Mike Frosch, a 25-year warranty industry veteran, is now an entrepreneur looking to put a fresh face on the warranty business with his newly formed company, Personal Safeguards Group (PSG). He has seen plenty of opportunity in the market for a firm that focuses on supporting dealers and vendors in driving customer acquisition and retention through an approach that helps the
The Warranty Group announced this week that it has reached an agreement with MC Appliance Corp. to provide extended service plans for MC's Magic Chef brand appliances.
To strengthen their cases with retailers and end-users, warranty companies are shoring up efforts on all fronts - marketing, customer support and sales training - while driving home the perennial "peace of mind" message the category has been built on.
Maximizing a product sale nowadays means attaching an extended service plan, which is often challenging in this age of the penny-conscious, Internet-educated consumer. Sales associates need to be prepared with the right customer-qualifying gambits, all the necessary background information to answer questions simply and accurately, and a logical defense strategy to fend off arguments against spending a little extra now to avoid spending a lot more later. Some of the industry’s key executives spoke to us about how to perfect the art of the warranty sale. Tune in for Part II next month. What are the best strategies retail salespeople can use