Effective Product Returns Management = Increasing Your Profit Margin
The customer with a product return is your most important customer. WHY? Because depending upon how you treat your customers at the point of product returns, determines if your customer will trust you enough to ever come back again. Think of product returns as a key component of your overall customer experience management strategy.
Ask yourself and your staff a few of these questions: WHO is responsible for product returns in our company? What was our return rate last year? How many dollars? How many product returns transactions / customers was that? Why did our rates of product returns go up or go down from the previous year? What happens to those product returns?
You have sales planning meetings but when was the last time you and your team had a product returns management meeting?
Product returns have a substantial negative impact on the profit margin your company will deliver this year. And the number one reason product return have such a negative financial impact on consumer electronic retailers, appliance manufacturers, automotive, and a variety of other industries is because most companies fail to manage product returns as a business. Retailers and manufacturer’s manage their product returns by reacting to them after they have occurred -- instead of executing a proactive Product Returns Management strategy.
Our team of experts have reduced product returns for our clients up to 25 percent -- and that is a quantifiable and measurable fact. We teach you to take an innovative and proactive approach to the problem through managing what we call "The 5 Phases of the Return."
An outdated, yet commonly held belief is that product returns are simply a "cost of doing business". This couldn't be more wrong! We can show you how to execute product returns management strategies while increasing customer satisfaction and corporate profits by thinking of and treating the customer with a return as the most important customer in the store.
A few key components of our Product Returns Management strategy include:
- In-depth analysis of your sales and return history, return procedures, returns tracking and reporting, handling and processing of returns, etc.
- Management of "The 5 Phases Of The Return"
- Development and implementation of a comprehensive profit improvement program that will exceed the specific needs of your company.
- Training programs designed to yield greater associate knowledge and increased return on investment.
- Management development training for improved consistency of performance.
- Detailed performance-tracking reports.
A vital part of our program includes training a key member of your staff who will work closely with our experts. We train this person to become your "in-house" expert and one of your most valuable resources.
Stuart & Associates has created the definitive white paper on The 5 Phases of Product Return Process, DOWNLOAD and read it to start improving your results today.