Bill Pollock, president & principal consulting analyst at Strategies For Growth℠, to conduct Workshop on the topic of “Transforming Warranty Management Into Improved Customer Satisfaction and Revenue Generation”, Tuesday, March 6, at the 2017 WCM Conference in Tucson, AZ
[Reprinted/Edited from the February 16, 2017 issue of Warranty Week]
From March 7 – 9, 2017, warranty professionals will gather in Tucson, Arizona, for the 13th annual Warranty Chain Management Conference. And as always, the opening day is taken up by a series of pre-conference workshops.
Many times, at past conferences, people arrive too late to attend any of the workshops, but wish they had. So while there’s still time for attendees to switch to an earlier flight, we wanted to provide some detail about what’s on offer.
This year, there will be six workshops — three in the morning and three in the afternoon on Tuesday, March 7. They’ll be followed by a welcome reception in the evening, and then the main conference proceeds on Wednesday and Thursday.
What these workshops provide is a deep dive into a single topic, such as transforming effective warranty management into improved customer satisfaction and the bottom line. They’re run by experts in the field, but the attendees are from all levels. And what they all know is the fundamental value of conferences like these: none of this material can be learned from books.
Bill Pollock‘s workshop is one of the three workshops scheduled for 9 AM to 12 noon, MST.
Raising Customer Satisfaction Levels
Pollock’s workshop is entitled, “Transforming Warranty Management Into Improved Customer Satisfaction and Revenue Generation“.
Pollock, who is a repeat presenter of WCM workshops, said he’s aiming this year’s presentation at managers and executives who need to improve customer satisfaction, drive revenues, and gain competitive advantage through improved warranty management.
“The perfect attendee would be anyone who deals both internally and externally with customer satisfaction, revenue generation, revenue management, or sales and marketing,” he said. “They’re the people who have the mandate — all their merit increases, their bonuses, are going to be dependent on how efficiently they run their part of the warranty management organization.”
Pollock said companies want to see both a contribution to the bottom line and an improvement in customer satisfaction levels. “But they’re almost diametrically opposed to one another,” he said. Deny more claims and satisfaction drops. Approve more claims and profits drop. So there has to be another way: increase revenue.
“One of the best things you can do to improve your revenue stream and to satisfy customers is to focus on warranty management, contract renewals, and attachment rates,” Pollock said. “You’re going to have increased revenues, and they’re going to be more predictable.”
Once the revenue increases, the money can be invested in automating and improving processes, which will ultimately raise customer satisfaction levels, Pollock explained. The goal is to turn a warranty claim into a more pleasant encounter for the customer, rather than adding insult on top of the injury.
“If you can’t make them feel better virtually immediately, then you’re going to allow a bad situation to get even worse,” he said. “What you need to do is build a warranty management program that can generate increased revenue, then take that revenue and spend it on improving the processes.”
Pollock said his advice is backed up by surveys he’s conducted both recently and in years past. “The first part of the workshop is going to be me presenting what best practices organizations are doing that are different from what the average organization is doing. But we also introduced some new questions into the survey this year,” he said, such as whether your organization has recently upgraded its warranty management solution. “What we’re finding is that there’s a big difference,” he said, in metrics such as claims processing time, service profitability, and supplier recovery rates.
More basically, Pollock said, the companies that recently upgraded their warranty management solutions are better not only at measuring themselves, but also at reporting the improved metrics. “Now, through more automated processes, through the cloud, powered by the Internet of things, you can build algorithms that allow you to more quickly identify than ever before, what’s really making a difference,” he said.
For more information on this workshop, or to register for the 2017 WCM Conference, please visit the conference website at: http://www.warrantyconference.com
Looking forward to seeing you in Tucson!