Last Updated on December 19, 2022 by Paul
It is the goal of any thriving business to satisfy the requirements of its customers. Achieving financial success is as simple as catering to the target market’s needs. Asking customers directly is a great way to understand more about their wants and needs. One approach is to allow for customized product ordering. Because sales through product customization become a trendy business nowadays.
While taking the initiative is significantly more challenging, it often produces better outcomes. Verbal surveys and feedback requests might be helpful, but often individuals can’t be sure of what they want until they actually get it.
Now is the time to take advantage of eCommerce product customization, which may help businesses in many ways, including knowing more about your consumers’ wants and needs by letting them customize the design of your product in their own way.
Nowadays, people are less interested in generic products than customized ones. According to gokickflip, customization of products is widely seen as beneficial by buyers.
Indeed, 81% are willing to pay more for personalized apparel, 79% for footwear, 76% for furnishings, and 77% for fashion accessories and jewelry.
It is quite clear that the product customization business is both profitable and satisfying. But starting a product customization business without planning and strategy is not going to be beneficial.
Innovative advertising strategies are essential in today’s competitive business environment if you want to win over clients and achieve your sales goals. The days of winning over customers with cheap, mass-produced products are over now. Customers’ expectations continue to rise as time goes on.
Therefore, in order to stand out from the crowd, your company must deliver exactly what consumers want.
Including customization in your advertising techniques and providing customers with the option to customize their purchases to better match, their preferences can promote customer retention and repeat business.
Here, we will explain how to increase sales through customized products and provide advice that will put you ahead of the competition. For now, let’s see what is product customization and the basic differences between customization and personalization.
What is Product Customization?
Product customization simply refers to products, which can be designed by the production company or by the customer. A product that is modified by a customer is also called a “personalized product”.
The demand for customized products is increasing every day. People are giving priority to customized products rather than pre-designed products. Because 52% of people think a customized product makes them unique compared to others.
Moreover, the concept of giving shoppers the chance to customize a product’s appearance in your online store to better fit their specific preferences
We are not talking about handmade products here; we are talking about giving customers the choice to modify specifics such as color, pattern, design, and material with minimal extra cost. It’s possible to add to a customized purchase by placing an additional order for preferred items.
Difference Between Product Customization and Personalization
Personalized and customized products are often used similarly, but what exactly is the difference between these two? The best strategy for personalization is to allow the customer to modify their own product, with a third-party application. For example- changing the color, shade, texture, etc. of a pre-existing product.
On the other hand, customization also makes each customer more special because a product customization business allows a customer to design their own product. Suppose adding text, logo, GIFs, etc.
But, it is important to remember that in most cases, you don’t have to decide between personalization and customization. Because they are almost the same.
What are the benefits of a product customization business?
Benefits of Product Customization Businesses
- It Increases Consumer Satisfaction
- Offers Promotion Through User Reviews
- It Increases Revenue
- Gain Customer Trust
- Differentiates a Business from its Competitors
- Help to Identify Target Customers
Benefit 1: It Increases Consumer Satisfaction
Improving customer satisfaction should be one of your main goals. You can do this by giving different groups of buyers personalized service through customized items.
Benefit 2: Offers Promotion Through User Reviews
Customers’ satisfaction with their customized purchases directly correlates to the number of recommendations they provide for your business. They may even post about their excellent experience on social media, which would help spread the word about your company and lead to organic growth.
Benefit 3: It Increases Revenue
20% of buyers would rather pay for a product that is made specifically for them. While it could be more cost-effective to place a bulk order for a single product configuration, keep in mind that you can set higher prices for customized items.
Benefit 4: Gain Customer Trust
Customers are more likely to buy from you again if you provide them with what they want and make them feel appreciated. Additionally, repeat customers reduce expenses and maximize profits.
Benefit 5: Differentiates a Business from its Competitors
Allowing customers to put their own spin on purchases is a great way to set your company apart from the competition. Make personalization a distinctive selling point to attract more customers.
Benefit 6: Help to Identify Target Customers
By gathering specific client feedback through a customized product offering, businesses can better target their marketing efforts. Insights gained from analyzing consumer behavior can be used to enhance existing offerings or inform the development of brand-new ones.
Now let’s explore the way of increasing sales through product customization.
