As a business owner, you always want to scale up your business. To do so, you tend to improve sales and attract more customers across the globe. However, the main point is managing orders. Efficient order management is the key to satisfying your customers and making them buy your products in the future as well.
It doesn’t matter how good your order management system is. Chances of mistakes are always there. These mistakes lead to returns or exchanges of products. You need to manage these returns efficiently to keep your business going. It has a major impact on your supply chain as well. Considering the importance of return management, we decided to tell you about some effective strategies to master this art.
Strategies and Practices for Return Management
As you have to develop some robust strategies and practices to sell products, similarly you need to do the same when it comes to managing returns. Today, we will tell you about the most effective strategies that can be helpful in this regard. Without further ado, let’s delve into the details of these strategies and practices.
A Clear Return Policy
The first thing you have to do in this regard is to implement a clear return policy. This policy will help customers understand the terms and conditions of returning products. Apart from that, it will also make it easy for you to manage returns. The following are the key things that you need to do to make your return policy clear.
Firstly, you must discuss the timeframe. It will be the time during which customers can return the product after buying it. For example, if the timeframe is 15 days, your customers can return the product within 15 days of buying it.
Secondly, you must address all the terms and conditions. Tell them about the conditions under which returns are accepted. For example, if you don’t accept a return if the product is damaged after buying, mention it in the conditions.
Make sure to tell customers about the process of initiating a return. As a result, your customers can conveniently opt for returns and don’t give negative reviews about your firm.
Last but not the least is to make the return policy easily accessible. It must be present in your store and visible to everyone who visits your store. It is to ensure that your customers completely understand the return policy before making a purchase.
Managing returns is not all about explaining returns policies or accepting returned products to satisfy your customers. The main thing you have to do in this regard is to put your efforts into reducing the return rate. The main thing you can do to reduce returns is to monitor trends. Make a list of all the returns in a month and check the reasons behind them. Notice in which month you have to deal with more returns.
Look for the reasons mentioned by customers behind these returns. Apart from that, you need to check from which regions customers are returning most of the products. Based on the information you get by monitoring these trends, you can tend to reduce the return rate. For example, if most of the customers are complaining about a common fault, you can fix it to reduce returns.
Focus on Product Quality
You have to deal with returns only when your product quality is not up to the mark. Therefore, to manage returns you must focus on your product quality. If you have your manufacturing unit, you can easily focus on the quality. However, if you get them from suppliers, you must contact them and ask to improve quality. If they don’t do so, never hesitate to find some new suppliers who provide high-grade products.
It is often neglected when it comes to managing returns, but warehouse management plays a crucial role in this regard. Picking and packing of products take place in the warehouse. Effective warehousing ensures that the staff has picked the exact products as per order details and then packed them appropriately. As a result, the returns will automatically reduce.
Managing returns can be tricky, but not when you have some solid strategies. A clear return policy, effective warehouse management, and delivering high-grade products will help in managing returns.