This blog is part one of a five-part series on product personalization. To read the complete resource guide “5 Reasons Why You Should Offer Product Personalization”, please click here.
Product personalization is hot. Like, car-metal-on-a-90-degree-Indiana-day hot. Customers are demanding it, industry events are talking about it, and retailers are scrambling to implement the latest trends. At Speed Commerce alone, we’ve seen a 17% increase in the volume of personalized orders from 2012 to 2013. Embroidery, engraving, custom materials cutting – you name it, it’s up! And we only expect it to continue to grow as online retailers seek to make the ecommerce customer experience as close to the brick-and-mortar experience as possible.
Bain & Company recently surveyed to gauge ecommerce customers’ interest in product personalization. The findings were fascinating – although only 10% of the 1000+ respondents had customized an order online, 25-30% were interested in doing so but just hadn’t completed it yet. That means that one in every four customers visiting your site will at least check out your personalization options when browsing. Think about your average order value for a minute when you consider that statistic – if you’re able to convert even 25% more shoppers with customized services, is it worth it? Most retailers would say YES!
So how can you ensure you give your customers the personalized products they want? Consider these tips:
- Find the personalization options that make the most sense (financially, operationally, and aesthetically) with your product mix.
- Send surveys to past customers – get their input on what they want to see (and buy!)
- Use all that purchase data you have to create targeted marketing lists to upsell personalization services.