Markets are a great opportunity for vendors. Whether you are trying out a new idea, or you have an established business and are looking to build on your brand, CoLab Market is for you! Markets are a unique way to engage directly with your customers and let them know about what you offer. You might not make every sale, but by letting someone know about the products and services you offer, you are building your customer base and growing your business.
In order to set yourself up for success, we have put together tips on how you can make the best out of your market experience.
When deciding on how to package your product, it’s important to think about both practicality and marketing. Think about the expectation that customers may have of your product, and try to create packaging that aligns with this. While creating a product package, it can be helpful to think about this from a customer’s perspective.
Whenever in doubt, the best thing you can do is put yourself in the position of the customer - what would you want if you were a customer buying your product?
Practicality:
Keep in mind how packaging will work regarding functionality and ease. The label of the product should also be clear and legible so that a person can know the product’s name and brand with just one look.
Have some packaging options available, if you can, to accommodate various customer needs. Make it easy for the customer to carry and use your product. Note that a bag with a handle is generally easier and more accessible. Also consider packaging options if you’re selling items that may require special transportation, such as fragile items.
Marketing:
Your product should stand out! Great labels will help to increase brand exposure, desirability, and ultimately will help you sell more products. Use your brand assets such as your colours, fonts and logo. Think about how your product might stand out from others on a shelf. It should be clearly recognisable from other competing products.
Use your labels to make a connection with your customers; tell buyers something about you and your business. Add your company name and information as well as social media handles so that customers will know where to find you after the market. People might be gifting your products. By including business information on your packaging or label, people will know how to find you.
Requirements:
Keeping the product safe and usable should be a main purpose of packaging. No one will buy the most beautiful and creative package if it cannot keep its content safe. There are some requirements that you will need to consider while deciding on your packaging. It is important to research any regulatory requirements your product packaging might have. For example, food products may require production date, ingredient list, product weight, etc. on the label. If you offer pre-packaged food products, they will need a label according to the Government of Canada. You can find that here.
Cost:
Be mindful of your costs. When pricing your product (check out How to Price Your Product), keep in mind that the cost of packaging should be incorporated into the cost of the products.
Clever packaging draws the eye and can increase your sales. At the same time, you need to be sure that the price of the package doesn’t push your product into a price range a customer won’t accept. It is important to find that balance. As a general note, keep it simple and less is more.
Be creative when designing your packaging but beware of the consequences of overdoing it.
Fun:
Now that you’ve taken care of the required items, have some fun! There’s no rule that keeps you from being humorous with your customers. You don’t have to keep your product package and labels straightforward. You can introduce some humour to your product packaging to develop a friendly relation with your customers. This can attract customers to your product. Create your product packaging in a way that makes it fun to use the product. Apart from the product itself, consumers will start buying it for the fun, and this can make a great gift option.
And finally:
Designing your product packaging should always be made with the future in mind. You never know when you will be ready to expand your product line. It will be easier to launch a new product in a similar style of packaging as this will resonate with your customer base. Think about how current packaging elements will translate to future projects. This make take a bit more time now, but it’s a worthwhile investment towards your company’s growth and success!