We’ve identified five connected customer types and examined the relationship each type has with the connected products and services they buy. In our six-part series, we’ll reveal the psychographic data of each type and how you can use this data to develop a tailored sales strategy, create unique training opportunities, and drive revenue.
Leisure Seekers are Looking for Premium Smart Home Entertainment Within Their Budget
Connected devices help us better enjoy our leisure time by making it easier to connect to the people we love and the things we like to do. We can check in on our family and friends as well as enjoy our favorite shows, tunes and viral videos anytime, anywhere.
Consumers value these capabilities even more now that they’re spending more time at home. Family members can stream their favorite shows and music on their own connected entertainment devices, so there’s no fighting for the remote. They can also use video chat and gaming to spend time with friends. But, for Leisure Seekers, there’s one thing standing in the way of fully enjoying their smart entertainment systems: the expense. Some consumers think that the value they get from connected technology may not be worth the cost.
To help brands thrive in the age of the connected consumer, Assurant has surveyed thousands of people to understand their wants, needs and frustrations. Our data uncovered five specific types of consumers:
In this blog, we’ll explore the needs of Leisure Seekers, a group that loves streaming connected home technology but has concerns about the cost of ownership and protection for their connected entertainment devices.
Leisure Seekers Want High-Quality Connected Entertainment Devices
Leisure Seekers are the second-oldest segment of connected consumers. They tend to focus on finding the best way to enjoy life’s simple pleasures like hanging out with friends and family, watching movies, binging on trending shows and playing the latest video games. While past generations might focus on building the ultimate home entertainment system or home theater, today’s Leisure Seekers build home entertainment ecosystems that are always available whenever or wherever they want it.
Because most Leisure Seekers live in rural areas, they don’t have ready access to movie theaters and concerts. So they tend to seek out these experiences in their homes. Leisure Seekers each own an average of five devices, which makes up roughly 25% of all connected products in the U.S.
Consumers in general are willing to pay for streaming services, but younger consumers are willing to pay more. On average, $9.97 is the highest monthly fee people will pay to try a new video streaming service, according to our recent Connected Decade survey. But Generation Z members are willing to pay up to $15.12, and millennials will pay up to $14.72. At the other end of the spectrum, baby boomers will pay $6.36 a month at most, while older consumers will pay only $5.55 for the same service.
Leisure Seekers Worry About Broken Devices Breaking the Bank
What’s keeping Leisure Seekers from building their ultimate digital smart home entertainment ecosystem? For 28% of them, it’s the fear of breaking an expensive device. Connected products can be pricey, especially when purchasing multiple devices for all of the family members in one household. And paying for repairs or replacements on top of that can be a deterrent to taking the leap.
This is where they’ll need your help. When you educate Leisure Seekers about extended warranty options, you’re helping to protect them from the high cost of repairs and replacements. Because 30% of Leisure Seekers told Assurant they worry about the additional expense of a warranty, take the time to show them that it isn’t just an added cost — it’s added value. An extended warranty is an investment in their entertainment experience. And, because warranties are proven to increase customer loyalty and satisfaction, it’s a win-win.
Connect Leisure Seekers to Added Value
Leisure Seekers want convenient access to their favorite entertainment platforms. But they don’t want to worry about the expense of repairs and replacements. This is an opportunity for brands to add value to their connected products. Extended warranty programs help consumers save money in the long run, allowing them to easily solve technical issues and keep life streaming smoothly.
Offering a warranty can also help grow sales, according to Assurant’s Connected Decade survey. For video game consoles and set-top streaming boxes, including an extended warranty increases the likelihood of purchase by 22%. That likelihood increases by 21% for smart TVs and DVRs.
And when you bundle warranty products with other services like continuous tech support and how-to guides, you not only increase the perceived value of your products, but also build the perceived value of your brand.
Discover the details of the connected product community in our latest white paper. You’ll see how the right partner can help you support and protect every connected consumer while keeping them all connected to your business.
To learn more, Contact Us.