4 min read
Service Lifecycle Management 101
Aligning People, Processes, and Technology to Improve Post-Sale Durable Goods Customer Experiences and Revenue
Grow Revenue and Profits with Service Plans
Grow service revenue and profitability consistently through all channels by increasing service plan sales and entitlement governance while increasing dealer and customer experiences.
Consumers desire to protect their purchases against the risk of product failures, accidental damage, and loss. Service plans pay for these unexpected expenditures, but most consumers still have a negative perception of service plans.
Price competition is intensifying; plan providers are finding it increasingly difficult to differentiate their offerings. Complex relationships between plan underwriters, retailers, manufacturers, and Third Party Administrators (TPA) are confusing and may impact consumers' service.
Ability to track standard manufacturer warranties
Easier access to support in case of product failure
Better consumer service and experience.
Review and rate customer service in real-time
Mize transforms how companies market, sell and support service plans. Providers directly connect with and present offerings to consumers via the retail, web, mobile, and social channels.
Plans are featured; at the time of purchase, during product registration, at the expiration of the standard warranty, and other relevant events throughout the product lifecycle. Making the right offers at the right times are key to success.
Mize provides the ability to offer a variety of innovative service plans to the consumer:
Accidental Damage from Handling (ADH)
Subscription or Recurring Plans
Mize solutions manage optimal plan configuration, premium levels & payments.
Growth in consumer base and revenues
Increased attach and renewal rates
Increased customer retention and loyalty
Reduced consumer support costs
Real-time feedback from consumers
Differentiation through better service experience
Using Customer Central, campaigns and promotions can be set up to increase awareness and improve the service plans' sales. Our Engagement Engine tailors plan offerings based on individual consumer profiles, product ownership, and current context, increasing the likelihood of purchase.
Brands can increase attach and renewal rates by:
Offering plans at times consumers are most prepared to purchase
Presenting ratings and reviews from trusted friends
Amplifying positive aspects of plans and service
Reminding consumers via email, alerts, and push notifications
Plan coverage terms are always accessible, helping to inform consumers and preventing unnecessary calls. The Mize solution improves the diagnosis of problems. It increases first-time fix rates by incorporating pictures and videos of the problem, from mobile devices, as part of the service request.
Mize solutions deliver a better consumer experience by enabling:
Consumers to easily access support and services
Ability to manage dispatches and parts orders from mobile devices
Providers can deliver faster service response with real-time updates
Providers can increase attach rates and provide better consumer service. The Mize Service Plans solution delivers benefits to all stakeholders through enhanced experience at more consumer touchpoints throughout the product lifecycle. Please contact us for a complimentary assessment and personalized demonstration.
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The Mize team brings decades of experience in Service Lifecycle Management. Ask us how we can improve your processes.
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