The benefits of upselling

Added value warranty products offer a profitable upselling opportunity for dealers – and not just in a financial sense. At Opteven, we also offer a wide range of added value insurance products suited to different customer needs. Here, we highlight the benefits of using these additional asset protection products as upselling opportunities.

For customers, a robust warranty is an important factor to consider when purchasing a vehicle, as it provides financial protection against unexpected faults and added peace of mind. However, further added value products, like our asset protection and MOT insurance, can ensure even greater protection, as well as providing a number of additional benefits to dealers.

 

1. Added revenue and profitability

In a crowded marketplace, providing added value products, like our Safe & Sound^® Tyre and Alloy Insurance, can help ease a buyer’s concerns around unaffordable repairs later down the line – and may just help to seal the deal.

Our added value products can be used as part of an upsell, as a means of reassuring customers that their increased investment will be protected – helping to achieve higher value sales.

 

2. Greater customer satisfaction and referrals

Due to the complex nature of vehicles and the thousands of moving components they contain, sudden mechanical failures can occur at any time. For this reason, no dealer can guarantee that unforeseen problems will not arise in the future. However, dealers can offer peace of mind that if they do, they won’t result in financial hardship. Our Safe & Sound^® MOT Insurance, for example, provides protection for customers against component failure that may result in a V20 MOT Test certificate not being issued by a test station. As such, this cover may help ease a customer’s concerns surrounding the MOT process and generate greater customer satisfaction after purchase. A happy customer will be more likely to return for future purchases and recommend the dealership to others, improving brand awareness and referral rates.

 

3. Increased value

Policies like our Safe & Sound^® SMART Repair and Alloy Wheel Insurance cover both the vehicle’s bodywork and alloys, with separate claim limits for each. For a relatively small outlay, customers can rest assured that their vehicles are covered even for tiny scratches and scuffs – without affecting the no claims bonus of their general car insurance. With SMART Repair, a customer’s vehicle remains in better condition, for when they come to sell it on in the future.

 

4. Build customer relationships

A primary concern for many car buyers is the potential financial burden that may arise if their car is written off or damaged, especially if the vehicle is financed. Designed to help customers get back on the road as soon as possible in the event of a serious incident, our Safe & Sound^® Combined GAP Insurance covers the difference between the insurance pay out offered and the value of the car at purchase, should a vehicle be written off or declared a total loss.

It also includes added benefits including temporary vehicle replacement cover and excess cover up to £500, which can be used on three separate occasions. As such, offering your customers GAP Insurance is a great way to build customer relationships by letting them know that you as the dealer have their best interests at heart.

 

Offering added value insurance products to upsell alongside used cars, can be beneficial for both customers and dealerships. Not only do they provide greater cover for the customer and generate additional revenue for the dealer, they also as boost customer satisfaction and referral rates. For more information about the added value insurance products that we offer, contact a member of our team today.