This strategy has enabled the brand to generate over a million additional sales. Customization 2 Source: DODOcase official website 2. An opportunity to raise prices Personalization presents the opportunity for an acceptable price increase for customers, who are willing to spend 20% more on a personalized product. 3. Increase the Romania Phone Number List customer loyalty rate Offering customers this new way of getting a personalized product creates a sense of reward that meets their needs . This exceptional experience allows brands to bond with customers and increase their loyalty. 4. Better understand customers This kind of service allows companies to learn more about the preferences of their customers from their individual choices .
This first-hand information can then be analyzed by the product development team as part of statistical customer satisfaction analytics. 5. Increase brand awareness Product personalization can also help brands build a loyal customer base and increase their return on investment , through a stronger online presence and customer connection . As in the case of NIKEiD, this strategy represents a unique way to meet the needs of end consumers, while reducing distribution costs. There are, however, many challenges to successfully personalize products. It is therefore essential to understand the complexities, pitfalls and issues that can impact the future of a customizable product model. 7 personalization tips, from industry experts 1. Start small with exclusive offers Never launch a new concept without testing it. You have to remain vigilant and keep an overview, even if an idea seems to be effective or if it is deemed to be effective.
However, This Kind Of Policy Is Likely To Scare Away Customers.
Start with a test group and gradually get customers to accept the concept. Betting everything all at once can not only cause customers to lose their bearings, it can also incur unnecessary costs. One possible solution is to start by offering personalization options as a gift or additional features to a selection of loyal customers. It is best to start small and simple in order to understand how the business will be able to reap the benefits of product personalization. 2. Find products perfectly suited to personalization from the production stage Not all products are created equal for this kind of strategy. Testing products that are already in the catalog can be a great start .
If this is not possible, assess whether there is a need for a new production line or a new way to exploit already existing resources. Also be aware of the potential costs generated. In this case, try to find options which can be customized without negatively affecting the cost of production or which offer the possibility of increasing prices or volumes. 3. Analyze technological opportunities to improve the process for customers Technical solutions can sometimes come in different forms for the same desired result. Be prepared to think outside the box and look for opportunities to personalize your brand without having to change its core features. Guerlain has equipped its emblematic range of Rouge G lipsticks with a 3D configuration tool . The 360 degree 3D display allows customers to choose from 500 combinations and view the results in real time .
The Coronavirus Pandemic Has Had An Impact On The Way Purchases Are Made, Directing Consumers To Digital Channels.
The brand felt that this was the best way to meet the specific needs of its customers . 4. Limit options and enhance the shopping experience The key factor in the success of a personalization option is the brand specific shopping experience. It is about offering the customer a highly personalized, captivating and therefore memorable journey . Throughout the process, the customer naturally increases their knowledge of the brand and feels they have a say in the creation of a beautiful object. Limiting quantity while emphasizing quality not only promotes a smoother experience, especially for less experienced customers , but also allows the brand to highlight flagship products and their selling points.
which generally represent a larger portion of turnover, while avoiding unnecessary production costs . At the start of the year, Nissan adjusted its strategy by limiting the number of options offered to customers and thereby eliminating some models that were in little demand, resulting in an overall improvement in the profitability of its personalization service. 5. Use a customer-centric strategy Aside from the instructions and examples that the brand offers, customers who are short on skills or time may need additional resources that will help them properly customize a product. A platform that allows users to share their experiences not only solves this problem, but also improves customer engagement and values brand presence.