value meals and happy meals. Profitability comes from the ability to use up-selling, suggestive selling, and packaging.
Step 3
Put a value on the package. Make an assessment of the real value it offers your customer, and then test it.
Step 4
Tell your customer. We find many businesses package every day, but don’t actually tell their customers because they talk about the products rather than the additional value the package provides them.
Is your business currently packaging for more punch and profit?
Robert S. Olszewski is a director with Kreischer Miller and a specialist for the Center for Private Company Excellence. Contact him at Email.
Have you experienced success by packaging your products or services differently? Share in the comments.
