Denver, CO — Today, 54 percent of all product searches begin at Amazon, 35 percent of these purchases take place via mobile devices, and over 90 percent of them move on to completion. These numbers perfectly illustrate the significant shift in customer behavior over the last two decades. Back in 2001, as product brands were reliant on retailers to push their products to the end-user, consumers used to build a relationship with the retail stores instead of the brands themselves. Subsequently, as Amazon became the online megastore behemoth it is today, retail businesses were at a significant disadvantage, as they could not simultaneously lower prices and margins while increasing the choice of products for consumers. As a result, brands are increasingly putting a strategic focus on building and preserving customer loyalty themselves by emphasizing identifying owners and offering branded experiences. By achieving this, brands aim to effectively identify the individuals who buy their products and improve their direct engagement with them. However, owing to the older, ineffective, and cumbersome registration processes leveraged by consumer product companies, brands and consumers alike find it difficult to gain real value from their products and purchases, respectively.
Enter Registria, a Colorado-based firm that addresses this challenge by simplifying owner identification and ownership experience for consumers, thereby helping brands to build effective long-term relationships with them. With a team of veterans in the technology landscape, the company recognized that the core challenge hindering brands from building long-term client relationships is the lack of avenues to capitalize on the untapped opportunity of customer engagement. Cohen believes that brands must realize the changing dynamics of how consumers engage with them and work toward creating direct relationships to create value.
Registria helps brands leverage cutting-edge engagement avenues with its portfolio of innovative solutions. And as brands recognize outcomes of ensuring an onboarding experience instead of dated consumer registration approaches (i.e. paper cards), Registria’s solutions are widely availed by appliance and consumer electronics firms, travel organizations, outdoor equipment companies, among others. All of the company’s solutions revolve around a value/friction ratio with the goal to reduce friction for the customer and brand to engage, thereby increasing value for both parties. To this end one of the ways to identify owners, is using Photoregister℠, a proprietary technology that allows consumers to register their products by simply snapping a photo of the product details on the label or packaging. Photoregister significantly reduces the time required to register a product, which minimizes the registration friction for product owners while enhancing the value for consumers and brands alike. The company also provides technology that supports UPC code and QR codes as well. At the same time, the company provides an intuitive and easy web registration process as well as voice-based registration via in-home devices like Google Home and Amazon’s Alexa.
“Our portfolio comprises a variety of legacy and leading edge methods to help brands identify product owners,” states Collin Cohen, managing director at Registria.
Registria also brings an all-in-one mobile application, called Register, which is another way brands can help consumers register products swiftly and manage the product documentation for all of their appliances. Unlike dedicated apps developed by individual brands, Registria’s offering allows the management of product information for multiple brands, which enables seamless archiving of essential product information such as warranty details. This app can also perform product-related transactions directly with the brand. With respect to customer support, the app facilitates consumers to raise support tickets and use helplines, when needed.
To highlight the efficacy of the company’s solutions, Cohen mentions a success story where Registria helped a client to increase their product registration rates significantly. Before collaborating with Registria, the customer had an overall registration rate of 8 percent. However, after associating with Registria, the client was able to increase that number to over 50 percent. In addition, the company’s ability to encourage better support enabled its customers to boost their service plan sales to a record high figure and establish new revenue streams via the provision of support accessories that were previously offered by third parties.
Moving ahead, Registria plans to leverage its unique and extensive data set that spans multiple industries to allow clients to gain critical insights and confidently identify their current and potential consumers. With this capability, the company expects to assist clients in developing effective marketing strategies and saving organizational resources. This plan, combined with Registria’s innovative portfolio, perfectly equips it to enable brands to understand the relevance of minimizing consumer friction and creating long-term customer value. “Every consumer experience has some components that work and some that don’t. At Registria, we assist brands in understanding this equation and providing solutions to help them deliver value,” concludes Cohen.