It can be difficult to sell your customers on an extended warranty or protection plan, especially if they have had negative experiences prior to working with you. However, by training your sales team effectively and offering the right protection plans, you can secure a happy customer experience while driving greater revenue for your company.
First, consider what plans you offer now. Are you simply upselling the manufacturer’s warranty? Are you partnering with a company that sells many different kinds of protection plans? Do you know what each of those plans are? If you’re not sure, or you just want to double check that you are offering the right plans, here is a list of three protection plans your customers should have the option of buying in your store.
3 Protection Plans Your Wireless Store Should Offer
#1. The good ol’, boring manufacturer’s warranty
This is the tried and true warranty that many customers have become accustomed to hearing about when they buy a cell phone. The phone comes with a one-year warranty, but they should really consider getting an extra year added to the plan just in case something happens. This plan usually includes:
- Any mechanical or electrical failures due to manufacturer defects
- LCD display failure, including touchscreen features
- Antenna or wifi failure
- Broken dock connections
- The phone doesn’t charge or turn on properly, or at all
Because most customers have heard of this kind of plan, the sale might be tougher to close. Remember to train your sales team to handle objections appropriately, or move the customer to a plan that better suits their needs and the device being purchased.
#2. The “Oh no! I dropped my phone and cracked my screen!” accidental protection plan
The problem with manufacturer warranties is that they do not cover damages caused by the consumer. This means spills, drops, internal damages, cracked screens, and more are not covered. Ultimately, the customer is upset when this happens, and becomes even more upset when they realize that the coverage they paid for isn’t exactly what they thought it would be. By moving your customers to a premium plan, this ensures they leave your store happy anytime there is an issue with their phone.
#3. The “I bought this from a guy on Craigslist” protection plan
There is a huge opportunity today in the cellular and wireless device market that retailers, such as you, can be capitalizing on. Virtually no one is offering a protection plan for used devices, even though the devices have only had one owner prior and already have a manufacturer’s warranty in place. As a retailer, you can offer an extended warranty on used devices that protect them against accidentals including:
- Everything in the manufacturer’s warranty
- Everything in the accidental warranty
- Any other drops, spills, internal damage, screen cracks, and more
By offering more coverage for more devices, your revenue will increase accordingly.
W3 Solutions offers programs for everything mentioned above, plus an easy-to-use interface for you and your customers. Want a preview of the tool? Request a free consultation here..