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8 benefits of product customization

8 benefits of product customization

In the today’s 21st century world, customers are often looking to find and buy some unique, custom-made and personalized goods. The results of the recent research have shown that the purchasers who were given an opportunity to interact with the product by taking part in its design and personalization were more likely to purchase them at the end. Therefore, there exists a growing belief that the successful and innovative companies who strive to be the leading force in the market will satisfy this growing demand for choice.

One important thing for every business to keep in mind is that the actual customization does not necessarily translate to a need of making big changes in your business or a product model. The actual personalization can be limited to giving the customer an opportunity to choose a color of the product or letting him or her add a custom name on it. But no matter how small or large this extra option will be, a company of any business model, size or scope can get a large number of benefits from product customization.

Top 8 rewards which businesses will get from product customization

The advantages which customers will get from the customized products are obvious. They want to have unique products which will have that special feeling attached to them. Something which their friends, relatives or neighbors do not have. And the forward-thinking companies who would act both timely and wisely will be the ones who would give their buyers that special product they always wanted to have.

But what are the advantages of introducing those customized products from the business perspectives? Below are the top 8 benefits of product customization every company should consider:

1. Additional mentioning by the mass media. By introducing even the smallest DIY opinions for their current product portfolio, companies would automatically give the local or international mass media agencies the incentive to write about that feature in one of the latter–s upcoming publications. That new option does not have to be big in order to be a hit. Businesses would just need to make sure it’s fun, relevant and useful.

2. An opportunity to place higher prices on their products. Customized and well-made products are often considered to be special. In turn, special goods are often considered to be scarce and exclusive. And as it is often shown by recent research, customers are willing to pay an extra 25% of the original price for an opportunity to have those exclusive products. Therefore, by introducing product customization, different businesses may enjoy higher percentage of revenues from selling even a slightly upgraded version of their original products.

3. Information about the things your customers want to purchase. An additional advantage of selling personalized product is an opportunity to have timely and relevant information of your customers’ tastes and needs at absolutely no cost. Therefore, by introducing product customization, all the customers will receive accurate information about the products their customers actually buy and hence have a clear understanding of the business direction they should go to in the future.

4. Presence in the gift market. When it comes to celebrating Birthdays, Christmas, New Year or any other event, we all want to present our friends and relatives with a special gift which would make them happy. Just an ordinary object would not always do the trick. But a personalized one with a special name or a signature can well be an option here. After all, it would be hard to resist a temptation of owning customized watches or kits with your own name being placed on it. Therefore, by giving its customers an opportunity to create and buy some personalized products, a company would have a chance to enter itself into the gift market and hence have an opportunity to earn additional profits out of it.

5. Better customer loyalty with a lower product return rate. By letting a customer take part in the product creation process, a business will make sure that the customers get exactly the kind of product they wanted to buy which will lead to a feeling of involvement and satisfaction. The latter has been proven to have a positive impact on the number of repeat purchases, customer loyalty and product returns.

6. Better search ranking within the search engine results. Creating your personalized product is an interesting task. While trying to build their very own products, customers would spend considerably more time on the company’s website trying out different features and characteristics their new purchased product should have. Therefore, as a result of introducing product customization, company’s websites may well enjoy an improvement in the important SEO metrics such as Time or Site and Bounce Rate. This in turn would lead to advancement in their rankings within the search engines hence leading to a higher amount of leads and larger revenue.

7. An opportunity to sell directly to your customers. Another advantage for the businesses to give product customization a try is an opportunity to sell their products in a direct way without the involvement of other channel members. In this way, a business will collect larger revenues and avoid any unnecessary conflicts with its retailers.

8. Simplified Order Process with regards to timing and costs. If you can remember the process of buying customized products from the good old 90s when computers had a size of a modern mid-sized fridge, you are surely aware of all the hurdles this process was associated with. Misunderstood requirements, long waits for your specifications to be sent back and forth before you finally see the thing you wanted to buy… All of this was time-consuming, costly and frustrating for both you and the company you wanted to purchase something from. But now, by introducing a product configuration option on their website, companies will save a lot of time by rationalizing this process. In other words, product customization will illuminate the waiting time and make sure that the customer gets exactly what he or she wanted quickly and easily

Using Product customization for your Magento 2 store

If you happen to have a Magento store and want to realize the benefits of product customization for your business, try out the Magento 2 Custom Options from IToris Inc. and take your existing product offerings to the new level. And if you are interested in other Magento 2 extensions, don’t forget to view them on the Magento 2 extensions page.