Recognition

IDC Analyst logo

 

    Follow us

    Sign Up for Updates

     
      Posts about

      Extended Service

      3 min read

      Service Contract Configuration: The Key to Higher Attach Rates

      Mize is currently conducting a study among service executives and warranty professionals who are involved in marketing and selling service contracts and extended warranty (SC/EW) programs. Our objective is to identify best practices involved in marketing and selling SC/EW and extended service programs and evaluate the impact of these practices on key performance indicators (KPIs). 


      Continue Reading
      1 min read

      How do you Plan to grow Service Contracts Revenue?

      Your product install base provides a huge opportunity to grow service contract revenues and profits, but attach and renewal rates for extended warranty and service programs (EW/ES) stay below the desired levels.


      Continue Reading
      2 min read

      5 Opportunities to Increase Extended Service Warranties

      The sale of extended service programs and warranties can be lucrative. It also provides customers with peace of mind and the feeling that we work in their best interest. In those companies who sell these warranties, opportunities to make that connection are often missed.
       
      Here are five times during the customer service lifecycle where the sale of extended service warranties can be easily promoted: 


      Continue Reading
      2 min read

      What do you cover with your Extended Warranty and Extended Service Programs?

      Blumberg Advisory Group and G35 Software partnered to conduct a study among professionals involved in selling Extended Warranty /Extended Service (EW/ES) programs and asked them about Processes Covered and Resources Provided by their programs. Here is what their responses indicated:


      Continue Reading
      3 min read

      Key Factors Driving Revenue Growth in the Field Service Industry

      Given the enormous attention that field service organizations (FSOs) are placing on growing topline service revenue, Blumberg Advisory Group and Giuntini and Company recently partnered to conduct a study among service executive about best practices involved in selling extended warranty and/or extended service programs. A key finding of the survey is that the configuration of extended warranty and extended service programs has a tremendous impact on the sale of these programs.  In other words, the length of coverage, level of customization, processes engaged and resources employed in delivering the warranty, and entitlement levels offered play a key role in driving sales. These findings suggest that the more distinctions a company can make about its service program, as defined through the configuration, the more effective the company will be at getting customers to purchase it.


      Continue Reading
      4 min read

      Extended Service Best Practices to improve Attachment Rates and Renewal Rates

      Recently, Blumberg Advisory Group and Giuntini and Company conducted a study about the Extended Warranty/Extended Service Market.  We looked at various aspects of sales process and specifically evaluated the Warranty Attachment rate (i.e., customers signing up for these programs) and Renewal rate (i.e., customers renewing their agreement during the warranty or at the end of the term)  as they are Key Performance Indicators (KPIs) that measure how successful a company is in marketing and selling extended warranties and extended service programs. Best in class performance would equate to companies achieving an attachment rate of 50% or higher and renewal rates of 75% or better.


      Continue Reading
      A MIZE BLOG

      Connected Customer Experience

      Our company blog is filled with service lifecycle management tips and best practice articles. Stay informed on trends, case studies and announcements. Subscribe today.