I wish I had a nickel for every time I heard someone say “consumers today are more powerful than they have ever been” or something along the lines. The underlying assumption being made is that more choices mean we can pick and choose what suits our needs. Freedom of choice leads to happier consumers.
Seems like a pretty reasonable assumption to make, right?
In his book ‘Buyology’, Martin Lindstrom points out that the fewer the choices consumers have to make, the more satisfied and confident they may feel with the outcome of their decisions. That’s why Apple products have standard features. More options, more complexity, more confusion; less happiness.
Sheena Iyengar also talks about choices and how they affect us. According to her, often the fact that the decision lies in our hands brings us frustration and anxiety. If we make the choice, we feel responsible for the consequences. Sounds to me like someone is passing the buck here. This led me to ask the question:
Catering to individual consumer needs requires a lot of resources and effort, so it really worth it?
Definitely. It’s also the right thing to do. Why? Because customization doesn’t have to mean more options, instead it can be better ones. If consumers are empowered, so are companies. There are more ways than ever to reach out and show that you care.
Done with elegance it can be the best way to attract, retain and grow a customer base. Advanced CRM systems and knowledge databases even enable firms to preemptively predict with some degree of confidence what the consumer wants and when. Making a thoughtful gesture is not the same as lading out options to satisfy every whimsical desire.
