Resident doubled their attach rate after choosing Extend over their previous product protection provider
“There are a lot of options on the market, but Extend is the provider that knows best how to deliver solid product protection to your customers. They really take the time to understand your business’s needs and work with you to create a plan that delivers. Their technology is modern and reliable and creates a fantastic customer experience.”
Designing for style, function, and quality
At Resident, they believe a living space shouldn’t just look good, it should feel good, too. Their suite of brands — Nectar, Dreamcloud, Siena, Awara, and Cloverlane — offer high-quality mattresses, bedding, bed frames, furniture, and bathware to make their customers’ homes both beautiful and comfortable. Customer satisfaction is Resident’s north star, and they’re always looking for ways to improve internally and expand on the value-added services they offer. So they decided to look into adding product protection to their products to cover their customers’ purchases well beyond their manufacturer’s warranties.
In need of coverage beyond the manufacturer’s warranty
According to Steve Ryan, Managing Director - DTC at Resident, the company wanted the opportunity to offer their customers an even more enhanced protection policy on top of Resident’s already industry-leading warranty, for a more holistic and customer-friendly experience. They wanted a product protection provider who could offer their customers more streamlined, modern protection and better understood the mattress and furniture industries. After evaluating a number of providers, Resident felt Extend was best suited for their needs.
The unparalleled benefits of Extend
Customer-first product protection
Resident is obsessed with delivering the best possible customer experience; the biggest reason Resident chose Extend over other product protection providers was because they felt Extend offered a more elegant, more customer-centric user experience for their customers. “Extend is ambitious and, after listening to our business needs, explained clearly what they could do for us and demonstrated a true understanding of our industry and, importantly, our customers. Our Executive Vice President of Customer Service was very impressed with how customers interact with Extend and felt it was the best option to give them a seamless experience,” Steve said.
Kaley, Extend’s virtual claims specialist, makes it easy for customers to file claims online 24/7, on their schedule, and receive a resolution within minutes. They can also talk to a friendly Extend team member over the phone if they’d prefer, ensuring that no matter which way they reach out, they’re receiving responsive, fast support.
Taking the weight off of internal teams
The self-service nature of Kaley means that Resident’s customer service team doesn’t have to field product protection claims. This keeps their focus on resolving other customer issues efficiently. This also keeps Resident’s product and development teams focused on internal initiatives rather than having to find the resources to build out their own product protection solution in-house. “Any time you make a switch from one provider to another, it requires a lift from the dev and product teams, so there needs to be a very compelling reason to make that switch. Extend was the first company that came through with a big enough reason for us to do it,” Steve said.
Merchant support that doesn’t stop at go-live
Extend’s Merchant Success and Engineering teams made sure the lift to go-live was minimal for Resident’s teams — and continued to provide Resident with responsive support long after. “The support we’ve received has been excellent,” Steve said. “Everyone we’ve worked with really understood what we were trying to achieve and were very open to developing a partnership together. We went live within weeks. They continue to be communicative and respond quickly when we reach out; they’re really great to work with.”
Protecting the products customers rely on daily and building brand confidence with each plan sold
2x attach rate, upleveled post-purchase experience
Since partnering with Extend, Resident has doubled their attach rate of product protection plans compared to how many they were selling with Mulberry.
Resident is now better empowered to own their post-purchase experience, and sends out post-purchase emails to customers who purchased one of their products but didn’t add a protection plan. This is helping to drive even more incremental revenue, as they work to build brand confidence and encourage customers to add on plans. Resident’s customers can now sleep easy, knowing that accidents like spills, pet accidents, punctures, and other damage will be covered by their Extend plan, and won’t compromise a good night’s rest on their mattress or bed.