Practical tips for Warranty Renewal Management

A warranty, if used in the right frame of reference, can save both you and your customers thousands of dollars. Renewing warranties is a profitable endeavor if done correctly. You won your customers, and the key of success is to have them stick around for years to come. Consider how your current warranty renewal management program is working. With some minor tweaks you can ensure clients come back to you every time.

Your warranty renewal management program should consist of several components, including communications, contracts, providers, and manufacturers departments. Each of which must be in accordance with each other to deliver the most benefit to your customers. It is important to inform your customers on how much they can save by having a warranty.

In terms of warranty renewal management, communication is absolutely key. You must contact customers in a polite and punctual way. Avoid telemarketing or typical sales calls. Never call during the evening, and always honor their request to be removed from your calling list. When contacting customers by mail ensure your documents look professional and business-like. Do not use glossy advertisements or postcards. The letter should address your customer and their current warranty needs.

The hardest part of warranty renewal management is the ability to work with providers and manufacturers to deliver results for your clients. Ensure that their warranty claim is taken care of in a timely manner. Avoid making exaggerated claims and always follow through. Nothing is worse on the customer’s side when they hear five different answers from the same company. Ensure all departments are in unison and working together. While the manufacturer and provider have nothing to do with contracts, ensure they understand the promise the company made to the customer.

There are many other factors to consider when working with your warranty renewal management plan. Ensure that your customers are top priority, and try to keep all of the back office protocols just that – behind the scenes. Your customer can sense distress in your voice, so ensuring you are working in a calm environment can reduce their hesitation. Nevertheless, your warranty renewal management strategy should place emphasis on delivering results to clients in a timely manner and with minimal error.

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