Strategies for Thinking About Returns

Strategies for Thinking About Returns

Strategies for Thinking About Returns

Returns management of course must be managed properly if you are in the e-commerce business. Knowing the right strategy can certainly help you manage the return of goods or returns in an easier way while giving you more profit. If you don't really understand how the return management strategy works, you can find out a strategy that includes the following ideology and return management tips!

Attract Customers

If you have a return ideology or strategy to attract customers then you should optimize your website to do this strategy. The reason is that the return policy in your business is a pretty important marketing asset. Data shows that more than 60% of customers will check the applicable return policy before deciding to purchase your item or products. If you explain your return strategy well and the policy is acceptable to the customer then it can give the customer confidence to buy your product even for the first time.

You need to know that building customer trust will certainly be very helpful in an online-based business. A study shows that 81% of consumers need to trust your product or Grand before they decide to buy from your store. Usually customers who have applied for returns have higher purchasing power and have made multiple purchases. This means that you have to optimize your website as a marketing tool and build customer trust. You can also implement a return strategy or policy by offering free exchanges, store credits or refunds.

Reduction of Refund Rate

Some business owners may avoid refunds as an option in return management. The reason is because if you offer a refund usually it will make customers give up shopping at your store and they are likely to no longer buy from you.

By implementing a cash return, you usually can not only lose customers but can also be detrimental because you have to pay shipping and processing costs for orders that are not sold. If you want to avoid this loss then you should choose the right return option such as offering an exchange of goods. Some options that you can apply in the exchange policy include free exchange, store credit or if you have to return in cash then make a policy about shipping costs borne by the buyer. By offering appropriate goods or exchanging goods, you can avoid losses and lose customers. Surely customers who are happy with your service will leave positive reviews.

Cost Reduction

If you are more concerned with reducing costs in the management of returns or returns then of course you have to charge shipping costs to your customers. However, reducing operational costs by charging customers with shipping costs can be detrimental. For example, customers who are buying for the first time may not make a purchase or customers who previously tend not to exchange goods and prefer to exchange money. The best strategy for reducing the yes costs incurred by exchanging goods is to charge different customers postage or other fees from time to time. For example, in the first month you can apply fees for exchanging goods, store credit or money and in the following month you can eliminate these costs or reduce them except for the refund option which is still deducted by shipping costs.

Tips for Running a Return Strategy in Your Business

No matter what strategy or ideology you will adopt in return management, you can try the following tips to make the return process easier and more profitable.

Your Return Policy Must be Clear and Attractive

If you want to handle returns like a pro then you definitely have to make it easy for the customer. It all starts with creating a clear and attractive return policy. If done right, a return policy can even be one of your biggest marketing assets.

In other words you can start your business success from creating an attractive return policy. You can tell your customer that you offer free shipping if the customer wants to return the item. This offer will greatly affect buyers because 67% of buyers mostly check the return policy first before making a return. So offering free return shipping can be a big draw for your business.

Have a Dedicated Page for Return Policy

Already have a good return policy? Next, make sure you put it front and center of your e-commerce website. Don't hide it and it's best not to just write it down in small text under your website or site. Make sure the special page that creates the return policy is easy for customers to find and understandable.

Set Return Deadline

Some sellers or business owners choose to limit customer return times to a narrower term. This strategy is actually not the best solution in terms of returning goods even if you apply a 1 month time limit. If you can see some businesses that grow big usually protect their customers with a return policy with a long enough time limit, for example 1 year. They also offer free shipping returns for customers. Even though this looks detrimental in fact their business is growing and they are getting more sales. For that you can consider the time limit for returning goods by customers so that they can freely return goods when needed.

Direct Customers to Exchange Items

Another strategy you can apply to reduce your business' operational costs in managing returns is to offer an exchange of goods. By offering an exchange, of course, you can get another chance to satisfy your customers and leave them with a positive impression. That way they don't hesitate to leave good reviews for your business and make other people interested in buying the products you sell.

Use Special Software for Returns

In addition to relying on a return policy, you can also use special software that can help you manage returns from customers. Software like ReturnKeycan be very beneficial for your new business. By using ReturnKey, you can also implement a return policy that suits your business and reduce operating costs. You can overcome the process of returning goods more quickly and efficiently so that you have the potential to get greater profits.

Whatever strategy you use in return management, you should still consider it well in order to provide positive customer service and increase sales and make your business better known.

Related posts

tail spinner animation