Perceptions of Product ‘Value’ are Evolving

The national cost of living crisis is dominating daily life. The aftermath of the pandemic and the ongoing war in Ukraine, inflation and the climate crisis have taken their toll and much of the public focus remains solely on meeting basic living needs, which has shifted perceptions of what consumers value the most. This is making it increasingly difficult for brands to adapt to the evolving financial climate and the consumer habits which accompany it.

Although some brands have successfully taken steps to adjust to these new consumer habits, such as expanding their focus on customer research, others have fallen short. However, in the absence of added value customers will simply shop elsewhere. Value for money has always been important to consumers, but many now expect companies to offer more than just that. In a world in which people have less disposable income to spend on luxuries, by considering how added value can be incorporated into our products, we have the solution at EverythingBranded.

 

1. Product Personalization

 

Not only do personalized products often generate larger profit margins, but they also offer additional appeal to prospective customers. Around 36% of consumers are willing to buy personalized products, according to an investigation carried out by auditing giants Deloitte. This mass appeal stems from the ability of our personalized products to garner public attention and cater to specific interests, such as humor, sports or perhaps a favorite superhero.

According to new findings by the GreenPrint’s Business of sustainability Index, the environmental impact of products is deemed a rapidly growing need for 77% of American consumers and it is important that companies adjust accordingly. We add value to our services by offering the personalization of eco-friendly products, such as notebooks and shopping bags. The current market primarily offers customization on items which compromise the environment; thus, this type of personalization is a unique service which caters towards a growing consumer need, giving extra appeal to eco-friendly goods.

Additionally, other promotional products which are not specifically categorized in our eco-friendly section can often be everyday items (such as pens and mugs) which may be used time and again in many different scenarios, such as at a conference or a business exhibition or in the workplace and even the home. These offer a sustainable and durable options for companies wishing to become more environmentally conscious. Given the expected long lifespan of promotional products, they will add significant value to your business by creating a long-lasting impression on your target audience.

Personalization also adds value because it returns great customer insight which fuels a positive feedback loop. Here, your company can take this customer feedback to improve its services and processes going forward. Given that companies who do not offer personalization can only gain insight on the mass-produced products they have in stock, offering this service allows the marketers for your business to understand the specific likes and needs of customers, and the online shop may be tailored accordingly.

 

2. Personalization and the Customer Experience

 

Focusing on and becoming receptive to what customers really want is an essential part of cultivating our broad and loyal support base, especially when these needs are changing so rapidly as a result of developments in the world around us.

Ensuring that every touchpoint and interaction with customers is seamless and stress-free is incredibly important to attract loyal customers. Using promotional products to kick start the initial contact point where customers first hear about your brand offers an easy and user-friendly way to get your name, logo, and message out there. By being handed something physical, people are much more likely to remember your brand and be willing to work with you or use your services in the future. If customers can get what they want from the services you offer time and again and have a great experience in the process, they are likely to remain loyal to your brand because they can’t get what they want elsewhere.

This brand loyalty, created as a result of happy customers, works in turn to promote you via word of mouth. It’s predicted that over 90% of consumers are more likely to trust word of mouth recommendations from people they know than they are from any form of advertising. In time, the creation of brand loyalty is converted directly into an increase in profits and the longevity of your business.