Streamlining product service operations not only preserves company resources but also helps to increase profits and strengthens customer relationships. Competing effectively with other retailers or e-commerce companies requires high levels of operational efficiency and flexibility. It may take deep analysis of your corporate landscape and investments in various software and tools, but streamlining product service operations will benefit your company in a number of ways, including:
Lower Operating Costs: Automating various processes throughout the product lifecycle can exponentially lower operating costs. By purchasing automation software to optimize operational efficiency, your employees will be able to focus more on high-level operations management and process improvement. Certain post-sales solutions may also improve inventory management and data accuracy. It also creates an opportunity to impress your customers, build brand loyalty, and run your operations more smoothly so you can invest more in growing and improving your business – and your bottom line.
Higher Customer Retention: Customer retention can sometimes be the difference between success and failure. Frederick Reichheld of Bain & Company developed a comprehensive research report indicating that increasing customer retention rates by 5% increases profits by 25% to 95%. It’s simple, really. Selling to existing customers costs less than acquiring new ones and happy customers tend to act as brand ambassadors. Therefore, by streamlining your product service operations by automating reports and offering self-service customer support, for example, you are investing in the growth of your company.
Better Post-Sales Experience: If you are in the business of product sales, you are also in the business of product returns. That’s the nature of retail. Your customer relationships truly begin with a sale, so the better your post-sales experience in both for your team members and customers, the more successful your company will be. Reporting, shipping, tracking, and customer support are all part of the post-sales experience and can be improved through streamlined product service operations.
Improved Productivity & Efficiency: Providing employees with a centralized view of your product service operations is great for productivity and efficiency. The more business intelligence, visibility into systems and data, and control over various processes you have, the better off you are. You are able to quickly address complex or time-sensitive customer inquiries, integrate shipping and tracking, and analyze your business using detailed and configurable reports.
More Insight to Grow Your Business: Streamlined operations provide more insight into customer relationship management, data collection processes, sales and product return cycles, inventory-related issues, and even employee performance. The speed and accuracy with which you are able to view your product service operations matters, as does improving any or all aspects of the process. The more insight you can gain, the greater your business will be.