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How Do I sell Warranties?

Discussion in 'General Chat' started by Dope Nixon, Oct 22, 2011.

  1. otc

    otc Senior member

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    Pretty sure my amex provides better coverage than all of the big box store warranties...so first step would be to lean harder on people who are paying with cash or check (or use it as a second chance to suggest it). They'd still have to be morons to buy the warranty...but if they are paying cash for a 500+ item, they probably are clueless to the benefits of paying with a card and might be more susceptible to your sales pitch.


    If you tell me a bunch of stories about how people were fucked because they didn't buy the warranty, why the fuck would I buy that TV? How about I buy a different TV that doesn't have hordes of people with broken TVs after only 1-2 years...

    So now, not only are you being dishonest, but you are talking me out of the sale and in to going home to do some research since it sounds like your TV is a piece of junk.
     
  2. Dope Nixon

    Dope Nixon Well-Known Member

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    Working this thursday night, I'll report back with which of these strategies work best, thanks guys.
     
  3. MikeDT

    MikeDT Senior member

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    How does one sell extended warranties in retail electronics? With lies, bullshit and fear, the way it has always been done.
     
  4. freddych

    freddych Senior member

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    Texas
    I was passing a Best Buy and I was thinking about your strategy.

    Telling the customer about how you always buy the warranty for big ticket items and how you accidentally threw your Wiimote into the TV and they replaced it under the plan would be a very good way to sell it I think.
     
    Last edited: Oct 26, 2011
  5. Unbreakable

    Unbreakable Senior member

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    Back in the good ole days. They sold you what you wanted and told you that baby will last a few lifetimes.

    but yeah, me personally. I dont give two shits about a warranty, I'll walk out if a salesman gets preachy about it, lol Honestly if I pay say 2k for a TV and it goes bad in less than 2 years, I just say meh and dont buy from that brand/store for a long time. It may/may not cost me more, but its about the principle of the matter to me, not the monetary value.

    random thought....whats up with selling a warranty on cds now?!

    Back on Topic: Lie, instill fear, site examples.
     
    Last edited: Oct 26, 2011
  6. bha

    bha Well-Known Member

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    Location:
    Toronto, Canada
    About 10 years ago I walked into Circuit City and was a looking at DVD players. I had already been to Best Buy and found the one I wanted, but wanted to see what CC's price was.

    I found the same unit and it was the same price. But they also had another brand that looked pretty good to me and was $50 less.

    The salesguy was incredibly pushy with the warranty and pretty much wouldn't sell me the product without it. His argument was:

    1. DVD players are fragile
    2. They have lots of parts that can go wrong
    3. Repairs are outrageous and usually cost more than the entire player did.

    I looked at him and said "Well you made 3 good points.... for why I should NOT buy that DVD player if it's total junk. Thanks for your time"

    I turned and walked out, after briefly seeing his jaw hit the ground. I think he was surprised that his spiel would backfire like that :)

    Now that I had decided to buy the more expensive player, and it was the same price at both stores, I went to BB just because the CC guy was a douche.

    Had he been honest with me he would have made a sale. But now that I think about it, he was probably compensated better for the cheaper DVD + warranty than he would be for the more expensive one without warranty.

    Another story: neighbour of mine bought the crappiest cordless phone ever. He was told at BB that it was the best one they made out of 5 brands he was comparing. He looked at me (feeling dumb) and said "I think what REALLY happened was the kid that sold to me got $3 for selling a cordless, but $8 if he sold me this brand". It wasn't better, the salesguy was just compensated better :)
     
  7. ShaneB

    ShaneB Senior member

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    It isn't really - fear of the unknown allows you to hedge your risks: unknown variables are essentially risks, that's why you buy insurance. You might get burgled... or you might not, but to control that risk you buy building / contents insurance; warranties are sold on the same principle.
     
  8. dickhertz

    dickhertz New Member

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    Sep 2, 2013
    In order to sell anything you must show a value to a customers.
    What you need to do is to find a repair orders from your store .
    Or You go to the repair shops tell them you need an estimate for instance..That you have a samsung 7000 or 8000 what ever it might be, that you your Pixels are burned out..How much would it cost to repair something like that ?
    Do some research ,,I know for fact that some manufactures only cover certain components.
    You gotta show them..Ask for higher price then tell them I am a new I can sell it to you at employee price. for my repeat customers.
    Trust me it works..I do it everyday..I am strong as death when it comes to closing.Ask them if you cant afford $200 warranty now..how can you afford $2000 repair?
    Its not about winning when in comes to closing or out smarting a customers is by helping them..if they see you are sincere they will buy it ,tell them what is covered and what;s not some sales people always say ..oh yeah its cover for 5 yrs.If the warranty starts after the manufacture warranty tell them this one is platinum warranty zero DECT....dont lie.
    Hope this helps
     
  9. Blackhood

    Blackhood Senior member

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    Location:
    Cambridge, UK
    Seriously? DickHertz for a user name and a two-year thread bump?
     

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