Warranty: Viral Marketing & the Warranty Industry
Through these channels, we have also conducted two consumer surveys to gain feedback and insight from consumers about their perceptions of extended service plans.
At CES in January, we conducted a survey that revealed nearly a third of participants purchased an extended service plan and nearly half of all respondents encountered product failure or needed product support. One of the greatest key findings we achieved was that 80 percent of survey respondents indicated that they are motivated to buy an extended service plan in the future for protection from unexpected repair costs and their No. 1 reason is because they want to protect themselves from unexpected costs.
We have also always placed a strong emphasis on education. From an associate standpoint, we conduct thousands of training sessions each year not only to teach associates how to sell, but also how to emphasize the value of service plans to customers.