In order to embrace brand equity, we should have a good handle on what it means. Simply stated, brand equity refers to the value of a brand.
That value and its power are derived from the goodwill and name recognition that it has earned over time – which in turn translates into higher profits. According to an overview of brand equity in Investopedia, “Companies can create brand equity for their products by making them memorable, easily recognizable, and superior in quality and reliability. Mass marketing campaigns also help to create brand equity.”
It is within the framework of these mass marketing campaigns that promotional products can be most effective. Rather than just giving away more stuff with logos on it, products and packaging that reinforce brand equity can contribute to the long-term goal of increasing brand awareness and improving customer loyalty. Custom packaging, in particular, adds a higher level of strategic awareness to the brand, elevating it beyond just the value of the promotional product inside. It becomes part of a strategy to boost the integrity of a brand, rather than being just another giveaway that goes into the trade show bag.
First impressions are important. What consumers take in during those few seconds before choosing a product helps shape subsequent judgements about the brand. Companies that sell their products in retail environments have always known this, and have been designing better packaging solutions for years. They fight for shelf space and are consistently changing and improving their packaging in an effort to catch the consumers’ eye in a crowded market.
Although it takes a little more time to design – and adds a little more cost to the product – custom packaging for promotional products will catch the eye, and attention, of your audience. Try it the next time you have a high profile marketing campaign with a customer you want to impress – it works!