Imagine receiving birthday gifts from two friends who know your passion for fashion. One gives you a Nike sneaker, while the other thoughtfully chooses Adidas, your favorite brand. Which gift would bring a bigger smile to your face? Likely, the Adidas. This scenario illustrates the impact of personalization in business and why customization matters. By considering individual interests and preferences, businesses can make meaningful connections, earn loyalty, and drive sales. There is immense power in personalized products and the available data today shows the reason why personalization and customization matter in 2024.

Should businesses focus on customization? Why does it even matter in this age? Are personalization and customization the same? This article shall look at the concept of personalization and customization in marketing and their relationship. It will then explore the reasons why customization matters for businesses in 2024.

What is Personalization?

Personalization is a strategy in marketing that is generating buzz from companies, both large and small. This can be attributed to the high level of success that it has recorded. Personalization refers to the act of putting contents, products or services informed by an analysis of previous data from the customer. Personalization works in different phases of business and marketing. It can be actualized through emails, websites, SMS, mobile apps, social media platforms, physical and retail store presentations. In fact, 89% of marketers see a positive ROI when they use personalization in their campaigns. The rate at which personalized products and services perform cannot be underestimated. It gives business owners the opportunity to make the customers their business hero. In turn, the customers feel important and included.

Relationship between Personalization and Customization

It has been a contending discourse in the market space whether personalization and customization are the same. They are not. While personalization is tailored due to the identified interest and behavior of the customers, customization is that specific service demanded by the customers themselves to suit their preferences. An example of personalization can be an e-commerce site suggesting products to a user based on his/her browsing history or a streaming platform like YouTube or Spotify suggesting songs or videos based on the viewing habit of the user. Customization on the other hand can come in the form of designing a custom T-shirt that will include a specific color or design or creating a phone case with some characters and colors.

Despite these, there are some items and pointers that show the relationship between the two, these include:

1. Mutual connection: Personalization and customization cannot be separated as they are mutually connected. The mutual connection between the two involves the presence of one leading to the existence of another. For instance, a personalized shopping experience might suggest custom options that a user might modify to suit its own change.

2. User Satisfaction: The end goal of both personalization and customization is user satisfaction. They are designed to ensure the users or customers are thoroughly satisfied with the product or service. This is then expected to boost engagement and loyalty.

Fueled by technology: While it may be subject to argument, the existence of personalization and customization prior to the digital age, the undisputed point is that both activities are possible and have been largely impacted by technology. The ability to track a customer’s browsing culture and preferences or offer customized products to the customers are all engineered by technology.

Why Customized products matter in 2024

Customized products have generated a lot of sales for businesses. The act of giving customers liberty to choose and tweak what they want to their own taste becomes one of the marketing strategies that works in 2024. A lot of businesses can offer customized products such as fashion and apparel, tech and gadgets, beauty and skincare, home decor and furniture, food and beverage, gifting and stationery, health and fitness, automotive, printing and branding, pet products among others. Here are some of the reasons customized products are important in 2024:

1. High demand: Statistics have shown that there is a huge demand by customers for customized products. If product customization is available, 59% of internet buyers are more likely to purchase a brand or merchant. The rise of technology and social media in particular has increased the rate at which consumers become aware of choices and preferences which they will want to replicate on themselves. This gives them power over the design, color and features of the product which in turn increase their connection with the brand.

2. It builds brand loyalty: Customization is a veritable way in which brands can use to gain the loyalty of their customers. Customers appreciate better, brands that give them the freedom to change or suit products to their tastes. The emotional investment created through customization translates into stronger brand loyalty, as customers are more likely to return to a brand that has already provided them with personalized experiences. Also, customers are then free and eager to refer the brand to others which will boost sales.

3. Improves Customer Experience and Satisfaction: One of the after-sale challenges faced by businesses is the review of the customer whether he/she likes it or not. This particular challenge can be solved with personalized products. With personalized products, customer satisfaction and experience can be enhanced. When customers tailor what they want, the connection they have with that product increases. The customer now sees the product as their own product, not what someone made or designed for them.
4. Makes brand unique: In an intensely populated market, a brand can stand out from its competitors by offering personalized products. It allows brands to offer unique value propositions, putting them ahead of their competitors. By enabling customers to create one-of-a-kind products, brands can establish themselves as innovative and customer-centric, gaining a competitive edge.
5. It boosts sales: Customized products play a key role in increasing sales for brands.  As consumer preferences shift towards personalized experiences, brands that offer customization options are seeing significant boosts in revenue. 1 in 5 consumers is okay paying for a personalized product. Marketers who implement product customization see a 20% increase in sales. One of the ways in which this is achieved is that the value of the product is enhanced since customers are deeply drawn to products that offer inclusivity and uniqueness.

Top Customized Products in 2024

There are different brands offering customized products in 2024, some of these customized products that you, as a business owner, can include for your customers based on your industries and the services you render:

1. Fashion and Apparel:  Designed Bags, hats, shoes, belts, and scarves featuring monograms, logos, or custom embroidery; tailored suits, dresses, t-shirts, and jackets with personalized sizes, colors; or custom rings, necklaces, bracelets with engravings, birthstones, or bespoke designs.

2. Printing and Branding:  Custom-designed cards with personalized text, logos, and finishes; custom posters, flyers, and banners for marketing or events;  personalized boxes, wrappers, and bags with brand logos or event-specific designs.

3. Restaurants: Custom meal kits or coffee subscriptions based on dietary preferences or taste profile;  Tailor-made cakes, cookies, or chocolates for events with personalized designs, names, or themes; personalized labels for wine bottles, craft beers, and gourmet food products for special events or gifts.

Other industries or brands that can make use of customized products include e-commerce platforms, gifting stores, automotive, hospitality and event, toys and games education and stationery etc.

In 2024, Customized products have shown to be a viable way for brands to generate sales, increase customer loyalty and satisfaction and distinguish a brand. In this instance, business owners and brand marketers can significantly intensify their marketing efforts into personalized and customized products.  While you embrace customization, be rest assured of not only improved customer satisfaction but an exponential growth for your business in years to come.

You can follow us on our social media platforms for more updates, tips and trends on branding.