If you have a new product or service that you are excited about and want to improve sales and customer confidence, a warranty might be a great addition to your plans for launch. Here are 6 questions to ask yourself before creating a warranty.


 

There are multiple benefits to offering a warranty to your customers:

 
  • Increase sales and revenue
  • Receive insight you can act on
  • Develop targeted marketing with a higher probability of success
  • Build trust, relationships, and confidence in your customers
 

Determine How A Warranty Program Could Benefit Your Business

Would you like more information about the Besure turnkey warranty creation and management software? Meet with one of our onboarding specialists to design your warranty program today!

 

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6 Questions to Ask Yourself Before Creating a Warranty

 

1.Why Should You Offer a Warranty?

There are many reasons to consider offering a warranty on your service or product. Perhaps you work in an industry where it’s the norm to provide a warranty, or you know that providing this to your customers will give you an edge over your competitors. In addition to this, perhaps you have recently changed your product or produced something new. In this case, a warranty can help reduce the customer’s perception of risk and make them more likely to buy your product.

 

2. What Will the Warranty Cover/Not Cover?

It is important to determine exactly what your customers would most want to be covered by your warranty. Are they looking to reduce their risk, or would they be more motivated to purchase the warranty with the promise of free repairs or exchanges? Each product and service will have its own unique customers, so make sure to consider what will give them the greatest sense of security.

 

3. How Long Does the Warranty Last?

The length of your warranty can best be determined by the normal lifespan of a product or term of service. Additionally, consider whether your warranty begins on the date of manufacturing or when it is sold or delivered.

 

4. How Do Warranties Work for Services?

There are several options for service warranties. Satisfaction guaranteed can provide some customers with the reassurance they need to take a chance on working with someone new. There is greater variability in service warranties than product warranties, but if you are sure of the service you offer, you can convey that to your customers and win their confidence. A money-back guarantee, for example, is a great way to tell a customer that you value your word and they can trust you.

 

HOW DOES A P2P WARRANTY PROGRAM WORK?

 

5. Will You Provide the Option to Extend the Warranty?

The option to extend a warranty can provide an added level of comfort for customers who are purchasing large ticket items. Typically, you will offer the customer the option to extend for an extra payment at the time of sale. Alternatively, you may choose to give them a few days or weeks to decide if they want to add the extended warranty.

 

6. How Will You Handle Warranty Concerns?

Make sure you are prepared to field questions about your warranty program, and also concerns about a product or service you offer. Designate staff members who are trained specifically to deal with these issues, so that they have the comprehensive knowledge to satisfy customers. In addition, make sure you provide clear contact information for your warranty.

 

Contact Us Today

Are you looking for a convenient way to provide a warranty program to your customers for your existing products or services? To learn more about how Besure can help you do this, contact us today at 403-460-6961 or fill out our our online contact form.

 

Alternatively, you can find us at 1214, 12 Royal Vista Way NW, Calgary, AB, T3R 0N2.

 

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