Since the beginning of the internet sales we have found a huge advantage, a practically unexplored market due to the limitations of having a retail store, with an existing physical inventory and ready for sale. In the online stores the warehouse is practically at our disposal and it can be modified before reaching the end customer, so we have the possibility to modify the product or service, or even create it from scratch at the convenience of our client. And the rise of many brands has been in this factor. Personalization is one of the added values to which the new generations give more value.
If we want to venture into the market for personalized products or services, first we have to thoroughly analyze what we sell:
- Is it mass produced or are we waiting for an order to do it?
- Is the raw material always the same or is it different every time?
- What would be the economic impact of applying personalization?
- How much more can we charge for a custom product?
Once we have answered these questions, we can define if it is possible to offer our clients the option to customize your purchases. Let's remember that, although there are companies that base their entire business model on personalization, there are others in which this part is just a little extra, which can generate more sales or encourage the customer to make them.
From the first case we can take as an example Etsy, a sales company very similar to Ebay, with the difference that this only sells personalized or handmade products. On the other hand, Apple offered customers who bought their electronics online the ability to record a short phrase on them for free. This in order to encourage online purchases and avoid intermediaries. Whatever your case, analyze the advantages of entering personalization, you will see that it can pay off greatly.