As the holiday season approaches, are you ready to make your customers love returns? While many business owners dread the influx of returned merchandise—an estimated $171 billion worth last year alone—savvy entrepreneurs know that returns can be a golden opportunity. By mastering the art of handling returns, you can transform what is often seen as a setback into a powerful strategy for customer retention and increased sales.
Discover how to Join 70% of business owners and entrepreneurs to get it right with the sales game this season. Learn how to improve your return strategy and make it big in sales.
Paul, an entrepreneur of Alwal Products, lamented how he had lots of customers over the months due to returns. These returns last year, an estimated $171 billion worth of merchandise was returned over the holidays. Most times, it is an oversight of the business owner. However, Paul who is interested to know how to attract customers this season, is about to be happy because these are proven ways to get your loyal customers back and increase your sales this Christmas.
One of the highest expenses to any business today is the cost to acquire a new customer. However, the point remains that the importance of having a regular of return customers is essential to any business if they want to thrive in sales this Christmas. As a business owner, your return customers are your valuable assets.
Worried you may be left behind? Here are proven strategies on how you can attract value to your return customers (and employees) and increase sales this season.
Your customers are your valuable assets.
- Understand your customer triggers:
In order to be able to convince anyone to buy, you must know everything that triggers them to take any action: whether to stop making the progress of purchase, why they return most products, what makes them value a product or purchasing from the chosen distributor. Although this one also includes what makes them buy, which is the pain point and problem, however, this has to do with the instinctive command of their action.
Note that after one purchase, a customer has a 27% chance of returning to your store. If you can increase their likelihood of returning to purchase from you, they have a 57% chance of making another purchase.
Here’s a story of why knowing your customer is important.
Paul sells … in the e-commerce platform, and customer A buys one product. While Paul’s policy promises delivery in 78 hours, customer A waits for more than 78 hours. When the product finally comes, it turns out that it isn’t what was ordered that came in. Customer A tries to communicate this with Paul’s service. Still, the response rate and policy imposed are not favorable. Paul gets a negative review on his products and purchase system as negative. He automatically loses not just customer A but other customers.
You should know that it is very important you set systems in place for customers because returning customers increase sales through word of mouth, returning for more products and buying at a higher rate, advertises your products. So, what do you do to avoid Paul’s mishap?
- Set a system and policy of purchase that is easy for customers
- Make sure what you deliver is what is ordered
- Create a communication room for customers to keep in touch
- Your product should be valuable enough to trigger them to buy.
2. Eliminate any opportunity for return product:
As earlier stated, the rate at which products were returned isn’t funny. So, for your successful sale and to maintain your brand trust, try to eliminate anything that will cause your customers to return your products. Find out who your audience are and why they return certain products. What could possibly upset these audience to not want to use or purchase your product anymore? The next step you should take is teaching them how to purchase and use the product. If the product demands certain steps of purchase, explain how to go about it.
3. Add value in customer service/ what’s in it for them:
Have you ever wondered why a particular customer never came back? It could be your lack of good customer service. It could be that you couldn’t them well and treat them like they loved to be treated as customers.
If you want to improve your sales this season, if you want to make your customers love to return, plan to wet their love by doing the opposite of what they didn’t think you could do. You can full stack your incentives, showcase and promise adequate customer service.
Improve your customer relationship by making them feel special, heard and respected; depending on your kind of business, you can form a hangout to give back to them as a form of pampering.
Revisit your offer and create offers that can actually serve them. Let your product’s benefits be communicated adequately.
Read: You Just Lost Another Customer Because You Are Yet to Learn This Customer Service Secret
4. Get your marketing strategies set and straight before time:
Discard your old way of doing your own black Friday. Find proven ways to market the benefits of your product by establishing a no-doubt marketing campaign. For instance:
a) Your value proposition should be looked into and readdressed: Remember, you’re not the only one selling that product, so why do you think they should buy from you?
b) Increase visibility: the rate at which you will meet your sales goal is proportional to the number of people that will see it. It is not just by seeing it but seeing the good side of it. So, how do you achieve this? Invest in a quality influencer marketer, run a convertible unlimited ad that targets the right audience, work with a content format such as a video etc., that can convince your audience more, make noise by practicing noise-making marketing, and convince your existing customers to talk about our product and promise them an incentive, create an irresistible offer.
c) Meet their expectations and beyond.
5. Your return policy should be easy to understand:
Your return policy shouldn’t be too tacky to understand. It should be an easy
process they follow to at least get what they want: either a refund, an exchange or store credit.
A frustrated customer will not become a returning customer. Your returning policy should include the number of days they should actually return the goods for some reason, and it should state the choices they want as a result of returning the products.
However, this is an opportunity for you should understand your customer and how you can buy their trust. For example, suppose you identify that customer A has a high spend ratio and low return ratio. In that case, you may want to offer customer A a flexible, no-charge return policy as a reward. On the other hand, if customer B has a high return ratio, you may want to charge customer B for the shipping and shorten the time window on their return.
This creates an environment for them to feel safe and trust you.
Conclusion
In conclusion, since the competition is going to be high, a lot of business owners and entrepreneurs want to know how they can improve their sales this season. They are hoping that since sales have been moving in the past few months, it can get better.
Are you looking for effective strategies you can increase your sales this festive through your return customers? Follow each strategy site above and make sure your product will be worth the value vibe.
Enjoy your sales.
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