How to Instantly Triple Your Warranty and Repair Revenue
Field service organizations handle warranty and repair work orders, sending field technicians to cater to clients’ needs. This is a major source of revenue for these organizations. Thus, field service organizations can improve their revenue significantly instantly tripling their warranty and repair revenue.
Let’s consider the ways field service organizations can instantly triple their warranty and repair revenue.
Offer high-quality service
Offering high-quality service is a straightforward strategy for enhancing revenue from warranty and repairs. Customers struggle to find field service providers that offer the high-quality service they desire. When they find service providers that completely satisfy their needs, they will make continued work orders and recommend the service to others.
When a field service organization offers high-quality service, the percentage of warranties converted to repair orders will increase, and this will directly increase warranty and repair revenue. The field service sector is one where the quality of service can directly translate into more revenue. By offering high-quality service, field service providers will definitely improve warranty and repair revenue.
To achieve instant growth in warranty and repair revenue from getting work orders, field service organizations should equip technicians to offer the best quality of service. Technicians should be empowered with resources, skills, and tools that are bound to improve the first-time fix rate.
Specifically, technicians should be equipped with mobile tools. These tools ensure real-time access to the important resources that they need. With mobile solutions, technicians can interact with other techs and members of the organization.
Mobile solutions with GPS also equip technicians to improve their productivity. Routing and scheduling will particularly be improved with mobile tools that have GPS. Technicians can handle more work orders when they are dispatched to jobs where they are located in real-time.
Warranty and repair revenues can be particularly improved with mobile solutions because of the efficient invoicing that will be achieved. Offers and invoices can be created in real-time, more work orders will be handled, and warranty and repair revenues can be significantly improved.
Customers and clients love high-quality service and cost-effectiveness. Offering discounts to customers can improve warranty and repair revenue because it will encourage the customers to make more work orders.
We have already gotten offering high-quality service out of that way and should specifically emphasize the importance of offering cost-effective services.
Discounts should strategically offer discounts to encourage the conversion of warranties to repair orders and the retainment of repair orders. To encourage more work orders and increase revenues from warranties and repairs, discounts could be tailored to the volume and frequency of the orders.
Apart from offering discounts to existing customers, special discounts could be offered to new customers. Discounts to new customers could particularly increase warranty revenue.
Rewards differ from discounts and could be offered to improve warranty and repair revenues significantly. Rewards are a different form of incentive that could be attached to actions such as giving reviews.
Customers could be offered coupons to encourage them to make reviews. When this is combined with offering high-quality service, warranty and repair revenue can improve significantly within a short period.
We have now shared proven tips for improving warranty and repair revenues within a short period.