Can a Warranty Program Help Increase Your Sales?
It sure can. We’ve seen some savvy painting companies offer a variety of warranty packages that give their clients a choice…which often means the customer opts for the longer warranty.
First, the basics to ensure a successful warranty program. Keep in mind, we’re not talking about the product warranty on the label of the paint can. Just remember that paint finishes are systems. Paint and primer work together and it’s the combination of primer and finish that gives the overall coating its performance and durability. That is what helps warranties stay intact. Typically, problems with paint failure point to something that happened during preparation and/or application, such as not properly sanding the surface; failure to use a primer to solve surface problems, painting in weather that was too hot or cold; or extreme exposure to the elements.
How are warranty packages structured? You’ll want to consider the amount of surface preparation and quality of coating applied, as well as how long the client intends to own and/or occupy the building. You can illustrate to your clients how each warranty is tailored to their needs. This value-added service gives you an opportunity to sell upgrades and potentially improve your bottom line.
One way to structure a warranty package is in tiers, such as standard, medium and extended duration. A standard warranty package might cover one to three years and include a more basic product line offering. Customers planning to move in fewer than five years appreciate the cost savings of such a plan. A mid-level program works for customers who are not sure how long they’ll be in the home – while a top-of-the line warranty program may cover as long as 10 years and use the most premium finishes. Customers with no plans to move can rest assured that they won’t need to repaint anytime soon.
Marketers know that a Good, Better, Best offerings strategy is one of the easiest ways to upsell a customer. So, give your programs easy-to-grasp names (like Silver, Gold, Platinum or Topaz, Emerald, Diamond). You’ll know what prep work is needed for each level, so you can budget appropriately for the selected warranty.
Let us know if you develop a warranty program and if your customers appreciate the options and want to upgrade.