hey guys this is Gary Lee Stanley
yourselves guys hey today we're gonna
talk about my favorite subject which is
sales all right we got a great subject
for sale so let's go ahead and dive
right on into it see how didn't give you
a little fist pump okay here we go
selling extended warranties and more how
to do it
I said selling extended warranties and
more how to do it that's a real good
question
this is a take off from one of my videos
that I did here in the past and I'm
gonna tell you what a lot of people are
interested in this particular subject
cause see a lot of companies they deal
with guarantees extended warranties
maintenance agreements service
agreements repair agreements replacement
agreements and if you don't know the
fundamentals it's kind of hard to be
able to sell them so my simple job today
is to give you some encouragement give
you a little fist bump and say hey
listen you can do this okay one of the
benefits first off for the salesperson
is it makes you look good besides just
selling what you're selling it also
gives you the capability to bring your
numbers up and if you're working on
Commission which most salespeople are
you get a percentage now you could be in
customer service talking to people over
the phone you could be doing you know
just a lot of different businesses now
sell extended services and the reason
being is warranties are very limited
generally they give you about 90 days
sometimes a year if you're lucky and a
lot of times it doesn't really matter
because see generally what happens is
during that timeframe things normally
don't break down but if they do
sometimes you'll have to deal with the
company and sometimes they'll replace it
but a lot of times they're gonna say
well did you get the extended service
and if they did it it makes you as the
salesperson look really really bad it
makes the customer feel as though they
got taken advantage of now I have bought
some things in my past that you know I
didn't get extended guarantees on and
they broke and it's like you know I
scratched my head because it was right
out out of the time frame that the Union
the guarantee was over and I like a man
I spent all that money and I was real
frustrated so you may not believe in
extended guarantees and warranties but
that's okay that's your personal biz
but for me I believe in them because
I've seen them used over and over and
over again for a lot of different people
to be able to either replace a product
get an updated product or just to do the
basic maintenance to make sure that the
product that they have really works and
lasts for a long time you know my name
is Gary Lee sealing yourselves guy and I
told you I'd tell you some things that
most people won't talk about when it
comes to sell so we're just gonna have a
basic conversation and I love cells okay
so I buy warranties pretty much it
guarantees on everything I purchase
because I sell them so when I'm talking
to customers I've got a little bit of
skin in the game so I'm able to have a
conversation with the customer and go
yeah I know it sounds expensive but let
me tell you the benefits and the
features because if you give them some
features and some benefits and what's
going to happen it's gonna really help
them and another thing is you got to be
honest with these people because if you
don't tell these people these things may
break down the road shame on you because
so you could have given them the choice
to make a decision on whether to buy
your service agreements or not and plus
the company expect the companies expect
you to at least offer this product to
the customers because see things break
they're man-made women made and then if
you don't ask you can't you can't help
them and see they'll be frustrated and
see here's the thing they'll be mad at
you the salesperson first off then
they're going to be mad at the company
and then they're gonna be mad at
themselves because daggone I brought a
piece of crap and they may not ever buy
from you again because you didn't offer
that service agreement now listen
sometimes the service agreements don't
get used but that's okay because see
you've gotten them a peace of mind they
reflected they look at the dollar value
and like I said some people don't buy
service agreements or warranties or
replacement guarantees because they just
don't believe in them if you're a
salesperson you better believe in them
because see that's the backbone of the
industry why do you think they give a
limited guarantees limited warranties so
that we we can offer additional services
so people can have a peace of mind you
know the one thing is some like
insurance so you know insurance you know
people buy a star's life insurance and
but eventually they know they gonna kick
off and didn't know it's going to pay
off and like I said if you have a
product that has a limited
amount of time or if you have a service
that's limited you've got to offer those
guarantees you know especially like say
for instance if you're selling furniture
for instance electronics any high ticket
item you know they come with a limited
warranty but see let's just say for
instance a sofa if you're sitting in the
sofa for over a year or two you know
it's gonna get worn out you got them
kids jumping all over the thing you got
them dogs jumping on it and if you ain't
offering an additional service like a
fiber protection for the customer shame
on you what if it's got mechanisms and
things that move okay just like a TV
electronics they all got moving parts
somewhere in there somewhere that boards
electrical boards and stuff and
sometimes then things burn out and if
you got some movement especially these
days they're doing with the electric
with their the chairs recliners and
stuff you know if that thing were to go
out now they got a piece of furniture
that they can't even use then they got
to spend all this money out-of-pocket to
have a technician to come out after the
warranty is over with and say hey can
you fix it and then we either be there
