What is it?
Depending on your offering, you might have a standard guarantee or warranty, allowing to extend it for an additional fee is a source of additional income and something your buyers will apprecoate
Why does it work?
It works because it plays on the buyer’s need to feel secure and prepared for the future. Having the option to pay for an extended warranty is simple enough to implement and, depending on the uptake in claims, is something that could be profitable too.
How can you use it?
If appropriate to your offering, could you offer an extended warranty, or partner with an extended warranty company who could create a bespoke package which you could sell?
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