Customer-perceived value is more than marketing jargon. It can have a real impact on how your products are received and, ultimately, your sales.
What Is Customer Perceived Value?
Customer-perceived value (CPV) is how customers see the benefits they get from buying something compared to what it costs them. It’s all about what they think they’re getting for what they’re giving up – time, money, or effort.
Perceived value goes beyond the physical product. It’s all about how it makes customers feel, how it fits into their social lives, and how much they trust the brand behind it.
When we talk about CPV, we’re talking about:
- What it does: The practical benefits customers get from using it.
- How it makes them feel: The emotional satisfaction they get from using it.
- What are the social perks: How it affects their relationships or social status.
- Whether it saves them money: The financial benefits they perceive.
- How reliable it is: Their perception of its quality.
- The brand’s reputation: How they see the company that makes it.
This perceived value drives customers to choose one thing over another. By ensuring their product delivers value in these areas, they can keep customers happy and stay ahead of the competition.
How Does Packaging Influence Customer Perceived Value?
Packaging is one of the most influential factors in a purchasing decision.
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The right packaging can make your customers feel like they’re getting something more valuable, even without changing the product you sell.
Customers Keeping The Packaging
Imagine you bought the latest iPhone, and it came to you in a plain cardboard box rather than the typical sleek packaging. Not only is this jarring, but would you be confused and upset that it wasn’t in the usual box?
Even though the product stays the same, the package matters. For example, we might think an iPhone in the usual packaging is worth more than one in a plain box. Many Apple customers even keep the original packaging. In an online survey, 28.3% reported keeping the box forever, and 59.5% kept it until they had a new phone.
It’s not just about what’s inside the box; it’s about the entire experience—from the moment customers see the packaging to the emotions it evokes and the message it sends about the brand.
Create Packages That Increase Perceived Value
Standing out from the crowd is a great way to boost your customers’ perceptions of your products’ value.
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As you design your packaging, consider the following:
- Design: Invest in packaging that aligns with your brand identity and audience preferences. Use colors, typography, and graphics purposefully.
Unique design elements, innovative shapes, or distinctive branding elements can make your packaging stand out on the shelf. Differentiation helps capture customers’ attention and position your product as premium compared to competitors.
- Material quality: Based on your brand positioning and product characteristics, choose packaging materials that convey durability, luxury, and sustainability. High-quality materials enhance the perceived value of the product.
- Functionality: Ensure your packaging is easy to open, use, and store. Consider features like resealable closures, handles, or compartments that enhance convenience.
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- Clear communication: Provide concise information about the product’s features, benefits, usage instructions, and relevant certifications. Transparent communication builds trust and helps customers make informed decisions.
- Emotional appeal: Consider adding personalized touches, storytelling elements, or interactive features that engage customers and strengthen their connection with your brand.
- Sustainability: Embrace eco-friendly packaging solutions to appeal to environmentally conscious consumers. Materials that are recyclable, biodegradable, or compostable are great options.
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- Unboxing experience: Design the packaging to create a memorable unboxing experience that exceeds customers’ expectations. Consider adding surprise elements, personalized notes, or special touches that delight customers and encourage them to share their experiences on social media.
Complete Packaging Solutions Can Help
Complete Packaging Solutions is a veteran-owned and delivering personalized and custom packaging solutions. Get in touch with our team or call (765) 547-1300.
