What is product registration rate?
Product registration rates refer to the percentage of customers who voluntarily register their purchased products with the manufacturer or company. When customers buy certain products, especially durable goods like electronics, appliances, or vehicles, manufacturers often encourage them to register their purchases. This registration typically involves providing information such as the product's serial number, purchase date, and the customer's contact details.
Make the process as simple as possible -
A successful product registration process is only possible when you have the lowest drop-off rates. The drop-off rate is the percentage of users that do not submit the form to the total number of users that started filling out the form.
The biggest problem with several registration processes is that brands end up complicating them way too much.
You should try to have the least number of fields in your form, but just enough so that you get the data you are looking for.
When someone has to think about what they want, they’re less likely to complete the process.
Take advantage of the fact that you have their attention by making sure there are no mistakes on the form itself or in its instructions.
Dyrect's 1-click product registration software is the easiest and only 1-click required solution on the market right now.
Make sure your customers benefit too -
An incentive is the best motivator if you want the majority of your customers to register their product, and offer something to them in return.
The best way to do this is by giving them something more than they expected. This can boost customer engagement and at the same time act as a loyalty program.
You can offer your customers discounts on their next purchase, an extended warranty or even educational content if they register their product.
The key is to make sure that the customer has something of value to receive from registering with the company. But how can you make use of the data that you onboard?
Build trust with your customers -
Customers are more worried about their privacy now than ever before. Before they give you your data, they want to know well in advance what you plan to do with it and what methods you use to protect it.
Here are some tips for building trust with your customers :
Be clear about what information you collect and why. Explain how you use it, specifically how it's used for marketing purposes and how long you keep it. If there are any sensitive pieces of information, explain those as well.
Provide clear instructions on how to opt out of online tracking and third-party data collection. You can even let customers know if they're already being tracked through other channels or if they can opt-out differently than just turning off cookies.
Let customers know what happens to their information if something goes wrong (for example, if someone hacks into your website).
Then explain what steps you're taking now and in the future to prevent this from happening again.
Make the form as simple as possible -
The most important factor in increasing product registrations is to keep the form as short as possible. By doing so, you will avoid spamming and overwhelming your customers with questions and reduce your drop-off rate.
You can do this by replacing question fields with dropdowns. This approach makes it easy for customers to choose from a variety of options without having to search through lengthy textboxes or narrow fields.
For example, if you sell multiple products, rather than having your customers enter their product details, you could create a menu of choices that allows customers to select the type of product they want to register.
Allow users to sign in with phone numbers and e-mails -
Let's face it your customers are not overly excited to register their product and remember additional login credentials, their phones and minds are already full of passwords for their favourite apps, social media sites and emails.
But what if you could allow customers to log in with phone numbers and e-mails?
This process is called single sign-on, and it allows someone to register with their existing email and phone number in one click. Once registered, customers would no longer have to remember the credentials and can automatically log in whenever needed.
Product Registration Trends in 2023
Use a product registration solution in place of a website form -
A large number of brands think a form on a website is all they need to get their customer to register their product. But talk to your customers, and you'll realize that website forms are not that good.
The problem with website forms is it is one size serves all solution no matter what product they buy, all your customers will be directed to the same page. As a result, they have to enter details like product id, SKU, model etc, resulting in a high drop-off rate.
When using a QR code-based solution, each QR code is customized for different SKUs and products, cutting down the amount of information needed by customers.
Brands that shifted from website forms to QR code-based solutions saw their registration rates rise by as much as 200%
Dyrect's product registration software does exactly that and allows your customers to sign in with just a single click.
Product registration software is a great way to help your brand increase repeat sales. It's also a great way to build customer loyalty and keep customers coming back for more. And making sure you are great at it can become one of your biggest strategic advantages.