When it comes to keeping customers happy and turning them into long-term customers, a strong post-sales customer experience is what a brand needs to ace. Warranties and service contracts are essential for earning customer loyalty, making it essential to choose a warranty management system sensibly.
Customer satisfaction is a crucial success metric for many companies, and the work of Service Providers, especially Warranty Managers, is to maintain that level of satisfaction for your customers.
These systems can improve customer service while saving your company money. But how do you know what to look for in a warranty management solution? Here we'll take a look at all the points you need to consider before choosing a warranty management solution.
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Can the solution automate and simplify warranty processes?
For most solutions, the answer is no. Here is where the real value of a warranty management solution comes into play. The software should be designed to automate the tedious aspects of a warranty process.
Whether it is collecting warranty data or sending out notifications, the solution should be able to handle it effortlessly. This can save a lot of time and money that would otherwise be spent on building the process manually.
Traditional warranty management processes are manual and labour intensive, thus driving up costs. Automating the warranty process allows you to reduce your dependency on customer support executives and reduce customer support costs. Automating the process allows brands to manage a large number of warranty claims at once on a single screen, thus cutting down the operational cost significantly.
Is the warranty management solution easy to implement?
Warranty management solutions are designed to make your life easier, so why should you find it hard to get them up and running? You should be able to install the solution without any help from the vendor, and you should be able to get your data in and out of the system.
If you have to spend a lot of time setting up the solution and moving data around that will probably be reflected in a longer implementation time and a bigger budget. You can and should ask to see an implementation demo before making a final decision.
Can the solution get you valuable customer data?
This is a great question and one that you should ask all of your providers. Many solutions out there can get you some warranty data, and a few can get you a lot of it (like NeuroWarranty!). But getting detailed data on how you are doing with your warranties is key to making decisions about a warranty program for your business.
If the provider won’t tell you how many warranties you have, what the average length of the warranty is, or how many people call in, then it is likely the data they are getting isn’t that great. Getting this information, then looking at it and seeing how it compares to industry standards can give you insight into how your business is doing and what you should be focusing on.
Is the solution easy to use for your end customers?
When it comes to choosing a warranty management solution for your business, there are a lot of different options available. The best way to decide which one is right for you is to consider how easy the solution is for your end customers. Some of the best warranties that experience high redemption rates are the ones that offer simple onboarding and registrations.
With the help of NeuroWarranty, registering for a warranty claim becomes much simpler. Customers can register for a warranty by simply scanning a QR code placed on your product and entering the purchase details. Once registered, customers no longer need to secure purchase bills and invoices.
When a warranty claim request is placed by a customer the Inbuilt CRM kicks in and automates the process to make warranty management easier for your client servicing teams.
Can the warranty management solution help you manage customer communications?
Inbuilt CRM offered by advanced warranty management systems unifies the data used by service teams for effective warranty management. Businesses can organize customer queries from one source.
In addition to using the in-built CRM, customers can also send product feedback via email or SMS. Businesses can follow up on the input and have personalized communications with the customers to solve the problem and enhance customer satisfaction.
Managing feedback and reviews on a CRM, you can analyze the feedback to improve your product, service and leverage good reviews to build trust and image for your brand and increase sales.
While buying separate CRM tools can be expensive and difficult to manage, you can save tons of money spent on buying additional CRM tools. Digital warranty management solutions like NeuroWarranty come with inbuilt CRMs and allow your customer support executives to manage the entire post-sales experience from a single screen.
Is the warranty management solution cloud-based?
A cloud-based warranty management solution is a good choice if you want to move your business to the cloud while keeping all the important data in one place and not worrying about the version of your software. Cloud-based systems are a good choice for businesses that are going global and are not sure about the future.
Making sure that your business is as prepared as possible when it comes to a warranty management solution is not a decision to be taken lightly. That is why here at NeuroWarranty, we work with you every step of the way to ensure that your business needs are being met.
If you have been considering getting a warranty management solution, we hope you found today’s blog post helpful. If you have any questions or would like to get a demo of NeuroWarranty's digital warranty solution, please book a consultation session according to your convenience here. Thank you for reading!