If you have an enticing CBD product range or gearing up to launch one, you must know there are plenty of hurdles to leap over before landing a spot in the big league.Perhaps that’s why 90% of new businesses fail. Yup… it’s hard to accept this, but that’s the verity.
The reason so many startups fail mayvary as it could be because of lack of funds, tough competition, wrong team or more. But it doesn’t necessarily mean you have to be a part of this club.One way to avoid despair and keep your business on track is by developing the ideal CBD packaging.
An enticing packaging can push your startup in the right direction and make your product launch a huge success. Something that every startup owner long for.To help these budding entrepreneurs, here we have listed 5cost-effective tips for startups to develop ideal CBD box packaging.
Do Your ResearchAforeLaunch
When people embark on the startup journey, many anticipate smooth sailing. In fact, a lot of them see big dreams through rose-colored glasses before they experience a shell shock when their packaging prototypes hit the market.
Creating compelling packaging is not an easy feat. But since it’s the first interaction of customers with your brand, you cannot simply ignore it. Rather, it should be the first thing on your checklist because the packaging is the gateway to a customer’s heart that’ll help you build a loyal base of fans.
So acknowledging your CBD packaging should be a priority, while knowing your target consumers will be the second step. But you need to get a little creative when crafting your packaging. This will help your products to stand out in the retail environment. Sounds expensive? Not really.
There are many ways to manufacture ideal packaging boxes without going beyond your means. One way is to opt for flexible packaging than going with glass bottles or bulky boxes. This will help you cut the freight cost by reducing space.
Another way is to find a specialist custom CBD packaging boxes manufacturer like The Legacy Printingthat offers high-quality packaging at incredibly low prices along with free shipping and design services. This means you don’t even have to hire an expensive graphic designer to create a design.
A reliable packaging partner can also suggest some practical ways to create appealing boxes within your budget as theyhave years of experience in designing and manufacturing packages. This is an excellent way to reduce your packaging cost.
Know Your Target Customers
Frankly, there are already many inviting packaging concepts out there that are luring customers in the marketplace. This showsthat you must come up with something that’ll stand out on the shelves and talk to your target customers. Remember, a smaller budget cannot confine creativity.
So don’t get distressed. Be creative. Find out how a minimal packing design can attract customers you are tryingto target. The best way to accomplish this goal is by knowing your target consumers.
Also, it’s important to know whether you’ll sell your medical cannabis product directly to the consumers or put them on retail shelves. If you are going directly to consumers, extravagant boxes can prove a wasteful investment.
Instead, consider an easy-to-discard and easy-to-open packing that’ll delight your customers. A pleasant unboxing experience can also win you customers. However, you can only do that by fully understanding the needs and preferences of your target audience. It will help drive repeat business and word-of-mouth recognition.
In case, you are struggling to come up with creative design ideas, your packaging partner can help you out by showcasing the pre-made boxes that’ll inspire your creativity.
Know Your Competitors
Before your packaging hits the production line, it’simportant to find out how your competing businesses are packing and marketing their CBD products. You need to discern how you can differentiate your packing from them and still be able to grasp customers’ attention.
Devise a practical and creative marketing strategy that’ll help you get your startup off the ground. Examine their packing materials, design, colors, and labeling. Now compare these to your understanding of the market. This quick research will help you carve a topnotch design and marketing strategy.
Know Your Product & Packaging Partner
To design the best packaging, know your product fully and join forces with a packing manufacturer who can fulfill your requirements to protect and maintain your medicinal items’ shelf appearance. Besides this, you should figure out:
- Is there a shelf-life for your CBD product?
- Have you verified the shelf-life of your product?
- Does moisture affect your product?
- How you’ll label your packaging?
Answer to these questions will help you choose the best packaging materials for your items. For production, ask the following questions from your packaging manufacturer:
- Should you anticipate bottlenecks in production?
- Do they have the skilled labor and the right machinery?
- Do they outsource your project or do it in-house?
- Is there a minimum order quantity (MOQ)?
- Do they offer free shipping and add-ons?
- What’s the turnaround time?
Partnering with a packaging firm that can take care of your entire package production and fulfillment helps you better manage your budget with fixed cost. Moreover, you won’t have to manage a giant facility or labor to run the production.
A reliable packaging company that comprehends your unique business needs will greatly benefit your business. Not only the firm can identify various ways to optimize your packages and proffer customized solutions, the experts at the company may also be able to improve your existing packaging solution.
In brief, the sooner you’ll involve a manufacturer, the better they’ll be able to provide value to your business.
Bulk Purchasing Works
Often times, ordered quantitiesaffect the pricing you get. For instance, a packaging manufacturer may require a minimum order of 100 or 50 pieces to accept your order, in which you’ll pay $1.18 per box. But if your order doubles this amount, you are likely to receive a much lower price per package, which will allow you to save a significant amount.
Smaller quantities often cost you more and one should keep this in mind when placing orders with the manufacturers. By and large, this statement covers all the trades of life.Think through how you can manage your inventory and buying in bulk can save you overhead costs in the long run.
However, risk is still involved, even when you purchase in bulk. Because if your CBD products fail to see sales you have to suffer a bigger loss with useless inventory at hand.
We hope the aforementioned tips will help new businesses start on the right foot and develop a money-making packaging for their CBD product range that’ll drive sales and business growth. That said, lead times should also be factored-in as this often surprises startup owners.
Most of the time, items that aren’t stocked takes a few days or weeks to reach you. For example, manufacturing a custom box using different materials or printing technology can increase the lead time quoted to you. So, you must bear this in mind when working on your packaging as it can greatly reduce the delays.