Connected Customer Experience

The last 18 months have been challenging for most industries, and the automotive industry has been particularly hard hit. A shortage of semiconductors and supply chain chaos led to several manufacturers halting production, while others scaled back and waited for the proverbial dust to settle. McKinsey reports that the industry is accelerating out of the turn on its return to the next normal, but the lessons from the global pandemic won't soon be forgotten.

And that lesson for automotive manufacturers and professionals working in and around the industry is best boiled down to the adage, "the only constant is change." The goal now is to keep our eyes on what's next and prepare for the inevitable fluctuations.

A recap of MAPconnected, A Vehicle Service & Warranty Lifecycle Conference

I had the privilege of moderating the recent MAPConnected Vehicle Lifecycle and Warranty Conference. Being the conference moderator offered several distinct advantages. I observed audience attention and participation during the presentations, plus I had the opportunity to ask the tough questions on everyone’s minds. Here is a short recap of my experience.

The ability to deliver a customer-centric experience has quickly become a prerequisite for competing in the global marketplace across most industries, including durable goods manufacturing. Your customers have an ever-growing list of vendors to choose from, and their loyalty to your brand rises and falls with the experience you provide. In fact, according to PwC, 32% of customers will stop doing business with a brand they love after only one negative experience.

As manufacturers focus on the benefits of modernization and the competitive advantage it creates, the IT department has gained an increasingly important seat at the table when it comes to the organization’s strategy and direction. If anyone is focused on the digital future, it’s the people tasked with keeping IT systems going, troubleshooting and heading off problems before they become catastrophes, and ensuring that customers—both internal and external—are satisfied.

Learn How to Realize a Strong ROI in Our Warranty Webinar

If you're like many manufacturers, it may be time to close the transformation loop with a single, modern warranty management solution and an ROI analysis. You may be overdue in replacing a legacy system and see the potential for increased revenue. If you need the business proof showing ways to realize ROI, then join us for a webinar with industry experts. You'll learn to calculate expected cost reduction and increased revenue.

Recent Study Indicates Utilization of Warranty Management Strategy Ensures Recurring Revenue Streams

Strategies For Growth^SM (SFG^SM),in conjunction with Mize, recently announced survey findings indicating positive signals for the expanding Warranty Chain Management market – customer-centric market factors drive organizations to improve existing levels of warranty management performance.

Managing warranty entitlements is vital for manufacturers to gain control of warranty reserves and claims. Entitlement management involves administration, tracking, and enforcement of policies, coverage terms, expiration dates, and claim reimbursements.

For OEMs collecting IoT-connected product information, the benefit’s in its actionable utilization. How you manage it becomes crucial – having the ability to build a Connected Customer Experience and incorporate proactive Service team interaction – ultimately maximizing Warranty Management profitability.

The Mean Time to Resolution (MTTR) is a metric that service organizations grapple with in terms of related cost and customer experience. One objective is clear: reducing the time it takes to resolve customer issues – from case creation dates to their closures – benefits both.

Many Warranty Managers that we at Mize work with often share that field service operations are the most labor-intensive part of their warranty process and are a significant cost driver. The primary reason for this extra cost is due to the field service not being fully integrated into the overall digital warranty processing systems.