In the world of unified products and services, customers started to look for different things and experiences which seem more authentic and possess a personal connect. Maybe this urge of customers gave rise to the spurge of customized products — where shoppers can design products the way they want them to be.
Personalization is indeed making a splash, and the stats also say so. A survey conducted by Bain & Co among 1,000+ users says that 25% of customers are interested in online customization options, and a study by Deloitte suggests 36% of shoppers would want to buy custom products online. The case of Nike shows that after the introduction of NikeiD customization options, the company’s online business has tripled.
It can be tempting for businesses to jump in and start offering customization services right away, but customization is no easy game, just like any other industry verticals. Before taking your leap of faith, there are a few things to ask yourself, so you don’t come crashing down.
Things to consider and questions to ask oneself before offering customization
- The very basic: what is the nature of your business? What kind of products or services does your company offer? Do you think there will be an audience to try out your products if you start offering custom products or services? And how do you handle all the inventory.
- Every business has its ups and downs. Have you ever felt that you were unable to stay intact due to stiff competition? Has your business reached a saturation point that you have to do this to steer the ship back into safe waters? Why do you want to offer custom products
- You are not the only brand eyeing customization. The time you read this, there might be a multitude of companies vying to enter this area. In such a market, how have you (and how will you) compete with your competitors? How are your custom products going to differ from theirs? What plans do you have to gain an extra edge?
- Average eCommerce conversion rates are 1% – 2%. But for sure, visitors will throng to your online store if you offer delighting customization options. Here comes the next BIG question: how do you convert visitors into customers, and how do you attain better conversion rate? Offer as many options possible and gain shoppers loyalty. But do you have what it takes?
- What is the average time a visitor spends on your online store? Is it more than the industry average? Ever felt your website traffic is slowly depleting? What can online stores do to increase traffic and ensure every visitor stays for a longer time?
- Are your company’s sales not as expected? What do you think would be the reason, despite offering best in class products and services with top notch features? Things can be changed, certainly. But how?
Well, the problems are aplenty, and the concerns are endless… But the solution, one — PRODUCT CUSTOMIZATION! <3
Offering personalization might require a rethink and revamp of business operations, strategies, manufacturing and distribution channels, etc. But once you set things right, like how Productimize did for 30+ brands, there is no looking back. A path of sustainable growth beckons!
Allowing customers to create exactly the product they are looking for gives incredible value to the product (and your brand). It creates a personal connection between the product and the customer. More than a product, it is a reflection of the customers’ personality.
The process of making things on our own makes us more attached to the objects and gives us a purpose.
Make the manufacturing unit ready
Before launching your custom products, ensure you have enough bandwidth in the backend to process and deliver orders ON TIME. No one can anticipate the kind of sales customized products could bring. Who knows, your company’s fortune can turn overnight.
In the case of regular products, bulk manufacturing is possible. But it does not work that way with personalized products. Each customer designs products the way they want, and every brand should be ready with all the necessary equipment to manufacture many products, in many different features and attributes.
It indeed seems taxing in the beginning. Once you have got the knack, though, a wonderland full of happy customers awaits.
Brands, to an extent, can understand customer tastes and preferences with the help of analytics and other tools. Using these, customer segmentation can be done for re-targeting. Understanding the customers and the market also helps to stock the necessary raw material to jump into processing once the order arrives.
The sooner the products reach customers, the happier they will be!
Features of Product Customization
- Generate more sales, obviously.
- Personalized experience. Customers make it, shape it.
- Give customers what they want, and own their loyalty.
- Increase conversion rate for your online store.
- Attract the millennial, because they purchase the most.
- Cost effective. Create on demand and reduce costs.
- Reduce product return rate by 40%.
- Better customer insights. Know shoppers inside and out.
Now that you gained a fair understanding of the things to think about and how customization will elevate your brand, let’s see what follows.
You need to find the right agency who can integrate customization into your existing online store, or build a brand new online store loaded with top-class personalization features which suit your line of business. Check out how to choose the right agency for product customization.
Enterprise Brands who trusted Productimize saw a 30% increase in customer loyalty, a 45% decrease in cart abandonment, a 50% increase in conversion rate, and much more. What else do you need? Check out our success stories of how we carved and created a niche for brands, both B2B and B2C. The best thing, all without a mighty price tag.
Discover the magic of Product Customization with our solution specialists. Get in touch with us to settle your doubts (if you have any), understand what personalization services can be offered in the industry your business is part of, and our team will be there with you from start to launch.