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 | Adrienne Zoble's Marketing Myth #50:
Warranty Renewals Don't Bring In Enough Revenue
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|  Hello, :
I first encountered this line of thinking in the audio/video industry. There, high-powered salesmen refused to spend time selling warranty renewals for up to a few thousand dollars per year, when they could be spending time bringing in quarter-million dollar projects.
Fair enough, but who's taking care of the warranties? Too often they're totally forgotten.
Contracted warranty service has many benefits, which too few business owners recognize or acknowledge:
Monthly cash flow (smaller, but surer)
Monthly client invoices with your logo in front of them (TOMA)
Care of your clients' needs in a timely manner
Price savings to your clients
Communicating to your clients their warranties are ending, higher prices coming (good marketing; they might ask about something else)
No customer surprises with higher, one-time repair costs
Preventive maintenance
Your people on their sites on a regular basis
Chances for your repair people (who have credibility) to sell more
Greater revenue, given employee training to hear/spot sales opportunities
Service contracts or warranties aren't just about the money. They're about ongoing relationships with your clients/customers. They're about encouraging loyalty. They're about your people knowing customers' equipment better than anyone else and leveraging that knowledge. They're about the opportunities for additional business, at no marketing cost.
So . . . let's go back to the recalcitrant salespeople who think their time is better spent going after bigger projects. Certainly, they have a point. Then who's going to handle the contracts?
This is where my clients get testy and whiny, making all sorts of excuses. "We don't have anyone we can spare. We're slammed. These contracts don't generate enough money to pay an additional employee. People are no longer willing to pay money for contracts. They'll take their lumps, when the equipment breaks down." You get the picture.
Well, we're back to no time, but actually no priority. I can't get stronger than this. We're in a challenging economy, Folks. Things are not going to go back to the way they were. Communication, reliability, expertise, honesty, integrity - these are the characteristics that will set you apart from your competition, who also are making all sorts of excuses. It's called positioning, the art of differentiating your company from your competition. Could we modify our mindsets, please?
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 | |  Hear ye, hear ye!
BroadsOnBusiness.com
website has very satisfied members! So far everyone at the three-month minimum levels ("Feet Wet" and "Leg Up") have renewed. You may choose from programs for as little as $24.95, $49.95 or $89.95 per month. One-on-one consultations, webinars, marketing helpful hints, book suggestions - they're all there for the taking, as part of your membership. Visit our website, BroadsOnBusiness.com, to learn more; or call Adrienne Zoble at 970/282-1150; you may also email her at adrienne@broadsonbusiness.comOur 2011 Schmoozing Calendar is here! You'll find scores of ideas on how to sell more in less time. It's not always what you know, but whom you know. $24.95 per bound, cardstock copy; $16.95 per electronic version. To order, go to azobleassoc.com or call 970/282-1150.Our updated workbook, The Do-able Marketing Plan: Six Easy Steps to Help You Sell More in Less Time, is $67.45 including shipping; $39.95 electronic version. Again, please visit azobleassoc.com or call 970/282-1150.BroadsOnBusiness.com members may purchase the Schmoozing Calendar and "The Do-able Marketing Plan" workbook at discounts, based upon your membership level.
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