Nothing is certain in the world of product sales aside from taxes (in most cases) and returns. As you start to sell more, your rate of product returns will increase accordingly.
Some analysts estimate that nearly one third of all online purchases are returned, a statistic that is even higher for brick and mortar locations.
What does this mean for your business?
Product returns erode profit margins. It doesn’t matter if you are offering free returns or not, any time a customer returns something it will negatively impact your bottom line. While it may be true that you can turn these potentially negative experiences into positive sales opportunities, your ultimate goal should always be to stop the bleeding from the source. This means reducing your product return rate.
Here are 3 creative ways you can reduce your product return rate starting today.
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We’ve all been there.
Sometimes, you have a bad customer service. It does not define your brand. But, it is a great learning opportunity. What went wrong? Could it have been avoided? How will you prevent the same mistake from happening again?
While positive customer service stories can help you define your model for exceptional customer service, the negative ones are just as important. Negative customer experiences shape the way your customer experience changes to address potential or existing roadblocks to customer service success.
Here are 3 great examples of large companies who have lost customers due to a lack of great customer service. We’ll also show you how to fix these issues before they happen to you (without having to spend a fortune!).
Continue reading 3 Examples of Bad Customer Service & How to Fix It
Analytics is a trending topic for companies dealing with product returns. Returns data provides an incredible amount of insight into why returns are happening so patterns can be broken, returns minimized, and the overall customer experience improved.
Knowing why your products are being returned and analyzing which products are returned most, for example, is incredibly powerful. You can improve inventory planning, conduct more in-depth product testing, and make adjustments to your products to improve your sales and return rates.
Continue reading Using Returns Data to Improve the Customer Experience