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Connected Customer Experience

Optimizing Your Service Contract Program Operations

Author Tim Nissen on Jul-7-2020

Optimize Your Service Contract Operations: Increase Your Service Contract Revenue

A statistic to overcome: Companies realize less than 15% of potential service contract revenue.

Overall, unachieved revenue results from businesses not offering service programs beyond standard product warranties. Even when service programs are offered, the attach rates remain low as some retailers and channel partners may not focus on service sales, or customers fail to understand the value of these programs.

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Analyst View: Why Manufacturers Automate Warranty and Service Contract Management

Author Tim Nissen on Jun-30-2020

Manufacturers have experienced an evolutionary shift in how they manage service interactions after the original product sale. Having considered the warranty initially as a necessary cost, they had to keep customers happy, resolve product failures, and obtain critical data required to improve product quality.   Manufacturers no longer view the provision warranty and aftermarket service as a cost of doing business. It's now seen as an opportunity to add value, obtain critical insights to drive product innovation, and generate incremental revenue and profits.

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