In February’s issue of Motor Trader, AutoProtect were asked to comment on their Special Feature: Warranties.
Nick Wake, Sales Director, has provided his response below:
What were the main warranty trends amongst your dealer clients in 2016 and what do you expect them to be in 2017?
The clear drive was towards quality in terms of the product, customer experience and transparency. Not all warranties are the same and just saying a car has a warranty is simply not enough. Increasingly, today’s car buyer makes an informed buying decision about all aspects of the package; the car, dealer, finance and warranty. Dealers who positively and proactively promote a high-quality warranty are winning customers’ trust.
The launch of ‘Gold Plus’ over the last year provides a clear indication of AutoProtect’s philosophy. It is a warranty designed to meet the ever changing needs of consumers and dealers. The product tackled consumer confidence concerns about extended warranties head-on, providing a flexible and extensive level of protection appropriate to today’s increasingly sophisticated cars and the technology that supports them. More than this, transparency has been placed at the core of the offer so that customers are well aware of the terms and conditions and the claims process. The impact has been positive on all fronts; dealers are confident in promoting it (with the product typically branded at dealer level) and consumers are happy to buy it.
What are you doing to help dealers drive their warranty business online?
Providing online product videos, copy and creative guidelines to enhance transparency and SEO impact. Ahead of this, it is essential that dealers recognise that the quality of warranty offer can make an impact upon sales. A switch from three month to six and 12 month warranties in the packaged offer certainly helps in this respect.
Is there a role for social media to drive awareness of extended warranties and boost business for dealers?
In short yes! Dealers who have embraced social media are often quick to use it to welcome a new customer; we believe this positive customer experience can be made even stronger by publicising successful claims and the customer impact. Much like a well-managed complaint on Trip Advisor, a customer problem resolved successfully is a perfect advert for the dealer and the warranty.
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