Grow Revenues & Profits With Service Plans
Current Conditions: Service plan attach rates lower than 15%
Large percentages of consumers desire to protect their purchases against risk of product failures, accidental damage, and loss.Service plans pay for these unexpected expenditures, but most consumers still have a negative perception about service plans.
Price competition is intensifying; plan providers are finding it increasingly difficult to differentiate their offerings. Complex relationships between plan underwriters, retailers, manufacturers, and Third Party Administrators (TPA) are confusing and may impact service delivered to consumers.
The Solution: Mize Service Plans
Enhance consumer experience & increase attach rates
Mize transforms how companies market, sell, and support service plans. Providers directly connect with, and present offerings to consumers via retail, web, mobile, and social channels.
Plans are featured; at the time of purchase, during product registration, at expiration of standard warranty, and other relevant events throughout product lifecycle. Making right offers at right times are key to success.
Innovative Service Plans
Mize provides the ability to offer a variety of innovative service plans to consumer:
- Extended Service
- Preventative Maintenance
- Accidental Damage from Handling (ADH)
- Subscription or Recurring Plans
Mize solutions manage optimal plan configuration, premium levels & payments.
Personalized Plan Offerings
Using Customer Central, campaigns and promotions can be setup to increase awareness and improve sales of the service plans. Our Engagement Engine tailors plan offerings based on individual consumer profiles, product ownership, and current context; increasing the likelihood of purchase.
Brands can increase attach and renewal rates by:
- Offering plans at times consumers are most prepared to purchase
- Presenting ratings and reviews from trusted friends
- Amplifying positive aspects of plans and service
- Reminding consumers via email, alerts, and push notifications
Better Support Experience
Plan coverage terms are always accessible helping to inform consumers and preventing unnecessary calls. The Mize solution improves the diagnosis of problems and increases first time fix rates by incorporating pictures and videos of the problem, from mobile devices, as part of the service request.
Mize solutions delivers a better consumer experience by enabling:
- Consumers to easily access support and services
- Ability to manage dispatches and parts orders from mobile devices
- Providers can deliver faster service response with real-time updates
Benefits to Consumers
- Ability to track standard manufacturer warranties, extended service plans, and more, all in one place
- Easier access to support in case of product failure
- Better consumer service and experience.
- Review and rate customer service in real-time
Benefits to Plan Providers
- Growth in consumer base and revenues
- Increased attach and renewal rates
- Increased customer retention and loyalty
- Reduced consumer support costs
- Real-time feedback from consumers
- Differentiation through better service experience
Profit from Service Plans
Providers can increase attach rates and provide better consumer service. The Mize Service Plans solution delivers benefits to all stakeholders through enhanced experience at more consumer touch points, throughout the product lifecycle. Please contact us for a complimentary assessment and personalized demonstration.