When customers, especially new ones, buy your product, they want to know that they are getting the best. The best product, the best service and the best protection when something goes wrong.
This is where insurance joins the game. Give your customers the feeling of safety they are looking for when purchasing a product. This is a more significant feeling than simply adding a “secure site” button or credit card symbols. If your customer has doubts before purchasing, providing insurance will make them go away. You’ll also increase your revenue while you’re at it. In this article, we will discuss the benefits of using insurance as an upsell.
Why Should I Add an Insurance Option to My Site?
Insurance is an upsell that your customers purchase willingly and without hesitation.
Think about when you purchase a product. You want to know that you’ll be protected if something goes wrong. You’ll usually be willing to add an extra payment for that reassurance.
Now put yourself in your customer’s shoes. If you add an insurance option, chances are that they’ll take it. Insurance isn’t expensive typically, it makes customers feel good, it increases your bottom line and in most cases, it isn’t used!
With our insurance add-on, you can add insurance to your products in just a few minutes. Our drag and drop feature allows you to customize insurance options based on products. Set up different plans, prices, details and more. If you’re using a third-party insurance agent, don’t forget to mention that in the details section and add a link to the relevant site.
What Types of Insurance Can I Add?
- Product Insurance – Product insurance is the most basic form of insurance. It will allow your customers to exchange or receive repairs if something goes wrong with the product. It’s important to set boundaries here. What is included? How long is the insurance relevant?
Product insurance is a great upsell. Your customers will be eager to know that they are covered if something goes wrong. In most cases, nothing will, and you’ll make a profit off of the insurance sale. Your bottom-line will increase and your customer will feel more comfortable pressing the purchase button.
- Shipping Insurance – If you’re an e-commerce seller, you know what a big part shipping is in your business. You rely on your shipping company/the post office to get your products to your customers in a timely and organized manner.
So what happens when your product doesn’t arrive on time, gets lost, arrives damaged or even is stolen from your customer’s porch?
When a customer purchases shipping insurance, all of these cases are covered. They won’t need to worry about being disappointed by the shipping process and you get an easy upsell. You can do the insurance yourself or take an outside company to handle disputes for you. Make sure to add these details to the product.
- Lab repairs – If you have a product that could potentially need lab repairs, it’s worth it to add lab repair insurance. This insurance will cover your customer if s/he is in need of specific repairs.
Insurance is an easy upsell option to add to your Shopify store. Customers want to have the feeling that if something goes wrong with their purchase, someone will take care of them. Using upsells to boost your revenue is simple and benefits both you and your customer by giving them easy access to options that will cause them to click “purchase” feeling more secure. Enjoy!