It is natural for people to love their names more than any other name in the world. It also explains why people sharing the same name tend to bond better than with others. Marketing strategists have taken advantage of this quality by creating personalized business products. Imagine, if you have a Coke bottle having your name on it, would you not prefer to have that drink instead of the hundreds of other beverages available on the departmental store shelf?
This is true even for the world of small businesses as well where you possibly get a small window of opportunity to create that first impression. We sat down with the owners of Little Rock Printing, and they were quick to tell us a few benefits that they saw their clients achieve after creating their own personalized brands. Let us now see the benefits of creating personalized business products.
Apply price premiums to your products
Personalizing your business products allows you to apply a price premium on your products. Statistics show that consumers would readily pay much more for customized products than what they would generally do so for the standard ones. Your sales increase if you use to personalize third-party products. It is one of the best ways to drive new revenues.
Help you to access valuable market research
Product customization is one of the best ways to understand your customer’s preferences. Coca-Cola is a prime example of this strategy. This company realized that people tend to buy more of this beverage when they found out that the bottle had their names on it. The experiments started with a few cans and bottles. It eventually led to an experimental website where people began to order personalized cans and bottles of the drink to celebrate their happy occasions such as birthdays, anniversaries, and other kinds of parties.
Increase your repeat sales
When you customize your business product according to the demands of the customers, you end up connecting with the customer. It helps to increase your sales figure. The chances of the customers repeating the sales are also high. At the same time, the rates of return of the goods diminish as well. The number of customer complaints also reduces a great deal.
Solidify your online presence
We have seen that your sales improve when we customize products to cater to the demands of the customers. It also increases the flow of web traffic towards your site. You can allow the customer to design their logo or design on the product. Under such circumstances, the customer tends to visit your website rather than shop at the traditional stores. The increase in the web traffic automatically pushes up your SEO rankings. It ends up making your products more visible on the online scene as compared to your competitors.
Enhance customer loyalty and simplify the order process
You can incorporate innovative initiatives like the ‘Create It Yourself’ (CIY) options. It allows your business to offer customers exactly what they want. You do not incur any additional overheads in the bargain. When you meet your customer’s individual needs with such initiatives, they are more likely to stick with your brand. The additional benefit of the CIY option is that the customer creates the designs. Hence, you need not shuttle between the designers and the customers. You simplify the ordering process. The customers are more likely to complete the orders when they create the designs.
Reduce your expenditure on marketing
When you have the CIY process in place, you need not spend anything on the marketing of the product. The customer does it for you whereby you save a lot on advertising expenses. The advantage of customization of products is that you can sell the products directly to your customers without involving the retailing chain. One of the best examples of this initiative is the experiment done by Nike. Nike used their NikeId.com to market their products without causing any channel conflicts. The CIY process is one of the best solutions if you look towards selling directly to your customers.
Ideal for corporates
The customization of products provides an excellent opportunity for corporates in their promotional activities. They can design customized products and offer them as gifts to their customers. It serves as a unique marketing initiative for these corporates.
We have discussed seven benefits of creating personalized business products. It serves various purposes ranging from marketing to increase the sales percentages. We sincerely hope that you would keep them in mind before you decide to start working on your own brand. After all, nothing’s more important than it.