Tuesday, May 9, 2017

Warranty Management: Developing a Strategic Advantage

Today, it seems that everyone is talking about improving the quality of customer engagement.


Use Warranty as a Customer Engagement Touchpoint!
There are many possible engagement touch points: have you considered your warranty operation as an opportunity to enhance your relationship?.

Back in the day, warranty was introduced as a tool to attract customers. Companies wanted to show buyers that they were willing to guarantee their products.  Soon, the idea caught on and everyone was providing a warranty on their products and.. home builders were no different.

Home builders found, as did others, that managing warranty was a task in and of itself.

Claims management, vendor logistics,... before they knew it, warranty seemed to be a monster that had a life of its own.

Today, however, warranty management, if properly conceived and administered, offers an opportunity to increase your strategic advantage.  It can improve customer engagement and, through today's social media outlets, provide a direct customer voice.  What home shopper wouldn't be encouraged to see a Facebook post highlighting a successful warranty claim?

Successful warranty operations can become both a strategic advantage and a referral source!

How?  An article by Aditya Baliga in Industry Week, suggests a key element is to develop a holistic and streamlined warranty process.  Some key elements:
  1. Warranty Analytics -- Do you know your Top 10 issues? How about their reasons?
  2. Claims Processing -- Have you done everything to improve the process and minimize costs?
  3. Automation -- Go Mobile! and let your homeowners submit requests directly, as an example.
CPS has been helping home builders improve their customer relationships for -- over 30 years.  WarrantyWatcher can provide the analytics you need as well as expedite both claims processing and vendor notification using automation.  Give us a shout out!



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