We may sure think that product personalization is a new thing. But it’s not. Personalizing/customizing a product was, in fact, the base of many businesses back in those days. Before the industrial revolution, clothing, accessories, and shoes all used to be handcrafted by a tailor depending on the specific measurements of each customer.
This approach gradually changed into mass production of wearables which resulted in a common sense of style and people putting on the same thing. And now, personalization, or we can say customization is making its way back in a more refined way.
Now customization/personalization has become one of the most fast-growing trends and is not limited to only a certain category of products. We know that product personalization is not something new in the market but it’s safe to say that recently, the demand for personalization has skyrocketed. There is no doubt that product personalization has become a new norm.
If you also want to make the most of this growing trend, read on to know how offering personalization options can boost your brand growth significantly. Nowadays people use services like koozies custom to promote their brand.
Difference Between Customization and Personalization
Before heading on to how offering personalizations could be your next big step, it is important to know the difference between personalization and customization. You may sure think that both are the same, but there is a fine line difference between the two.
The word personalization is used when a company designs products for a group of people rather than individuals. On the other hand, customization only deals with the requirements of a single individual and not a group. We can say that personalization is driven by the business and customization is driven by consumers.
Grow Your Brand with Product Personalization
There are many reasons why your business can grow drastically by enabling personalization/customization options to your inventory. This is because of the constant growth of e-commerce platforms providing unique options compared to the traditional way of store shopping. If you are also running an e-commerce store, personalization options will be a great addition to further boost your sales and there are many reasons for this to happen.
1. Increases Cost But Also Profit!
Obviously, the very common problem companies have with providing personalization options is the cost. You can sell a bulk supply of products in the same color at a cheaper price but that’s not possible with personalization/customization. The good thing is, the cost will not make a significant difference.
This is because studies say that 1 out of 5 consumers (20% people) don’t shy away from paying as much as 20% more for a personalized product of their choice. This debunks the assumption that product personalization increases the cost. Though it does, people are far happier to buy a personalized item at a higher price.
2. Know The Desired Customizations and Increase Sales
Use the data you get when a customer creates a personalized product on your e-commerce site. This helps a lot to understand what type of merchandise they desire. Based on the information you get, you can also create pop-up recommendations when they come back to your website. These recommendations help your consumers with their next purchase on your platform. Thus insights into what people want will boost your sales and bring more revenue.
3. Use Personalization Wisely
We know that personalization could be the next big leap for your business, but it is important to decide how you want to incorporate it into your business. Do you want personalization to be your main business niche? Or it is just an addition to your brand to increase sales and brand reputation.
Also when you are incorporating personalization/customization features, make sure it is not too complicated. You need to communicate necessary information through graphics and videos. Consumers think they like full control over what they want until the time comes to choose among tons of options. They’ll be screeching their head on what to select and what not to. To deal with this, keep the personalization options at a decent level. You may provide an online visual guide to explain what fits with what to make things easier.
4. Free To Set Realistic Delivery Times
The thing is eCommerce giants like Amazon have brought some unrealistic expectations for delivery timings. Customers want their products to be delivered the same day or the next day. People don’t realize that these instant deliveries cost a significant amount to sellers. Amazon deals with this through prime memberships but others do not have an option.
Thankfully, with personalized items, consumers are willing to wait a little late to get their hands on the product. This is simply because they want their item to be perfect and understand that it takes more time to manufacture a personalized item than a generic one.
5. You can Enjoy Reduce Returns
One of the most underrated features of proving personalization & customization options is the drastically reduced return rates. This is because when buyers have more control over what they can order by using visual customization, they are less likely to get disappointed later. Moreover, you may also make a policy-wise right to not accept returns on personalized products unless there’s a quality issue. People also purchase bulk Popsocket custom and customize them to increase their brand’s name.
What Did We Learn?
Product personalization is getting popular among various types of businesses and the fact is, this craze is going nowhere. People are far more likely to buy something possible for customization. You can make the best out of this growing trend by offering some of the best personalization features that they cannot find with other retailers. For sellers who are worried about the increased cost of personalization, the above-mentioned benefits can change your wrong perception.
Interesting Read: 3 Ways To Achieve Successful Branding For Your Startup