Jewlr Increases Revenue and Owns the Post-Purchase Experience with Extend
“Partnering with Extend is the perfect solution. It adds revenue to the business while adding value and a sense of comfort for the customer. Extend follows through on their promises, which leads to greater customer satisfaction. It’s easy to implement and lets the customer choose the solution that’s right for them.”
Sights set on company growth and expansion
Jewlr crafts custom-made jewelry for any occasion, and keeps their customers coming back for personalized, meaningful gifts by creating a seamless shopping and post-purchase experience. With a robust loyalty program that rewards repeat purchases with discounts, free shipping, and early access to new products, value-added services are central to delighting their customers. As a young brand, they’re not yet a household name. To achieve year-over-year increased market share, Jewlr began implementing growth strategies that would put themselves ahead of the competition and continue to deliver added value — including product protection.
Finding a solution that drives both revenue and value-added service
Daniel Stoppel, President and CEO of Safyre Labs, is always on the lookout for the best value-adds for Jewlr’s customers. Though Jewlr already offered their own one-year product warranties, he saw extended warranties as a necessary innovation for the jewelry industry and a benefit for both the company and its customers. Customers would have peace of mind that no matter what happened to their jewelry — a necklace chain link broke, their ring needed a resize — it would be covered. Jewlr could increase revenue without having to produce more jewelry. And as an emerging brand, offering product protection communicated a sense of legitimacy that would help build consumer confidence.
After assessing the costs, necessary resources, and risks associated with offering in-house product protection, Jewlr felt it was better to partner with a third-party. Taking on the task of building a product protection solution is intense even for larger brands with more funds and resources, so Jewlr needed a partner with unmatched expertise and experience. In a head-to-head comparison of Extend and Clyde, Jewlr determined that Extend was the obvious choice.
The unparalleled benefits of Extend
Superior technology and customer support
With a very large product catalog and complex site backend, Jewlr needed a product protection partner that would be able to integrate seamlessly and provide real-time pricing. Clyde’s solution fell short of being able to provide either, but Extend’s Merchant Services team sat down with Daniel and the Jewlr team to learn about the business and determine the best solution for them.
“The transparency and partnership of the Extend sales process was much stronger than Clyde’s. Extend’s Sales and Merchant Services teams worked with our business to address our unique needs with a tailored solution and the complete confidence to execute it,” Daniel said.
Integration was easy and fast, and Jewlr was up and running with Extend in approximately 3 weeks.
“Although complex and technical, the onboarding process was quick and efficient. Extend really knows what they’re doing."
President and CEO at Safyre Labs
Strengthening customer loyalty and post-purchase customer experiences
Designing, buying, and gifting custom jewelry is a personal and emotional experience for Jewlr’s customers, and they want to know their investment is protected throughout its lifetime. This is especially true in the jewelry industry, where the comfort of being able to go to a local jeweler for repairs is fading as brick-and-mortar jewelers become less common.
“People used to have local jewelers and they had relationships with them. That’s disappearing, but people still want to feel that level of trust and know that if something happens to their jewelry, they can get it repaired or replaced.”
President and CEO at Safyre Labs
With product protection from Extend, Jewlr is able to offer long-term warranties (2, 3, and 5 years) that help foster trust in their brand and keep customers coming back in the event that something gets damaged. That customer satisfaction often results in repeat customers: from a promise ring to an engagement ring to birthstone jewelry for children. Though the jewelry industry is making a shift to digital experiences, Extend makes it possible to still give customers and merchants the opportunity to connect and establish a long-term relationship. Jewlr is owning the post-purchase experience by taking care of their customers’ most valued jewelry, instilling consumer confidence by standing behind their product, and encouraging future purchases.
Building consumer trust keeps customers coming back
No decrease in conversion rate; revenue lift and higher average order value
Once Jewlr implemented Extend, customers quickly began adding product protection to their jewelry. Jewlr ran A/B tests with the Extend in-cart offer open versus toggled shut, and in just 12 days they saw a 300% increase in plan purchases when they had the in-cart offer open.
In the time that Jewlr has been using Extend, they’ve seen no decrease in conversion rate. Additionally, they’ve experienced a lift in revenue and an increased average order value.
Jewelry is an emotional and financial investment, and Extend is helping Jewlr’s customers protect their pieces from the wear and tear of life. Customers are buying with confidence, knowing that Jewlr stands by their craftsmanship, which has them coming back milestone after milestone and holiday after holiday.