Business is all about boosting ROI. It’s about making wise investment choices that will get you your money back and help you grow your company.

Great packaging design weighs heavily into ROI. In fact, in a blog post for Nielson, Randall Beards called packaging “the small investment that brings big returns”. He notes that once a smart packaging choice has been made, it can continue to boost revenue for years to come.

If you are looking to increase your ROI with innovative packaging, here are some things to keep in mind.

How to Measure Return

The first thing to consider is the goal of the packaging. Ultimately, the packaging will be used to bring in more customers and there are several ways this can be achieved. Here are some examples:

· Rebranding: The company may be going in a new direction to provide more leverage against competitors.

· Increased sustainability: With an emphasis on the environment, more consumers are interested in a company that cares. Sustainable packaging can go a long way. Not only does it send the right message, but recyclable packaging may also provide added value to the consumer.

· Increased visitors: The right packaging will make your product stand out on market shelves leading to a stronger brand identity and an increased generation of sales.

· Clearer Information: Packaging can be updated to provide clearer information to consumers. This will make them more likely to purchase your product and it can cut back on time spent responding to inquiries.

How to Calculate ROI on Packaging Design

The ROI of design isn’t something that can be calculated easily. It can take a while to generate income and revenue can continue to increase gradually over periods of time. However, case studies have shown that companies generate an average of a 5.5% increase in sales due to updated packaging design.

Costs incurred by the company may include any and all of the following:

• Cost of materials

• Cost of production

• Staff time spent on generating the design

• Marketing and promotions

• Distribution

• Write off of materials used for production

Companies may see an immediate increase or decrease in these costs and, if an increase occurs, it may take some time before they are able to determine whether they made the right decision. However, organizations that do some research as far as what the consumer wants, how the packaging will work in a retail environment, and what their competitors offer will have the information they need to create amazing packaging design that adds value. This will lead to considerable returns in the future.

Lien Design has a history of working with clients to create innovative packaging that has substantially increased ROI. Our package design expertise has given companies the push they need to get their products to number one and boost their revenue. Contact us to find out how we can help your company grow.