This blog is part one in a five-part series on product personalization. To read the full 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 volume for 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 conducted a survey to gauge ecommerce customers’ interest in product personalization. The findings were interesting – although only 10% of the 1000+ respondents had actually customized an order online, between 25-30% of them were interested in doing so but just hadn’t completed it yet. What that means: 1 in every 4 customers who comes to your site will at least check out your personalization options when they’re 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’re giving 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’d like to see (and buy!)
- Use all that purchase data you have to create targeted marketing lists to upsell personalization services
What’s hot in personalization among your customer base? Let us know in the comments!