The markets have never been more customer centricity, and providing an unparalleled post-sales experience is the top priority of all brands. The most crucial of which is a hassle-free warranty claims experience for your end customers.
With ever-increasing CAC, you want to retain as many customers as possible, in which their warranty experience with you plays a vital role. But innovations in the warranty management market have made warranties much more than product replacements.
Leading consumer brands are now using their warranty program to get customer data, communicate with customers and most importantly, retain customers.
Let's see what exactly warranty management software does and how leading brands use it to boost their repeat sales.
What is warranty claims management?
A warranty is a trust-building assurance given by you to your customers before they purchase your product. Safeguarding their purchase against damages or manufacturing faults not only builds trust but also helps you develop a long-term relationship with your end customers.
But just having a warranty process in place won't get you going in a market where brands mostly compete on customer experience. Customers will judge you based on the efficiency of your warranty processes.
You should have a warranty process that is easy to use, informs customers at all stages and saves you time and costs in managing them.
What does warranty management software do?
In many organizations, warranty services and claims procedures are typically handled internally and impact several departments, from the supply chain to customer service.
Traditional warranty processes are dependent on paper-based warranty cards, that the customers get during their purchase and are to be secured and presented when they claim for a warranty. Traditional warranty claims often leave customers unsatisfied and drive up your management costs as -
- Customers are unable to claim as they often lose their warranty card/ purchase bills
- Customers have to go through multiple touchpoints
- The manual process tends to drive up your costs
- Brands face serious issues when scaling up
Advanced warranty management software like NeuroWarranty are solutions that automate and digitize your warranty management processes end to end.
Warranty management software NeuroWarranty does that by replacing your paper-based warranty process with a QR code-based warranty process. QR code-based warranty cards are placed on the product or inside the product packaging.
As end customers scan the QR code to register their product, they get directed to a custom build page that gets brands' valuable data like Names, email ids, phone numbers and more.
After successfully registering their product, customers no longer have to secure purchase bills and warranty cards. Customers can now register, claim and manage all their product warranties on a single screen and with a single click.
What are the benefits of warranty management software -
- Faster processes: A warranty management software can help you easily track the progress of each claim and process each stage faster. By allowing the system to automate menial jobs, your employees will have more time to focus on bigger tasks and improve their skills.
- Reduce fraudulent risk: Customers who are worried about their data can be easily reassured as the risk of fraud is reduced with a warranty management system. As all the processes and policies are already in place, and with the latest technology, any issues or errors such as fraudulent activity are much easier to detect and stop.
- Cost-effective: With management software, you can easily save on administrative costs as the system will automate claims and settlement processes.
- Improved customer service: With real-time data available, you can easily track the progress of each claim to keep customers updated and improve overall customer satisfaction.
- Clearer insights: Clearer insights and analysis data are available with the help of a warranty management system. This makes it much simpler to monitor any quality issues and gives you a clear understanding of customer requirements.
How can Warranty Management software increase your repeat sales?
NeuroWarranty's digital warranty solution allows your customers to claim a warranty with just a few clicks, avoiding the hassle of finding old purchase bills and going through endless calls with your customer service teams. Creating an unparalleled customer experience and resulting in customer satisfaction.
NeuroWarranty also empowers brands by bringing them data such as emails, phone numbers and names of their end customers allowing your marketing teams to personalize your remarketing efforts increasing repeat sales and maximum customer retention rates.
We hope you found our blog helpful. The NeuroWarranty warranty software is trusted by 100s of leading brands including - Syska, JCB, and ResQtech. You can sign up for the warranty management software by scheduling a demo and getting a free 14-day trial here - get a demo when you schedule a demo, an account manager will contact you and organize a call to discuss your business requirements.