In the March 2019 Snapshot Survey, we asked contractors about how they use warranties and guarantees to increase revenue and help their customers feel confident in their purchases. Here's one survey question and its results from the summary report, which will be available in its entirety to EGIA members on 4/17/20.
How effective do you feel your warranties are at helping you sell more?
When salespeople effectively communicate the benefits, warranties can boost profits and help your customers feel at ease with their purchase. The majority of contractors who responded to our survey (51%) said they feel warranties are highly effective at helping them sell more systems, and 39% feel they are somewhat effective. Because surveyed contractors feel so strongly about the revenue-generating power of warranties, your salespeople should expect a return when incorporating them into every conversation they have with home owners.
Here's what a contractor from South Carolina had to say:
“We offer a two-year labor warranty on installation with an eight-year labor upgrade on installation that’s optional at additional cost. We provide a lifetime workmanship warranty to give the client confidence that they will not be paying for a mistake by our company.”
EGIA has created vast resources to help contractors learn the best practices of offering warranties and guarantees - EGIA members can log in to the EGIA Best Practices Library to access these valuable tools. If you're not a member, click the banner below to sign up for a free 30-day trail to access the resource library.