Developing and launching a warranty, extended warranty or service contract program is critical for OEMs, retailers and service providers for a variety of reasons.
Most contract programs focus on increasing revenue at the point of sale. However, to really make measurable improvements in brand loyalty and to increase repeat sales, you also have to focus on delivering awesome service experiences post-sale. So, how does an OEM or retailer create an innovative warranty product like a service contract program which is impactful for consumers, that also generates revenue now and in the future? By focusing on the fundamentals, of course! When building or sourcing a warranty and service contract program from a insurer or third party administration, watch for the following, including:
- Product Development
- Compliance and Legal
- Sales and Marketing
- Operational Administration
In our latest e-book, you can learn about everything it takes to build a successful service contract program. Download it to learn more!