When you think about product protection, you might think its only function is to repair or replace damaged items. After all, that’s a key selling point for customers. But truly, product protection offers far more than that.
Yes, product protection is a form of damage control when things go wrong. More importantly, product protection plans are opportunity creators for businesses. They offer you a chance to wow your customers — even if they never file a claim.
Done well, modern product protection can boost your customer experience for the better. Here’s how.
Online shopping may be the norm today, but that doesn’t mean consumers are stress-free when they click “buy now.” Many people still feel nervous about completing online transactions, especially if they’re buying an expensive item. They can’t see or hold the product; all they can do is put their faith in product images and the seller.
Product protection is a way to reassure those customers. If they buy a protection plan, they know their product is protected. Depending on the terms of their purchased plan, if something goes wrong with the product, getting a repair or replacement can be as easy as filing a claim.
For product protection to reassure customers, they have to understand how the plan works. That’s why it’s so important to educate customers by communicating the benefits of product protection whenever appropriate.
Your product page is an excellent spot to explain the benefits of product protection. The plan details don’t take up tons of space, so you don’t need to be worried that the text might complicate your site and lead to cart abandonment.
For example, Peloton's checkout has a ‘learn more’ link for customers curious about their warranties. Instead of taking customers to a new page, the link opens a pop-up with warranty information where the customer can also learn more about adding an extended warranty. Shoppers can call the listed phone number or start a live chat if they have further questions.
Peloton also uses their support page to provide product protection details. Follow their example by using FAQ pages to explain what plans do and don’t cover. Damage due to misuse of the product, for example, is not normally covered.
Beyond your own site, highlight the many advantages of your product protection plan on social media. Let online shoppers know how your plan is tailored for your industry so they feel comfortable making a purchase.
This example from Touch of Modern shows how product protection can be used in social posts as a great talking point that reassures customers.
While consumers enjoy the convenience of recommendations, they also like making choices for themselves.
Modern product protection plans give customers the best of both worlds. The protection options are tailored for the product they’re buying, but customers still have the power to choose which plan term they want.
Here’s another example from Peloton, who offers a 12-month limited warranty as their standard plan, and customers can upgrade their plans by either 12 or 27 extra months.
This choice puts Peloton customers in control at checkout — even if they don’t upgrade their plan.
Customers don’t just get choices with modern product protection plans; they’re also choosing between protection that is tailored for the product they’re buying.
Modern product protection providers resolve issues quickly on channels convenient for customers. But traditional product protection is often frustrating and slow. Claims can take days, weeks, or even months to resolve, creating a terrible customer experience.
Extend, on the other hand, resolves most claims in minutes. Our platform gives claimants the hassle-free customer experience they expect via live chat with a virtual claims assistant on our website.
Extend’s product protection is so streamlined that many customers point to it in their product testimonials:
"So fast and easy. I purchase Extend plans on all electronics that are prone to power surges that always happen where I live." — Jordan G.
For more testimonials emphasizing speed and convenience, visit Extend’s customer page.
While the specifics can vary from plan to plan — some require the option of repair to be fully explored before a replacement is approved — modern product protection providers like Extend send customers back to the merchant store to help them find the right replacement product.
This assistance is a win-win for customers and merchants. The shopper gets to find a product that’ll work for their needs, and they might even discover a product that’s better than the one they initially bought. For example, a Dallas Golf customer who initially bought a graphite driver may find a replacement driver with a better grip that weighs less.
And for merchants, this repeat “foot traffic” is an opportunity to keep the customer’s business — and maybe even get an upsell. For example, the customer purchasing the graphite driver may find a single iron to pair with it that they add to their order.
When a customer experiences a product failure and files a claim with Extend, your business has a valuable opportunity.
In addition to functioning as a touchpoint for providing stellar customer service, product protection programs can provide a rich source of data about the challenges your customers face with your products.
For example, if there’s a repeat issue with a product that is appearing in the claims your customers file, this could indicate that a slight design tweak could improve the product and prevent accidents or malfunctions from occurring in the future.
By implementing a change like this based on real data, you can literally make better products. And better products create happier customers!
Product protection can be a game changer for both your business and your customers. To discuss the full details on how to get started with offering product protection from Extend, get in touch with us today.