Using Packaging to Build Value
Imagine that you have an account that sells $1,000,000 of your product per year. Pretty amazing right?!
Now imagine that they call you. They are upset. Frustrated..... You can feel that this is NOT a good phone call. And oh crap, it's only 7 weeks until she makes her purchase decisions for the next 12 months!
That was exactly what was happening for a client when a very, very high level business advisor referred them to us.
This new client had 7 weeks to turn around major problems with the Lowe's Home Improvement account that sold about $1,000,000 per year of their product. The product, also, had a very low profit margin, twice the allowable return rate and they got a TON of customer service phone calls.
New packaging and instructions are one part of how we solved the problems.
The Lowe's Home Improvement account soared from $1,000,000 to $2,000,000 in 1 year!
Given that your business' financial value (to you and investors) is directly related to sales, improving packaging can make a very big difference.
Packaging? Yes. Packaging. Do you know how it is affecting your pricing and reputation? Do you know how is it different for online and offline? Or how to use it to drive repeat purchases?
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