charge them a lot because you know
technicians time when they go out to the
house it calls a lot of money but if
they have a service agreement they can
fit it probably in their budget
fit it in their payment schedule and at
least extend the gate and guarantee out
for at least five years or more it
depends on what company you work for and
by having that peace of mind the
customers investing in something and so
with that in mind if something does go
wrong they rip or tear because they got
a guarantee that covered that they're
happy man because I've seen it in my own
business when I sew furniture for many
years where I had to replace merchandise
and furniture bedding and things of this
nature because they had a guarantee now
the ones that really were frustrated the
ones that they didn't have it and you
always ask them did somebody at least
mention it to you and they go no nobody
ever did know sometimes they don't but a
lot of times we should if you've got
products like say for instance you've
got coverings of stuff that you can
offer add-ons to your customers and you
know just a lot of different little
things it behooves you to do it because
see it brings up your profitability for
your company but it also makes sure that
in the eyes of the management they know
that you're doing your job and
completely now listen if you buy
furniture if you buy electronics or if
you buy any
you need to make sure that if you're
going to sell the guarantees that you
buy it on your own stuff again you have
to have some skin in the game you have
to believe in your product you have to
believe that it's worth their money and
again here's what I do you know I've
seen I've had like five six seven I
don't know so many telephones that have
broken over the last couple of years
that nobody ever offered me a guarantee
I just started asking them do you have
guarantees on them and listen the reason
why is because they get their little
kickback when you have to buy a brand
new phone now I'm not saying that you
know people are out there to take
advantage of you but see here's the key
if you're gonna sell guarantees you need
to do it don't be afraid to ask for the
additional sell but what I do is when I
sell something I always just talk to
them in a nice rapport you know we have
a little a little conversation a little
selling conversation I always mention to
him hey and by the way if this were to
break on you oh my goodness don't worry
about it you won't be in the
out-of-pocket expenditures and we'll go
ahead and either service it fix it or
replace it and give you the new
technology and that way you don't have
to go out and invest in another one and
see the key to success in this
regardless you don't drop it on at the
end you and when you're talking to your
customer you're out there showing them
in the showroom or if you're talking to
people over the phone you just drop
those little hints in yeah you know the
last one what happened to the last one
that you had oh yeah it broke okay tell
me a little bit more about that why did
it break what happened well it got wore
out the kids were jumping all over the
dogs I was using the remote control it
didn't work properly after a while the
buttons kept getting stuck you know that
the cars transmission went out on me the
doggone tires didn't work properly after
so many months and there's just a lot of
different things that you can bring up
and say to the customer hey you know
I've been there I've had some things
that didn't work either but see here
this company that I work for we're gonna
make sure that in a time of need because
like I said everything's man made a
woman made events was going to break and
we're gonna have your back and you're
gonna say did you so let me tell you a
little bit about it let's talk about the
product give them some features and
benefit but let them know they can get a
peace of mind by offering an additional
services you know fiber protection
you've got maintenance agreements now a
lot of things like tractors and cars and
things like that you can sell
maintenance agreements on these
particular things to keep the product
lasting much much longer but you don't
drop it in on the customer right when
they're getting ready to sign the papers
you have to let them know hey listen
this particular tractor it needs to be
maintained at least every six months to
a year you want to at least have the oil
change every so often you want to make
sure you know you have to follow your
procedures and you also have structural
warranties you know you can have
buildings and houses and things that you
sell and you have these things that
happen structure that materials break
down over so much time just there's a
lot of different guarantees and
warranties that can really benefit the
customer but one thing I have to remind
you guys you have to believe in what
you're selling you could be working in a
store where you have all these different
products for instance for me I bought a
fan I've mentioned it before years ago
and I had one for like eight years from
the same box store but then after a year
almost are a little bit less like the
new one that I bought went out and I
paid over $100 and I could have got a
brand new one for five bucks but I
didn't want to do it I was trying to be
cheap and save a little bit of money so
you have to weigh it out some people
they want to complain about warranties
and guarantees I don't believe in that
what is okay you don't have to but if
you're gonna try to sell them you better
believe in them you know you have your
replacement guarantees which I really
love if you got replacement guarantees
that means if something goes wrong and
they can't repair it they have to
replace it they're not going to replace
it with an old one they're going to
replace it with the new technology you
know I've been selling electronics and
computers and I've sold all kinds of
different products that we have to have
a replacement guarantee on it and the
reason being is it's cheaper to fix I
