In an earlier blog, we outlined the importance of having the right label for your product to help curate profits and the importance of the unboxing experience for clients. You can find the blog by clicking here, if you missed it. Regardless of the industry your business is in, your product label serves as a powerful marketing message that can improve your bottom line. Custom labels, in particular, provide the freedom to manage your marketing message based on your competition elements and clients. In this blog, we’re going to outline five tips to make your product move.
1) Make Your Label Stand Out
Whether your product is displayed on a shelf or promoted online, you can gain an advantage by making your label ‘pop’ compared to other similar products. This will help draw more attention to your product and break the first barrier of sales, which is being discovered. Labels serve as a vital component for your profits, as approximately ⅓ of all purchase decisions are made based on the package.
Considerations for you label can include graphics, colours, designs, typography, font & messaging.
2) Add Promotions & Urgency
Depending on the regulations your labels need to stay within, your label may not have enough space to accommodate all the marketing messages you would like them to. However, you can decide to make the best use of the space by providing another incentive for your product on the label itself. This can include promotions or coupons for their next purchase, or volume of purchases, helping you start customer loyalty or reward programs. You can also add in urgency by providing expiration days for the promotion. However, this will heavily rely on the life cycle of your product.
3) Keep the Quality
Your product may have quite an adventure before it even gets to clients. This is why quality labels can make a big difference. Through scuffing, weather, heat, light, and much more, you want to ensure that your label does not diminish on its quality by the time it reaches the consumer. An appealing product and label are always good for business.
4) Pareto Principle of 80/20
The Law of Vital Few states that 80% of results can be attributed to 20% of the cause. In other words, it may be possible that 80% of your revenue can be attributed to 20% of your best selling product. If you are unable to redesign all your inventory or products, then at the very least, focus on the 20% that are your best sellers.
5) A/B Testing
You may not have the winning formula right away, however, doing a test on your labels with your clientele will help you narrow down specifics as to which label resonate with them more, and helps boost sales. Remember, if you do perform an A/B test, you will need to change only one element at a time (such as just changing the colour, or only the font, etc.). This will help you understand which particular change helped elevate, or decrease, sales.
Your label can be a key part of your profit strategy, and it is also important to emphasize hiring a reputable label manufacturer, as you don’t want a low-quality outcome to wash away your efforts. Check out some of the industries we serve and how our services can help you increase your business’s profits by clicking here.