4 Benefits of Product Customization: Adding Personality to Products — ConfigureID
Customers aren’t clones, and in today’s market consumers are looking for unique experiences and products that reflect their preferences and personalities.
A brand that wants to stand out needs to provide unique offerings to its customers. One way to achieve this is by enabling customers to be part of the creation process through product customization. This can include allowing design alterations of colors, monograms, patterns, stickers, etc, to tailoring a product to a consumer’s unique preferences.
Louis Vuitton provides a great example of this type of product personalization for their handbags and small leather goods.
Many other world-famous brands like Ray-Ban, Pandora, and Fender also allow their customers to co-create and design unique products. And they’re seeing incredible results.
Let’s take a look at the 4 main benefits of product customization for your brand.
1. Increase Brand Loyalty
Personalizing the shopping experience by offering customizable products will inevitably increase customer satisfaction. When customers are part of the product creation process, it helps create an emotional connection between the buyer and the product. This leads to an increase in both brand loyalty and customer satisfaction.
Receiving a product from your favorite brand in the mail is exciting, but receiving a product from your favorite brand with your initials and your preferred creates a much stronger brand-to-consumer bond.
2. Increase Your Margins
In a saturated market, products often have to compete on price alone, reducing profit margins and risking long-term business viability.
You can help avoid the commoditization of your products by offering product customization.
Consumers are much more willing to pay full price or even a significant premium for products they are able to personalize to match their preferences and personality.
According to a recent Gartner study, consumers are willing to pay up to 30% more for customized products. In fact, today’s shoppers are not only willing to pay more for customized products…they actually expect to!
Kendra Scott’s Color Bar provides another great example of how brands can leverage product customization to help increase product value.
3. Go Viral!
People enjoy sharing unique and satisfying shopping experiences with their friends, family, and social networks.
Advanced product personalization experiences provide social sharing options, helping your company spread brand awareness and increase reach.
This contributes to your word-of-mouth marketing efforts and is one of the best ways to go viral!
Check out how Fender uses social sharing capabilities to help expand the reach of their custom guitars.
4. Get to know your audiences better
Product customization offers brands the opportunity to collect customer preference and configuration data.
The data that can be made available from product customization can range from the preferences of individual customers to the tendencies and preferences of different demographics.
Conclusion
If you’ve been looking for something that can lead to more word-of-mouth marketing, an increase in customer satisfaction, and increased margins all at the same time, try product customization. It’s a great way to not only increase customer satisfaction and loyalty, but also to help increase brand distinctiveness and business profitability.
If you’d like to learn more about how product customization can help your business increase customer engagement and profitability, contact ConfigureID now to schedule a free consultation.
Originally published at https://configureid.com on April 20, 2020.
