How You Can Reduce Cancellation Rates
Gone are the days where you have to pull together spreadsheets of cancellation data and analyze them in Microsoft Excel. With Inline CRM for VSC sales, you and your extended warranty fulfillment business can pull together a streamlined, effective cancellation report that shows you a comprehensive snapshot of where cancellations are occurring. This will help you improve the performance of your extended warranty sales and vehicle service contract sales fulfillment. There are a number of points of data that you can use to determine where your business can reduce cancelled orders that are highlighted below.
Cancellation Analysis Report
Determine which different vehicles have higher cancellation rates. Depending on external circumstances, faults due to manufacturing could be to blame. With Inline CRM for VSC sales, you will find out whether or not this is the case.
Depending on the nature of contracts with business partners, different vehicle service contracts of different lengths will have higher cancellation rates than others. Inline CRM is able to determine this with ease and accuracy.
Groupings By Finance Team
See exactly how long past the sales start that your business’ finance team has had to cancel orders. You will then have the information necessary to be able to make important business decisions.
Cancel Rate Trend Report
Time Of The Year
Seasonality often affects the cancellation rates for different sales contracts. You and your business will be able to uncover whether or not high cancellation rates are caused by seasonal fluctuations.
Sometimes, cancellation rates spike due to industry-wide anomalies. Using Inline Data Systems’ CRM for VSC sales, you and your call center can determine if high cancellation rates are due to your business practices or across your entire industry.
Depending on how much of a down payment manufacturers pay for services, the interest along with repaying the rest of the equipment might be too much to bear. Determine if high cancellation rates are due to issues with down payments.
Cancel Rate By Employee Report
Statistics Per User
Depending on which users interact with the site, you can drill down even further to determine what would cause certain users to cancel their orders over others. For example, certain demographics might be more prone to high cancellation rates.
Cancellations Within A Selected Date Range
You can segment out different date ranges to report on whether or not cancellation rates increase for a certain date range over another. That way, you can begin to predict what will happen in the future for you and your business.
Creation Of Account To Date Range
See how overtime cancellation rates have differed from the date of an account’s creation to the present date. From here, you will be able to see patterns emerge that will help you determine how to make better decisions for your call center.
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