Over the last decade, e-commerce has transformed the way customers shop for goods and services. Consumers’ expectations are higher than ever before.
As e-commerce sites compete for business, they must go the extra mile to keep customers coming back. Customers want things like fast delivery, free shipping, and product protection.
Among these, product insurance helps build customer confidence and brand loyalty. Offering insurance at checkout gives customers the security to keep coming back.
Are you looking for ways to improve the customer experience?
Here’s what you need to know about product insurance.
What Is Product Protection?
There are numerous benefits to offering insurance protection at customer checkout. When customers opt for product protection, they know their item will be repaired or replaced if there’s a problem.
This gives customers peace of mind, knowing they are making a wise purchase. Protection covers a variety of issues a customer may encounter after making an online purchase.
The two main coverage types include:
This extends the product warranty beyond the standard terms of coverage. This protects the customer in case of a mechanical or electrical failure that occurs after the warranty expires.
Extended warranties are good for home appliances, TVs, auto parts, and other purchases that are supposed to last a long time.
Accidental Damage from Handling (ADH)
This type of protection covers mishaps like dropping your laptop, spilling your drink on your handheld device, sitting on your sunglasses, etc. This is the kind of coverage Apple offers for cracked screens.
An ADH plan starts on the delivery date of the product and extends beyond the manufacturer’s warranty deadline.
The demand for checkout options like product insurance is growing. Customers have options.
If you want to win their loyalty, you have to give them incentives to keep coming back. When a customer buys an expensive product, they want assurance that they are protected if something goes wrong.
Product protection puts customers first. Insurance at checkout helps you build customer confidence and loyalty.
Turn customers into fans of your brand with insurance protection.
Some product protection benefits include:
- Customer peace of mind
- Increased motivation to buy
- Frictionless purchases
- Improved customer experience
- Customers become brand advocates
- Repeat business
- Reduced cart abandonment
- Increased conversion rates
The Value of Product Insurance
Product insurance helps reassure customers that their purchases are protected. This checkout option demonstrates concern for your e-commerce customers and confidence in the products you sell.
Product insurance allows you to track data to see what’s working for your business. It helps keep your customers satisfied and coming back to your brand time after time.
At Checkout Champ, we know the value of customer checkout options like insurance protection. We’d love to help you find ways to enhance the checkout process for your customers and boost your sales in the process.
Contact us today to get started.