mean it's cheaper to give them a brand
new one than it is to go out there and
fix the old one because it's just new
technology it changes all the time you
know extended warranties and you know
they say there's no such thing in the
warranty or extended warranty you don't
extend the warranty extend a guarantee
that what the limited things that are
that are there will be taken care of
because they always give you limited
guarantee
limited.we martín cause nothing lasts
forever and a lot of times companies
they want you to buy brand-new stuff but
they're gonna at least give you the
opportunity to buy an extended
maintenance agreement service agreement
repair service and it's just a really
good idea you know my name is Gary Lee
stealing your sales guy and we're
talking about selling extended
warranties and more how to do it first
off you have to believe in it what I do
is I go and I get a bunch of products
that have been damaged like say for
instance if when I was selling
electronics I used to have all kinds of
electronics that were that had been
broken that customers had brought back
we couldn't fix so we just replaced him
and gave him a brand new one but I would
show the clients these are the things
that can go wrong I also had some when I
was doing furniture and stuff like that
I'd also show them pieces of furniture
that would break and have disc problems
and I'd also open them up I had me a
little book I used to carry in my little
portfolio when I'm selling all the time
I'll show the customers hey these are
some things that have happened and in
this regard this is what we can do about
it if something happens because
eventually you know stuff does happen
and we want you to have the best buying
experience when you can show the
customer that they can benefit when
something goes wrong or something goes
wrong both benefit and listen your
company's watching you and they expect
you to sell these guarantees so if you
you need to watch my videos about
selling especially when it comes to
guarantees warranties extended warranty
service agreements and you know
maintenance agreements and fiber
protection especially if you have
furniture beautiful things you want to
make sure that they last a long time so
you have to get those type of
protections now like I said my name is
Gary Lee stealing yourself guy and I've
been in sales in one form of capacity
since the 80s and I'm gonna tell you
what the people who normally have
service agreements or happy customers
the ones who don't they're miserable
they're mad they know they got to spend
all this extra money out-of-pocket and
you need to tell them that say listen
you know I'm here I know I'm not trying
to push a guarantee on you but I'm gonna
tell you what you know we make fine
products everybody does but they all
break down in the
reason why we're offering this service
agreement to you is to make sure that
you're not only happy today but maybe a
year or two down the road if something
goes wrong that you're going to be happy
with me and my company in the future and
you have to relay it to them like that
because it happens people will be
frustrated when they come back in if
something's not working right and
they'll say well why didn't the guy try
to sell me the service because he was
probably afraid because they got a sell
and they were afraid to say hey listen
ma'am I'm sorry you need to go ahead and
and then think twice about this but
never sell it at the end try to plant
those seeds of guarantees all the way
through your presentation you're walking
out of showroom when that a beautiful
sofa yeah and what's wrong with the one
you got right now oh it got old the
springs don't work the mechanisms don't
work the lighting switches don't work
the fan motor don't work please break
bring up those little points about those
problems with what they got now because
it makes it easier when you're trying to
say yeah I know man we have a lot of
customers who come in here like that
they had a lot of problems with their
equipment but remember just just just
remember this one thing mr. customer if
something goes wrong with this we're
gonna make sure that you've gotten the
guarantee in place that's going to help
you in your buying decision and you're
just just win it if something goes wrong
you'll be happy that we talk to you
about our services and then you break it
down for them you ask them and then you
got a ask so does that make sense
do you have any other concerns you have
to ask these questions cause see what
will happen is if you've given a
thorough presentation even if it's only
about two or three minutes you're at
your front counter you're talking to the
customer about you know you're you're
warned to your guarantee don't look at
them alike you know do you want to go
ahead and get that be excited say look
this is a great product you know I'm so
glad that you made a decision to
purchase this today but do me a favor
let me go ahead and tell you what the
benefit is of us offering this service
because see here's the thing you paid
$150 for this if it breaks we'd like to
be able to replace it for you if we
can't service it and so it's only going
to be about ten or fifteen dollars and
over a lifetime that's up to five years
it's a tremendous savings doesn't that
sound good and I'll go
yes or they'll say no but you have to
ask for the order you have to ask did
you want to go ahead and go with that
because see you're important and you
matter and that's what we are even if
you're a customer service agent you're
working at a front counter if you're
working over the phone you're selling
you're selling the company and you're
selling the continuation of a happy
customer my name is Gary Lee Stanley we
just had a very simple conversation
about selling extended warranties and
more and how to do it so do me a favor
go out there and sell some but if you is
good for tea order you ain't selling
extended warranties maintenance
agreements of service agreements they
all matter all right