How consumer brands can sell extended warranties effectively to their customers?

Apple is right now the biggest consumer brand, but can you guess what is Apple's most profitable and highest margin product?

The answer is AppleCare extended warranty. AppleCare extended warranty offering is the company’s highest margin (at 63%) and second-largest segment. While Apple is acing the selling extended warranties process to its loyal customer base, new consumer brands are constantly struggling, or even worse, are unaware of about just how highly profitable can selling extended warranties be. While learning about high-profit margins in selling extended warranties is not a difficult process, learning how to sell them effectively is. And this blog show's you how you can do it effectively.

Provide a seamless warranty registration experience -

A smooth and pleasant first warranty experience is the basis on which you built your post-sales connection with your customers, hence you must ace it. It is necessary to have a warranty registration process in place that can help you build a two-way communication channel with your customers. You can do this by choosing a warranty management software.

You would also like to maximize your warranty registrations so that you have maximum potential buyers for your extended warranties. You can do this by offering your customers something in return for the registration like loyalty points or limited extended warranty coverage. 

Digitize warranty management -

Traditional warranty processes put a lot of burden on customers by making them secure and manage their purchase bills, warranty cards and other related documents, as a result, to quit the hassle most customers do not opt-in for extended warranties. 

You can solve this by having digital warranty software like NeuroWarranty take care of your warranty process. As NeuroWarranty digitizes your warranty process, your customers no longer have to secure old purchase bills and warranty cards. Instead, customers can register and claim a warranty in just a single click, easing up the process of first registration and opening doors for extended warranties. 

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