Way Of Increasing Sales Through Product Customization
- Personalize Items With Names
- Event-specific Personalization
- Provide Discounts on Customized Products
- Allow Product Customization Through Digital Marketplaces
- Use Unique Promotional Products to Reach Businesses
Way 1: Personalize Items With Names
The most effective strategy for attracting the attention of consumers is to personalize promotional items with their names. According to startup bonsai, among marketers, 41% said that targeting specific audiences demands adding their name to customized products.
It’s the golden rule of customizing to make your customer happy, and it always leads to good results.
This method is being used by a growing number of businesses to gain new clients. It doubles your company’s branding speed while simultaneously increasing value in the sales process. In particular, this method has benefited the fashion industry.
The reason for this is that everyone enjoys having their clothing items personalized with their names since it makes them feel special and gives the impression that the company knows them individually. So, businesses get better at connecting with potential customers and winning them over for good.
Allow your customer to add their name to the product so that they can feel special while placing an order.
Way 2: Event-specific Personalization
Customization of products is another way to increase holiday sales. It’s become commonplace, with many popular firms employing the tactic to great effect around holidays such as Thanksgiving, Christmas, and Cyber Monday.
This is because many people enjoy participating in these activities while also dressing in tune with the occasion, and you can easily attract last-minute holiday shoppers.
Many companies boost their bottom line in two ways by offering a wide variety of branded items for special occasions like the holidays.
This includes clothing, tote bags, and other forms of advertising. For starters, it will raise their brand’s visibility in the marketplace, and secondly, they’ll be able to move all of their inventory of those products in a single week. During big events, marketers always use this method to get people to interact with them in a meaningful way in a short amount of time.
Way 3: Provide Discounts on Customized Products
With the correct product discounts, marketers can drive a lot of sales. In light of this pattern, sales incentives involving large discounts on fully individualized products stand a better chance of boosting revenue. By employing this method, the fashion industry is generating enormous profits and sales. Moreover, a good discount helps to generate more CRO from the prospects.
The reason is that when you hear about a store offering discounts on personalized products, it becomes incredibly appealing. It enhances the value of discount offers and encourages many people to make purchases of popular goods because of the substantial savings they can realize.
Way 4: Allow Product Customization Through Digital Marketplaces
Online retail is booming as more and more people across the globe opt to purchase goods from the comfort of their own homes using mobile devices such as laptops, tablets, and smartphones. Offering customers the option to fully personalize the products they purchase on your e-commerce platforms is a great way to capitalize on this growing trend.
Most online marketplaces no longer provide this service, so it is unusual to find it here. Using this method, you may be able to entice a large percentage of the local population to make purchases on your website. Offering full customization features at better rates can be a game changer for your web portal, which could sell everything from personalized apparel to corporate gifts.
Way 5: Use Unique Promotional Products to Reach Businesses
Promotional items are now commonly used by businesses of all sizes. There has been a recent interest in the simplicity with which businesses can reach their target audience through the use of a limited number of promotional goods.
You should use this chance to provide corporations with a unique range of branded items that are specifically designed to meet their needs. Bar blades, T-shirts, coffee mugs, keychains, and toothpicks are just a few examples of unique product customization.
Companies frequently employ all of these goods in various promotional efforts, so capitalizing on this fad is as simple as providing them with full customization possibilities.
Here is a perfect example of a unique promotional product (Custom skewers), which is customized by a product personalizer application named InkyBay.
InkyBay- Product Personalizer An AOV Generator For Your Product Customization Business
With the help of the InkyBay Product Customizer application, a business owner can introduce upsell and cross-sell products to their customers. The purpose of upselling is to get clients to buy products that are similar but more expensive than the ones they originally wanted to buy. Conversely, cross-selling encourages buyers to include items that are either connected to or complement what they have already ordered.
InkyBay allows consumers to add predefined templates and designs through a live design lab. Now, this consumer can be the store owner himself or his customer. In the case of upsell and cross-sell, we are talking about businesses that sell pre-designed, customized products.
Up-selling and cross-selling have a great impact on a business’s AOV. And we have already mentioned that InkyBay users can offer discounts, which also increases the AOV ratio in a print business.
Bottom Line
Doing Product customization business become a trend now, now most business owners do not know how to generate revenue through product customization business.
