Warrantech

In the world of extended service plans (ESPs), extended warranties, or service and parts replacement programs, many consumers have become immune to the common tactics used to sell these programs. In fact, if your sales team is still selling the “what if” scenario to today’s ultra educated consumers, your store is losing out on valuable sales that help drive high-margin growth and revenue.   According to NBC News, extended warranties help fuel a booming $15 billion-a-year business; therefore, it’s imperative that retail sales personnel hone their sales approaches for “add on” sales such as ESPs. Through ongoing training and education, sales teams are better able to overcome “new” objections to these profitable plans and figure out which plan best suits the consumer’s need.   The below selling strategies are simple, but effective ways to help your sales team illustrate the value of ESPs and therefore convert more consumers: Get consumers’ attention  — By stating the obvious such as, “

Sean Stapleton, president and CEO of Warrantech/AMT Warranty will be presenting at the 2015 Warranty Chain Management Conference on March 11 in Miami. The following is an excerpt from Warranty Week  in anticipation of the event.  The technology is changing. The need for repairs is changing. Even the concept of ownership is changing. And the way people shop is changing. Two industry experts describe how they see these changes impacting warranty and service contracts. At this year's Warranty Chain Management Conference, attendees are immediately going to be challenged to face the changes that new technology is forcing upon our industry. It's going to be a bit upsetting, especially to those who like the status quo. Rather than hearing about the latest best practices in the break/fix business, and how everything is slowly going to get incrementally better, attendees are going to be told how driverless vehicles will challenge the whole idea of automobile ownership, and how

ean Stapleton, Warrantech president and CEO, recently took part in an executive forum with  TWICE  magazine. Here’s what he had to say in response to the following question:   In such a competitive category, how do you stand out and differentiate yourself from amongst the competition?   Warrantech Corporation delivers customized programs tailored for the unique needs of our partners. We do not agree with the “one size fits all” approach which is becoming pervasive in the industry.    Unlike other providers, we offer partners the flexibility of extending their brand to their service contract programs. We believe that this approach reinforces our partner’s brand and helps drive customer loyalty and retention.   Additionally, we offer extensive missed point-of-sale programs designed to enhance the relationship between our partners and their customers and drive substantial incremental revenue.    Warrantech is also a subsidiary of AmTrust Financial Services, Inc. (NASDAQ: AFSI)