Customer data will drive business growth going into the future, but as third-party cookies continue to decline, brands are looking for ways to equip themselves with first-party data to re-market effectively. But is collecting first-party customer data that easy?
Nearly half of marketing leaders say they are not adequately leveraging first-party data sources in their marketing decision-making, according to a recent Forrester study commissioned by Eyeota.
Product Warranty Registrations - a process by which customers of a product can register their warranty with the brand to automate their claims process, is an amazing opportunity to collect first-party customer data.
Customers are often excited about new purchases and are extra cautious to set up all the necessary documentation. Having an easy digital warranty registration software to take advantage of this can skyrocket customer data acquisition.
What are the advantages of collecting first-party data with warranty management software?
When customers register with your brand, they provide their contact information and other details that help you better understand them and their needs.
1. First-party customer data is available from all your customers, in one place, including your marketplace and offline retail customers. This means you can view customer information like purchase history, contact details and more, all on a single dashboard.
2. You can build custom reports for each customer that show their past behaviour and give you information on how to sell them the most successful products in future. This can help you to send targeted emails and remarket effectively to retain maximum customers.
3. Digital warranty management software helps you maintain a record of all products which your customers buy, making warranty registrations and claims extremely simple.
How can you collect first-party data during customer onboarding?
The users can scan the QR code with any app even their phone camera. The QR code directed users to a custom build web app, wherein users can register their warranty for any future claims in just a single click.
The users do this by entering in their personal and product details, with single-sign-on features enabled giving them the option to sign in through Google and Truecaller.
This meant that users did not have to remember their credentials for signing in and all the details submitted were verified.
Once registered, customers can be reached by email, SMS and WhatsApp (using the data provided on the web app) with confirmation messages and links for future claims.
This enabled brands to reach every customer personally, including Amazon and retail customers, opening up remarketing and reselling opportunities.
Whenever a customer wanted to claim a warranty, all they had to do was go on the web app, using links on their emails, SMS and WhatsApp, and click a button.
Find out the top 5 warranty registration software going into 2023
Leading brands are using warranty registration to collect first-party data.
Consumer electronics giant Wayona knew the importance of first-party data but was struggling to get it as they were heavily dependent on marketplaces and offline retail for their sales.
In partnership with NeuroWarranty, the brand focused on its customer onboarding process to get first-party customer data and engage customers. Equipped with first-party data of its customers Wayona was able to increase its repeat sales by a whopping 28% and bring down its customer support costs by 50%.
Customer onboarding is a vital opportunity to collect first-party data.
Using the onboarding experience to get first-party data allows you to engage your customers with other offerings while they are still in the buying phase, versus retargeting the current product owner in other, less effective mediums.
In addition to related products, customer onboarding is an excellent opportunity to sell product subscriptions, extended warranties and premium services.
We hope you found our blog helpful. The NeuroWarranty warranty software is trusted by 100s of leading brands including - Syska, JCB, and ResQtech.
You can sign up for the warranty management software by scheduling a demo and getting a free 14-day trial here - get a demo when you schedule a demo, an account manager will contact you and organize a call to discuss your business requirements.