Making the Warranty Connection
Some add-ons are a hard sell on the front lines of retail. Consumers still wading through the molasses of economic recovery are averse to splurges, staying focused on the bare-bone necessities for their next purchase. But that very same sentiment aids retailers in pushing warranties, an add-on that offers tightly belted customers the peace of mind they need when making a large purchase. Here’s what execs at some major warranty companies said about what they have planned to help dealers make more warranty sales in 2015.
AIG WARRANTY, U.S. & CANADA
Jim Mostofi, U.S. Service Programs Head & President
For retailers, enhancing the relationship with their customers will be a key factor for growth in 2015. To grow extended service contract programs for consumer electronics, major appliances and HVAC systems, retailers should maintain a vigilant focus on in-store fundamentals to address their customers’ unique needs; offer new, innovative products; bolster sales in non-store distribution channels; and modify their service model to increase profitability of service contract sales
Jeff Unterreiner, Senior VP, Connected Living
CE and appliance companies will see an ongoing rise in the number of “connected”
customers in 2015. Our global Connected Living division is positioning clients to
take advantage of this trend by connecting customers to their products, and quickly reconnecting them when there is a disruption. It’s a fast-evolving market, which is why we conduct ongoing consumer research in this space. We’re generating actionable insights for our clients, and by doing so, we’re creating opportunities for new and more extensive relationships with their customers.