Personalisation is one aspect of branding and marketing that helps build curiosity and relationships with potential consumers. Once you understand the individuals on the basis of their preferences, behavior and demographics then you can lay out a better offer or proposal to the consumer.
To build a personalised product, it is vital to understand your consumer preferences. The fit-to-all approach doesn’t work in the FMCG industry. The fast-moving consumer goods industry has to cater to the individual’s preferences and should match the pace of the changing everyday trends and understand the buyers.
Now let’s understand why is there a major need for personalisation. The caves of customisation add a cherry to the pie. Personalising the products lends help to both businesses and customers.
Customization helps businesses with:
• building customer loyalty
• Improving customer satisfaction
• Improves supply chain management
• Increases the company’s revenue
Customization helps consumers with:
• Potential consumers connect better with the brand
• adds value to consumer experience
• consumer establishes a bond to the brand
Also in the era of digitalisation, personalisation through online platforms adds much more demand for the product than what it was earlier.
This is the reason why FMCG companies find artificial intelligence useful in designing personalized products as well as understanding consumers. This also reduces the time span to reach the consumers. According to research from McKinsey, 71 per cent of consumers demand companies to deliver personalized products only.
Expansion in the personalised sector has different ways to approach the target audience towards their products.
The internet helps in collecting bulk consumer data which can be used later for consumer-specific personalisation.
Some other methods of personalisation could be:
• Connecting to influencers
• Use of digital platforms (social media apps)
• Advertise more regional content
• Interactive packaging design
The fact that personalising products leads to a stronger brand identity. The brands give USP and personalisation hammers the USP exclusively to each individual. In today’s world from food to fragrance industry, everything requires personalization. Personalised products are no longer a luxury but a necessity.
The Success Factor
The changing behavior of emerging consumers gives the brands a bucket of opportunity to emphasize a stronger brand-buyer connection. The heavy data collection is another weapon of today’s marketing sector which enables the involvement of loads of data about the consumers and tracking them every day. Last but not least personalization is a major success factor for brands because it drives more engagement.
Personalisation has grown significantly in significance, relevance, and necessity as a major requirement for businesses. The ruling reason for this is the e-commerce industry because e-commerce has raised standards by applying hyper-personalisation which eventually impacts what customers have grown to expect.
National brands, FMCG providers and other private labels must utilise personalisation to ensure the understanding of their consumers and meet their expectations. Companies that embrace personalisation for their growth can attain a competitive edge by meeting the evolving demands of consumers.
The fact that technology, data, and innovative strategies support these companies in building a more engaging and customer-centric experience, ultimately driving brand loyalty and market success.
To Sum It Up
When you as a brand decide that you no longer want to be a part of the crowd but to outshine others like a champion, that is when you need the magic of customisation.
Personalisation in your products addresses different needs of consumers by offering them tailored solutions that also enhance their overall shopping experience. In a nutshell, customization and personalization is the key to achieving success in the market.
About Author
Anand Nayak, Co-Founder, Chai Sutta Bar
