How you sell your product, how you train your staff, how you process a sale is all important. But your product still has to be something that works for the consumer in any business!
For the purposes of this article though, we’re talking protection plans and extended warranties.
Implementing a protection plan strategy is important to any business and without a coordinated and well thought out and focused effort, any project will fail.
Once you’ve got that in place, the product still matters. It’s much easier to sell a product that sells itself, versus trying to use salesman ship and marketing to sell something that isn’t a nice fit. Then, when you figure out your best marketing strategy, you’ve really got a hit on your hands.
If consumers are going to buy your protection plan, it has got to resonate with them as to how it will help them. Salesmanship is one thing, but if the core product isn’t a match, no matter how good the sale pitch is, it’s not going to achieve the result you want.
For example, if your store is selling Laptops or smartphones or anything with a battery and your plan doesn’t cover the battery, it isn’t a complete product. The sales person won’t feel good about it, nor will the consumer.
Or if you’ve got a plan that looks like a reasonable price but has high deductibles, the consumer may buy it, but when it comes time for a claim, won’t be happy about it. This negative experience will cause a potential repeat future sale, something no retailer wants to risk.
These days, customer loyalty is paper thin, poor service can cause them to go to the next competitor and you won’t even know about it. A retailer’s best strategy is to provide good service, great products, at a reasonable price while building trust in preparation for the next sale.
At Warranty Life, we strive to provide protection plan options for consumers that they want, and that retailers are happy to sell. Our end goal is our partners end goal.
We can consult and create products that fit your business and grow sales.
We always take the view if we all don’t win, none of us do.
Need help with your protection plan strategy? Contact us (firstname.lastname@example.org) to see how we can help.