Registria's report offers insights into the ownership experience including consumer preference for mobile as the onboarding method
DENVER, CO (June 13, 2019) – Registria unveils its fourth edition of the State of the Industry Report, which provides insights into consumer behavior and sentiment regarding the onboarding experience – the key moment when a consumer registers their new product. The report shows that product owners increasingly want to engage with the brands they own immediately after a purchase. Consumer behavior trends also demonstrate that when the onboarding experience is straightforward and convenient, using the channels consumers prefer such as their smartphone, they are more open to post-purchase offers and future communications from brands. These trends define the title of this year’s report: The Rise of the Engaged Owner.
The report is based on the analysis of millions of data points from more than 130 million consumer onboarding events. This year’s report begins to examine the value of when consumers engage with brands, how and why they register, and their desire to connect with the brands they own during the full lifetime of ownership.
Highlights include:
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Consumers are increasingly registering products with double-digit registration growth rates year-over-year. Mobile registration through Photoregister℠ grew 63% year-over-year and continues to be preferred over mail-in-cards or website onboarding methods.
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The impact of mobile methods on first-time registrations and speed to register. More than half of product owners registered a product for the first time, and nearly 50% of total registrations occurred within the first week of ownership. Consumers rate their Photoregister experience 4.5 out of 5 stars for the third consecutive year.
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Completion rate benchmarks across digital methods, and the likelihood a consumer will purchase an extended warranty, service plan or related merchandise during the point-of-registration – opening up a new sales channel for brands with improvement in attach rates.
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Insights into younger generations, such as Millennials, and their preferences, with 80%+ preferring digital onboarding methods.
“We’re seeing firsthand how the leading brands we work with are shifting to a customer-centric mindset to capture greater customer value and guard brand equity,” notes Chris McDonald, Founder, Registria. “This strategic shift has transformed product registration from a transactional event to a value-added onboarding experience. We attribute the undeniable power of mobile to provide a frictionless and engaging first experience which creates more immediate value for brands.”
About Registria
Registria is a leader in developing post-purchase ownership experiences for more than 300 consumer durable brands. From the moment customers open their products, Registria helps brands build high value, lifelong customer relationships. Hundreds of the most recognized brands in the world use Registria’s award-winning technology to onboard their customers. Registria’s owner and engagement services bring greater clarity and understanding of how companies can build profitable product owner relationships, and provide direction on how to engage with and provide valuable, meaningful moments to them.
Media Contact
Heather Wilkerson | Registria
Phone: 720.273.0515 | Email: hwilkerson@registria.com