If you’re running an independent business like an Etsy shop or other online store, product branding may not seem like something you have to worry about. However, the reality is that branding is an important part of any small business’s marketing strategy.
Here’s a closer look at why product branding matters, along with how custom packaging can help you establish and maintain a strong brand identity.
What Is Product Branding?
Branding refers to the elements that help customers identify and differentiate your products from the rest. A subset of branding, product branding refers to applying branding strategies to a specific item or product. Product branding uses symbols, logos, names, design elements (such as packaging), messaging, and descriptions to connect with consumers and create an instantly recognizable product identity.
If you think of the products you know best, product branding has played a role in your familiarity with them. Some companies that do product branding really well include Coca-Cola, Nike, Apple, Starbucks, Ikea, and Target.
While these are all “big names,” businesses of all sizes can utilize the same strategies to grow.
The Benefits of Product Branding for Small Businesses
Consistent product branding comes with many benefits, including the following:
Recognition
When you create a recognizable and familiar product brand, you achieve a level of public awareness in which your products essentially market themselves. This means you can spend less time and money on marketing and more time investing in other areas.
Preference & Loyalty
When customers choose between a product with a strong brand and one they don’t know (or don’t know well), they’re much more likely to select the one they recognize.
Market Extension
On a similar note, one successful product brand can strengthen subsequent efforts. If you’re launching a new product, your previous product branding will carry over. People will trust you more easily — even with new products in new markets.
Barrier to Competition
Just as product branding strengthens your own positioning, it weakens your competition’s positioning. The stronger your product branding is, the harder your competitors will have to work to enter the market. Successful product branding even means that customers are willing to pay more for your products over more affordable ones — just because of the trust and familiarity you’ve built.
How To Use Product Branding
If you want to get the most of your product branding, you’ll need to put some research and thought into the process. Some questions to ask:
- What is the purpose of your product? What problem does it solve, and/or what wants and needs does it satisfy?
- Who is your target audience? Understanding who will buy your product is essential to creating a comprehensive branding strategy, including product branding, that will appeal to them.
- What core beliefs does your product represent? Today’s conscientious consumers buy much more than products and services; they’re also purchasing the values your business stands for. Product branding is a quick way to communicate this.
- Who’s your competition? Your products don’t exist in a vacuum. They live in a competitive market. Understanding what your competitors are doing is essential to chart your own course forward. You don’t have to (and shouldn’t) copy them; in fact, you could do the exact opposite of what they’re doing. An equally important question: What aren’t they doing that you could be doing to stand out?
The Role of Packaging in Product Branding
While many elements are involved in product branding, packaging is front and center — literally and figuratively. The first thing customers see when they interact with your product is its packaging. Packaging also serves many functions, including preserving, protecting, informing, and promoting. All of these things bolster your product brand.
One example of product branding done right? Loot Crate. Loot Crate’s subscription boxes feature a sleek, branded black exterior with a design printed on the interior that matches the theme of the box’s contents. These boxes make a strong brand statement on the outside while offering a delightful unboxing experience through the themed interior.
Product branding is vital to establishing your brand identity, boosting sales, and building consumer recognition, trust, and loyalty. If you’re looking to harness its power for your small business, custom packaging can be a game-changer.
That’s where custom shipping boxes from DIYPack come in. From helping you design the perfect custom product packaging to walking you through product branding details like creating a mailer box or retail display box, we can help.
To start leveraging the potential of product branding for your small business, design your own custom packaging with DIYPack today.
