If you’re thinking about starting a cannabis-based business venture, you’re likely to make a lot of money if you do things right. The legal cannabis industry is projected to be worth $50 billion by 2026, which would expand its current size more than eight times. There’s a lot of money to be made in legal weed, but there’s also a lot of competition. BzzzzIf you’re planning on selling any pre-packaged items, realizing the importance of packaging is paramount. Whether you’re selling cannabis-infused chocolates, CBD oil, THC-tinctures, or ganja gummy bears, your product’s packaging communicates several different things. Some marketing specialists even speculate thatbranding is as important as the product itself because it’s such an essential marketing tool for your business.
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You could literally have two of the exact same products side by side, but the one that’s most appealing in the package is going to attract more attention. As you get ready to launch your very own cannabis brand, begin to think about how you want to package your product as you keep the following thing in mind.
How You Display Your Product Makes Your Brand Stand Out
Every year, 95 percent of new product launches fail. This is not to discourage you to ditch your dreams of becoming the next big thing in the cannabis industry, however. If you start with a good packaging design, you’re already ahead of the game. Not only does packaging make your brand stand out, it’s also an extension of your overall image as a cannabis brand.
What kind of clientele are you trying to attract? Who is your target audience? If you’re looking to start a luxury cannabis lifestyle brand, the last thing you want are stereotypical stoner images on your package. Think of Apple, for example, known for their clean, minimalistic packaging. Remember, your package is the first thing people are going to see when considering your products. Not only does it make your product stand out, but it, tells a lot about who you are as a company.
Packaging Has a Direct Effect on Your Product’s Overall Appeal
Packaging has two key purposes. To contain or protect your product and to catch your customer’s attention. While containing your product is obviously important in the cannabis industry (from both a legal and safety standpoint), the package you put your product in must appeal to your target audience.
You want your packaging to be both functional and easy to manage. According to one packaging survey, 62 percent of consumers are unlikely to buy from a company again if its packaging is hard to manage. So even if your product is legit, if the packaging sucks people aren’t likely to buy it again.
Packaging Offers Your Customers a Unique Experience
Let’s say you’ve created an awesome product and packaged it up in an appealing way. Let yourself now think about your customer after they’ve purchased your product and is ready to open it up. Are they going to have an unforgettable experience opening your amazing cannabis product…or is it just going to be run of the mill?
Take Snoop Dogg’s line of cannabis-based products, Leafs by Snoop. Each product is packaged in a “laid-back California cool” box or wrapper with pastel gold colors and eye-catching imagery. These products speak to their consumer, offering a unique experience with bud, concentrates, and edibles packaged in pretty boxes you’d want to use again. Consumers don’t just get a product…they get an experience that will keep them coming back for more.
Your Packaging Reflects Who You Are as a Company
Who you are as a company has a lot to say about the product you sell. Let your packaging paint the picture of who you are, from the color scheme you choose to they type of font you use to describe your product. What is the message you’re trying to convey? Are you an environmentally conscious cannabis company donating a proceed of your portions to help the environment? Convey this through the packaging you use. Are you a luxury brand that appeals to the lifestyles of the rich and famous? Your packaging will need to reflect this. When designing your packaging to reflect your company’s values, keep things clean and consistent. Consistency is crucial if you want your brand to be easily recognizable and appealing to your target audience.
The first interaction your potential customers are going to have with your product is either seeing it on shelves in a store or online. What are you going to do to make sure your product stands out against all the other choices available to your target audience?
70 percent of consumers report that the way a product is packaged can affect their idea of a business as a whole. How do you want to be seen in the ever-expanding cannabis industry? The way you package your product is going to have a lot to do with the way people see you.
Setting yourself up for success is vital for any business, which can be done effectively by choosing the best packaging practices for your product. Remember, the way you package your cannabis product could make or break your business. Make sure you choose your packaging wisely.