The #1 question we get from our dealers is “How can I increase my warranty attachment rate?” Below I will outline the process which will maximize your warranty attachment rate. The steps vary for retailers and ecommerce companies, the focus of this article will remain on ecommerce dealers.

Step #1: Comprehensive Coverage
Offer coverage on every possible price tier, category and product. For products that range in cost from $2 to $20,000, CPS provides coverage for every price tier. From laptops to lawnmowers, anything that plugs in or takes a battery. Additional categories include but are not limited to all warrantable products such as jewelry, luggage, designer handbags, sunglasses and much much more. As the saying goes “in order to catch the most fish you must cast a wide net.”

The coverage benefits must also be relevant and specific to the product. For example, our smartphone coverage offers advanced exchange and accidental damage options. Comprehensive coverage not only means to offer protection for a vast array of product categories, it also means that you must offer specific and relevant benefits for the underlying product you’re covering. Our team of experts will evaluate your website and properly map out every category so the correct coverage options are offered on every warrantable product on your website.

Step #2: Product Page
For over 20 years, CPS developed proprietary techniques on how and where to best display the warranty options and benefits on your product page. CPS has extensive data on conversion rates that will enable dealers to optimize product pages in order to maximize warranty sales. The CPS sales, marketing and web design team are experts in creating the proper display that blends with your company’s existing website.
Furthermore, we utilize artificial intelligence to post the specific warranty options and benefits that will be displayed for the underlying product.

Step #3: Jump Page
The Jump page or pop up window is displayed for non-attached customers after the customer adds the product to their cart. CPS is a pioneer of this technology and was the first provider to apply this pop up for a warranty option. The jump page guarantees the customer is aware of the warranty option. By utilizing our decades of historical purchasing data, CPS will create and help integrate this page for your company in order to maximize attachment rates.

Step #4: Checkout Page
If your customer did not purchase a warranty on the product page or jump page, the warranty option will be available on the checkout page as well. This option works well for customers that were initially undecided and then decided to purchase the coverage at the final checkout. Data indicates that most customers will not revert back to the product page once they are in the final checkout screen. Having the option available at the point of checkout is critical in order to capture this sale.

Step #5: Non Attachment Ratio Converter (NARC)
The NARC is a proprietary application only available through CPS. For customers that did not attach at the point of sale, CPS offers an email campaign to help your company increase warranty sales. Simply load up your non-attached customer list to our portal and they will receive a customized warranty offer via email when the product lands at their door. Another email is sent the following week for non-attached consumers coupled with additional incentives and a tertiary email is sent 30 days post purchase.

Step #6: OEM Warranty Expires
Typically, all new products carry a 1 year manufacturers warranty and refurbished units are generally covered for 90 days. At that time our system will automatically send out a notification to the consumer indicating this would be the final opportunity to purchase an annual or monthly protection plan for their product.

The bottom line: Increasing your attachment rate does not boil down to one measure but rather a combination of many small techniques that are backed by decades of data and experience. When added up, they formulate a comprehensive program that will maximize your attachment rate. CPS makes the process simple for dealers by providing free customized web integrations as well as plug and play instant setup applications as well.

About CPS
Consumer Priority Service (CPS) is a leader and disruptive innovator in the field of service plans. The company offers extended warranty coverage for virtually all types of consumer purchases ranging from high-end consumer electronics to computers, major appliances, power tools, lawn & garden equipment, and much more. CPS delivers award winning service and is rated the #1 service provider according to www.toptenextendedwarranty.com. All plans are backed by an A.M. Best Rating of “A-” (Excellent) Insurance carrier. Learn more about CPS by visiting www.cpscentral.com. Apply today to join our executive sales team at www.cpscentral.com/jobs.aspx.