We recently spoke to some industry partners who came back from the Warranty Chain Management Conference in Orlando. Apparently the place was buzzing with discussions about how everyone is concerned about SquareTrade. Considering they have a growing customer list while recently raising $240M, this should come as no surprise.
Make no mistake, with a war chest of that size, SquareTrade is clearly on the path to disrupting the way things are done and is a credible threat to even the largest companies in the industry today.
Couple this with the fact, that there has been little innovation in the warranty business and you have extended warranty companies scrambling for the answer.
Just look at how technology has almost overnight changed consumer habits and decimated many industries before it. Airlines, hotels, car rental, retail, coupons, product research and the list goes on.
From zero to the top, companies like Google, Facebook, Apple, Zynga, LinkedIn, Zappos, Amazon and Netflix put traditional competitors out of business in just a few short years.
And although SquareTrade may not have your business yet, your retail customers must be thinking about it.
As retailers loose business to the online space, they’ve had to reduce labor resulting in decreased opportunities to sell extended warranties. Not only are margins under pressure in the online world, warranties can’t be sold effectively. Square Trade offers them a tool to do so without the need for labor.
So what are extended warranty companies supposed to do?
You could build your own competing technology, but how would you do this? Do you know what works? Do you have the technical savvy and knowledge of the web in a warranty executive? Do you have the resources to spare?
Simply trying to copy what they do is the wrong approach. You’re trying to hit a moving target. If you get it wrong, you’ve spent a good chunk of money and wasted a lot of time building something that doesn’t work. In web time, that is an eternity you’ve given the competition to beat you.
Warranty Life has created an open platform available for retailers and extended warranty companies. Our systems have been built with extensive knowledge and consultation with experts from the warranty industry and we keep innovating. We remain neutral with the warranty companies we deal with and use technology to help sell more warranty plans.
To retailers, consumers and extended warranty companies, it is all free.
Warranty Life only makes money if we sell plans and revenue shares on the profit with the retailer. Our system is not only designed to help retailers sell extended warranties, it is designed to help them keep their customers coming back to the retailer and in doing so, help the extended warranty companies keep their business with the retailer.
Warranty Life is the only alternative to SquareTrade. Contact us today and find out how.