Here are three reasons why product customization can position your brand to reach new heights in 2020.
1. You Can Charge More
A common case many companies have against offering product customization is the cost. Obviously, it’s far cheaper to order a bulk supply of a product in one color, without needing to engrave initials or guess how many lime green portable phone chargers will be purchased this quarter. But, you can also charge more. And they’ll buy.
A recent consumer review by Deloitte reported that 1 in 5 consumers are willing to pay 20% more for a personalized or exclusive product. And even if you are under the assumption that only today’s younger crowd wants something personalized and custom-made, the review also reports that those who are over 55 years old are actually more likely to purchase a personalized holiday than those in the 16-24 age group. Personalization offers something unique to every age.
Not only that, 46% of consumers say they are happy to wait longer to get their customized product or service.
2. Conversation Starter = Word Of Mouth Marketing
People have a tendency to notice something different. Athan Didaskalou is the CSO of July Luggage, a brand that allows customers to custom-make their luggage online. They can choose size, color, and then add the imprint of their initials anywhere on the luggage – AND choose the colors of the letters and the colors of the letters’ shadows.
“Customers tell us all the time that people stop them in airports and on trains to ask where they got their suitcases,” Didaskalou offered. “People are intrigued by the idea of their initials on their suitcase, and when they learn they can choose the color palette too, they get excited.”
“We’re doing customization differently – we use software to create perfect personalization every time, and do unique and creative things like introducing new detailed fonts and colors. A key example of this – we’re the only company in the world who can personalize their luggage in Chinese characters.”
3. Increase In Customer Satisfaction
Finally, remember that not all customers want the same things. The ability to customize or personalize their experience or product inevitably heightens customer satisfaction. When they receive their product in the mail, hand-stitched or engraved with their initials and in their favorite color and size, they feel a different type of ownership over the product, which can lead to increased feelings of brand loyalty, too. Lexie Lu writes, “Customization is about what the user can do themselves…whenever a business is able to [offer customization], they’re offering their customers the opportunity to be unique.”
If there’s a way to customize your product offerings, try it! Even the option to add initial engravings can lead to more word of mouth, referrals, and increased customer satisfaction. There are tons of ways to customize an experience if you don’t sell a physical product.
Get creative, and always be looking for ways to heighten the brand experience for each of your customers or clients.