"In Australia I used to do a lot of work with "Office Works" which has a similar product range to what you sell at Staples.
They had 2 programs - a replacement program for all products below $500 - premium a flat 20% and then a repair or replace program for products over $500 with individual carded pricing.
Overall the pricing at Staples is similar except Office Works operated on a percentage basis where you have a rate card.
Replacement Warranties - we used to sell them at POS (Point of Sales) and on the floor. From my experience they are probably the easiest warranties to sell.
Golden Rules -
- Ask everyone
- Don't prejudge the customer
- Give them the opportunity to buy
- Be yourself
- Be positive
- Believe in the product
Process - (the following is a mixture of processes you could use at POS or floor sales - vary around the lead in for floor sales - it is very important to be yourself and find words you are comfortable with - there should be enough here to give you the intent)
Remember to smile - look them in the eye
- Acknowledge/Reaffirm customers purchase
"That's a great printer we sell lots of those"
- Ask a qualifying question
"What happened to your last one?"
- Introduce Warranty
"Has anyone spoken to you about our replacement warranty program?"
"The good news is for only $X (or less than the equivalent of $X per month/week) your printer qualifies for an extra years replacement warranty - in other words if it breaks down in the extended warranty period we will give you a new one"
"Did you know that qualifies for our replacement warranty? In other words for only $X you are protected against breakdown in the next 2 years (manufacturers warranty plus extension) and if you are unlucky enough for it to breakdown we will give you a new one."
"Did you know this qualifies for our wear and tear warranty? If it breaks down in the next 2 years through wear and tear we will give you a new one?"
- Close the Sale
"How does that sound to you?"
"Would you like me to include that with your purchase?"
- Always clarify the objection by asking a question e.g.
"Why is that?"
"Tell me more?"
"What exactly do you mean?"
"Why is that important to you?"
- Restate the customer's objection back to them in your own words to ensure you have a common understanding, then respond to the objection
Isolate it - " Is that your only concern?"
"It is only $50 if it breaks down I will get a new one!"
- Ask a question
"How long do you expect it to last?" (they often will say something like it will be lucky to last the manufacturer's warranty period)
- Listen to the answer and respond
"Gee, If it did break down I don't know where you would be able to buy a replacement printer for only $X. I know what I would do!"
I hope this helps some of you.