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DEALERSHIP MANAGEMENT SERVICES AND COMMUNICATIONS
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The Warranty-Link
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| The WarrantyLinks Newsletter for Warranty
Managers and Administrators
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Warranty and the Dealer Value Proposition
Are you creating the right BUZZ???
Today's successful dealers are constantly looking for new ways to enhance their dealer value proposition. This value proposition includes the packaging of integrated product lines, comprehensive services, focused programs, and effective policies and procedures designed to create a positive customer experience when doing business with a forward-looking dealership organization.
Your organization's ability to deliver these value proposition programs to your customers will determine whether you create a positive or negative "BUZZ" for the business. Thanks to the fast-paced electronic age we live in, (email, chat rooms, text messaging and cell phones), customers can reach out to hundreds of friends and potential consumers in just minutes, thus creating a "BUZZ" that can literally make or break a business, or cost thousands in lost revenue.
Aggressive dealers must therefore look at all aspects of their business including their Warranty Program as part of that value proposition. If your business involves a significant component of warranty work, then the success of your Warranty Program plays a major role in customer relations.
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When employees understand the importance of warranty service, it creates a positive "buzz" for your business.
It also influences future procurement decisions as well as continuing use of your maintenance services after the warranty period expires. For these reasons I advise our clients to examine their warranty policies and procedures at the beginning of each year. I suggest they look from both the outside, as if they were the customer, and internally, from the employees' perspective. I also suggest that they include their manufacturers in these reviews. The objective is to find both problem areas as well as hidden benefits that are of real value to the customer. Below are just a few tips to help you improve your Warranty Program and get the positive "BUZZ" going for your organization.
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Five Dealer Tips for getting the BUZZ!
1. Map It! Take some time and map out all the steps involved in your current Warranty Program. This would include every step from how the product warranty is registered, repair and paperwork procedures, claims management, loaner programs, etc. The key is to get several people involved in this process who can give added input and recommendations and find ways to improve on both sides.
2. Can't manage it . . . if you can't measure it! Look at the data. Is there data that can help in streamlining processes or head off problem issues or areas (such as average repair times for warranty, prioritizing warranty repairs, unfair warranty tables, training issues or learning more about common warranty failures, parts/component problems or availability, manufacturers involvement and processing time, etc.).
3. Ask your customers. Often your customers can tell you what really bothers them about a Warranty Program besides the fact that their machine has a problem (i.e. what is or is not covered, length of warranty, number of claims on his product, repair times, lost down time, need for a loaner, etc.)
4. Is everyone on the same page . . . are all your employees aware of the importance of the Warranty Program and how each of there roles plays a part in creating the right BUZZ! Make sure everyone is on the same page.
5. Finally, look at other industries. For example, the automobile business is a good industry to observe different ways warranty is managed. Needless to say, they have a lot of experience. Don't be afraid to ask your local car dealer about ways he manages his warranty and serves his customers in this area.
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Volume 22, Issue 3
July 2007 |
| Upcoming Articles |
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Opportunities in Warranty Work
Electronic Claims Processing and Today's Technology
Using WarrantyLinks.com to better manage claims
Extended Warranty and Customer Service
Increasing profits through Extended Warranty
Manufacturers and Warranty
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| Contact Info |
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Send information or articles to:
info@warrantylinks.com
2110 Milfield Circle
Snellville, Georgia 30078
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