Can you mass-customize?

October 28, 2022

In this issue, you’ll learn:

How to charge based on how much customization you provide.
Can you do mass customization?

Time to read: two minutes.

Previous issue

For some reason, the previous issue was not sent to subscribers due to a technical glitch, you will find it in the archive and here.

It was about risk reduction value proposition with an example from Apple care.

Profit from lowering your clients' exposure to danger. | Revue — www.getrevue.co

The business builder - In this issue, you’ll learn:How to charge based on how much risk you take.It depends if you have enough customers who have higher probabi

Types of value propositions

Today, we will talk about what's in bold in the list below.

Price
Cost reduction
“Getting the job done”
Risk reduction
Customization
Accessibility
Convenience/usability
Performance
Design
Newness
Brand/status

Customization

It's when your business model depends on how much you change your product to meet the needs of your customers.

At the moment, mass customization is the only way to go if you want to keep your business going and grow it.

AI and 3D printing are two areas that show promise in this area.

Can't grow your service business?
1- Don't keep doing custom work; instead, make products and sell what you know people will want again and again.
2- Make it a regular source of income. Retainers are one way to do this.
3- Check your cash flow and your profit margins.
— Luqman Shantal (@luqmanshantal)
11:56 AM • Jul 23, 2022

4 Types of Mass customization

Cosmetics: Same product, only the way it's sold is different.
Adaptive: The product is made up of building blocks that customers can change as they use them.
Collaborative: Work with your customer to make a product that meets his specific needs.
Transparent: You figure out what the customer wants and change things on the fly based on intelligence, be it human or artificial .

Examples

Cosmetic

Different customer groups can be targeted with different landing pages for the same product or software.

A piece of software for managing teams has different landing pages for lawyers and people in other fields.

Adaptive

I bought a mask for a machine that helps people who have trouble breathing while they sleep.

These masks came in different sizes. To figure out what size you needed, you had to guess or measure the space between your nose and chin.

Since this was still a bit of a mystery, some companies came up with the idea of putting all three sizes in the same package as a module that you could swap out while you slept to see which one worked best for you.

It costs more, but much less than if you bought 3 different masks.

Collaborative

Choosing which toppings to put on your pizza, Pinkberry, or subway sandwich.

If you buy your Mac or iPhone through Apple's website, you can choose the color, features, and model you want.

Or, when you buy a car, you can choose how you want to customize it.

Apple was known for its engraving features.

Transparent

Netflix and Spotify make changes to your content based on how much you use them, but you don't get to choose or know about it..

Wrap-up

Establish your prices in accordance with how much customization you provide to your customers.
Consider and experiment with the 4 types of customization and add what works best for your company and product.