With consumers becoming more demanding than ever before it pays to understand what customers want and what they’re willing to pay for personalisation.
One of the highly relevant aspects for our industry covered in Fifth Quadrant’s latest research on Customer Experience is the subject of personalisation.
While personalisation has been a cornerstone of the photo, framing, pro photography and print business it is becoming more topical and important as consumers appreciate what can be done with the images stored on their phone, camera or computer. And research is helping us realise the potential for personalisation as consumers increasingly quantify the value they receive from personalisation.
In this latest research consumers say they want to be treated like an individual and be involved in the creation of personalised services and products. Fifth Quadrant’s research shows that when it comes to the issue of personalisation:
- 78% of consumers agree they would stay with a company that understood them as an individual
- 59% want to be involved in the co-creative of a personalised service or product
- 50% would pay more money for a personalised product or service
Further findings illustrate that consumers are willing to pay more and chose a company that offers personalisation.
- 71% of consumers are prepared to pay 10% more for a co-created experience
- 42% of consumers are likely to chose a company that gave them the opportunity to be involved in the design of the product or service
- 23% of consumers are forced to leave or change providers because that provider was not prepared to work with consumers to meet their needs
So no matter which part of the retail or wholesale sector you’re involved with when it comes to running a photo, framing, pro photography or print business you should get on board the trend to personalisation.
How we can help
At Photo Direct we have a range of products and services to enable you to offer and promote personalisation to your customers.
My Tego is a very good example as is our Photo Restoration service. Both these services are designed to meet consumer desire for personalisation by co-creating photo products using the images consumers have stored on their phones, cameras or computers.
Likewise we have a number of equipment and software solutions that help bring alive the opportunity for co-creation in areas such as Event Photography or the making of personalised products like photo books and calendars.
Personalisation has much more to offer your photo, framing, pro photography or print business than you first might think.
Personalisation pays in that it helps to improve the overall Customer Experience, it provides your business with a distinct competitive advantage, it helps increase sales and profits and it helps you become more innovative in your business offering.
Not only can you do more through personalisation but also you can make more money from those customers who value and appreciate your treating them as an individual.
To further discuss the potential for personalisation in your business contact us now.