Rolling Out a Comprehensive Home Premium / Paid Support Program to Create a New Revenue Stream
Having recognized that they had to aggressively augment product revenues with services revenues, the client wanted to launch value-added support services for their out-of-warranty products. However, CSS Corp sensed a broader opportunity for the client to build on our rich legacy in supporting a wide range of home technology devices. We proactively approached them with an idea to widen their premium / paid support business model by introducing six (6) and twelve (12) month subscriptions. This change would allow the client to roll out a whole home premium / paid support solution for their networking products and all other connected third-party home technology products. The outcome was a 40% conversion rate among customers from warranty to premium / paid support, at a customer satisfaction (CSAT) of 96%, and the creation of a whole new revenue stream.