The Importance of a Warranty
According to Key Differences, a warranty is, “An assurance given by the manufacturer or seller to the buyer that the specified facts about the product are true.” Warranties serve as a promise to your customers. The promise includes providing a certain quality of product. If the product doesn’t live up to the standards described, the customer is promised some type of compensation, such as a repair or exchange. In other words, a warranty is a customer satisfaction guarantee. As a company, creating warranties means that you stand by your products. This shows your customers that they can trust the quality of your products. It also helps the customer to feel at ease with purchasing your products because they see it as less risky to do so. It can also help you to be a step above your competition.
Tips For Creating A Warranty
When creating your warranty, you can decide the terms and length, which should include terms your customers would like and appreciate. Inc. states regarding the creation of warranties:
“If you decide that offering a warranty makes sense for you and your company, what should you think about covering? Think like a customer and focus on the essential elements he or she might be looking for when it comes to buying your product or service. Again, the key is to think of ways that make your product or service sound less risky to the potential customer – such as the ability to get their money back, receive free repairs or even the ability to exchange an item for a free replacement.”
A warranty is also a form of coverage for your company as well. It should be specific enough in the details of its coverage to not be a huge liability to your business.
Another extremely important fact to consider when building your products’ warranty is to specify what is NOT covered in the promise or agreement. Don’t include or cover aspects that you’re not sure you can promise. It’s not logical to cover every single problem that may or may not occur.
Warranties also require some sort of timeline. When considering the timeline, it is important to be aware of the average lifetime of your product. This might require testing and research in order to be fully accurate. You must also have a strong confidence in the product for which you’re creating a warranty.
You can also develop warranties for services, not just products.
How BILT Helps Improve Your Warranty Customer Satisfaction
Everything that BILT offers is paperless, from product information and assembly instructions to registries and warranties. It is incredibly imperative to ensure that the process of purchasing your product are easy to understand and use. BILT not only has 3-D instructions for the assembly of your product, but we also include the digital upload of the warranty. Paper is easy to lose or accidentally destroy. Going digital will increase your customer’s satisfaction by ensuring that they will always have access to it, and will always have the assurance of the quality of your product. From start to finish of product assembly, BILT is there to assist you and your customer’s needs.