Customers Signing up for Warranty
- The growth rate of consumers registering with paper, digital or mobile means was superior to 10% in 2018, driven by a 63% growth for mobile registration.
- Paper registration rate has grown by 9% and web by 5% in 2018.
Methods used for Registering
- 52% of consumers registered for the first time when it became possible to do so on mobile.
- In 2018, 38% of registrations were conducted through the web, 34% on mobile, and 28% on paper. Paper used to represent 40% of registrations in 2016.
- Around a third of baby-boomers registered with paper in 2018, compared with less than 20% for millennials.
- Over 80% of millennials prefer using digital means to register their products.
Reasons for Not Registering
- Owners tend to not register because they find that the registering experience is complicated, and because they feel they should be rewarded for it with incentives.
- Incentives can improve registration rates by 10-15%.
- Owners tend to register more if they do not need to provide serial data and product model.
- Making the registration process simpler can improve registration rates by 24%.
- To have an option to register by mobile can increase the speed and the number of registrations.
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