What to consider when choosing an extended service plan partner
By Chad Evans, VP of Merchandising
We have all experienced fewer customers coming to our websites and through our doors over the last several weeks. Things have slowed down after the holiday rush. Your goal now should be to maximize each customer who does come to your website or store by selling things like accessories, add-ons and extended service plans.
Regarding extended service plans, there are many different providers in the marketplace.
Things to consider when selecting a warranty partner
To begin with, it is important to know that AVB has fully vetted its approved extended service policy providers. If you are considering other providers, you should also confirm that they are fully licensed, insured and legally compliant in all states.
Be wary of potential partners that require a deductible from your customer, or that require your customer to register their warranty. Also, as many BrandSource dealers are self-servicing dealers, you need to make sure that you are getting the right of first refusal to perform service under the contract at the time the Servicer Agreement is signed. It can also be important to give you, the selling dealer, the right of first refusal to provide replacement products in the event they are needed.
Ask yourself, why you are selling warranties in the first place?
Is it to make more money on each sale? Of course!
Is it to offer you customers peace of mind? For sure!
Finally, is it for you, the retailer, to not have to worry about the issues that may pop up when there is a product issue? Absolutely!
The lowest price does not always equal the best backend support and service. This is truly the reason why you are even selling an extended service plan in the first place.
Making More out of Less
As it becomes more and more important to serve each customer who comes in your door, take the time to make sure you have all of the goods and services in place to offer everyone who walks through your door the best end-to-end experience.