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Quality is an essential factor in determining the success of products and services. Companies strive to provide top-quality products to earn their customers' loyalty and stay competitive in the marketplace. However, many products fall short of expectations, resulting in warranty claims. By implementing a digital process for collecting and analyzing warranty data, manufacturers can determine which factors contributed to a product being faulty. You can then use this data to improve product quality and quickly take corrective actions to reduce costs by decreasing the number of warranty claims.
Faulty products are critical for your customers and can cause frustrations if not resolved quickly. It’s important to, first of all, have a convenient and hassle-free way for your customers to submit warranty claims. You might miss out on valuable product quality data if the process is not simple from a customer perspective. Making it easy for customers to submit claims is essential to improve customer satisfaction and earn customer loyalty.
You probably have several spreadsheets with data on faulty products that are hard to navigate, a pain to make sense of, and most likely unstructured. Managing your warranty claim data is a company-wide challenge, impacting multiple departments, including but not limited to quality control and customer service.
Applying a data-driven approach to collecting warranty claims will help you decrease the number of faulty products to improve your customer loyalty. The data can also be used to see the best- and worst-performing products and is, therefore, an effective way to improve product quality and reduce unnecessary returns.
You can also use the data to predict the number of claims and how much they cost the business. You can even take it one step further and enrich the data by adding custom tags to uncover at which stage of the product’s lifecycle the fault occurred.
For example, you can see if the fault happened before or after usage. And you can go as detailed as you want; did the product fault happen before use and during transportation, or maybe a packaging error? With this data, you can make informed decisions and track trends.
Efficiently using data on faulty products means implementing a streamlined claim process with claim management solutions like Claimlane to identify product quality issues and shorting your detection-to-correction. The challenge is often not collecting the data but instead having it be organized and easily accessible across the whole organization.
Monitoring your claim data will ensure that repeating product issues are eliminated quickly by taking corrective actions. Doing this will:
Data is the lifeblood of modern brands and retailers. However, providing advanced insights to relevant departments can be extremely challenging. Brands must implement tools like Claimlane to help overcome these obstacles. A digital approach that unifies and enriches data automatically in a centralized manner will thereby ensure that the right data is at the right place at the right time. By doing so, brands will benefit from leveraging warranty claims data by making claims handling a value-creating activity to improve product quality and customer satisfaction.
