Post-purchase commerce is one of the easiest ways to unlock new revenue without seeking new customers. In fact, it can be the beginning of a new kind of relationship, one that’s built on trust, helpfulness and personalized offers. Fully engaged customers who have been presented with post-purchase opportunities represent a 23% premium in share of wallet, profitability, revenue and relationship growth over the average customer, making active, existing customers an incredibly valuable asset to any brand.
Studies show that over 70% of people are more likely to buy again—or tell a friend—if they receive helpful, personalized interactions after their first purchase. This is where ownership experience software really shines. By using first-party data collected during onboarding (like product registration), brands can offer products and services that match each customer's specific needs and timing.
Here’s how post-purchase commerce works:
During onboarding, after a customer registers their product, they can be offered:
Did you know?
Most customers trust extended warranties that come directly from the brand over third-party providers.
After onboarding, brands can continue to make personalized offers throughout the ownership journey. These offers can be tied to:
With the right ownership management technology, embedded commerce can be built into your ownership experiences so it’s easy to create new revenue streams and strengthen your customer engagement. And when every post-purchase commerce option presented to customers Is based on contextual queues, sales are higher. This is a low-risk, low-cost and high-margin way to sell directly to your existing customers whether or not you have your own e-commerce platform.
This blog was the last of our four fundamental Pillars of Customer Engagement Framework:
It concludes our Customer Engagement Blog Series, focused on four framework pillars and key strategies to help brands better connect with their product owners. As we wrap up our customer engagement framework, we are now ready to talk strategy! Stay tuned for our upcoming downloadable guide with insights into customer engagement strategy as we apply the framework for proven scalable results.