Product Return Policies – Are the Business getting it Wrong Altogether
If you’re into a consumer-based business, then product returns is surely the last thing you’d want to come across. But wait, although, it may seem understandable, but is it really something for which to set the panic alarms on. Well, let’s digress into it, and try coming up with a new normal. There are companies who tend to incorporate a lot of restrictions, thereby, making it somewhat impossible for customer to make returns. It surely isn’t a prudent policy, and a balance approach can make the business initiative a whole lot easier, sustainable and profitable.
The Policies that Work
A selective approach in terms of return policy can be handy. For instance, if there’s a genuine reason for which the customer intends to return the product, then leniency in that regard can work out well. Even a 45-day period can be relax in that case. Remember the rule: Satisfied customers result in a flourish and cherish business. How to gauge if a return is genuine and would attract customer appreciation is something the employees should be train for. The idea should be include in the training manuals, and workshops for the said purpose should be conducted as well.
Evaluating the prospects of potential returns
Another aspect that your business should look into while evaluating the prospects of potential returns is the value customers. Every business has clients that provide you with plenty of business. In addition, there are non-monetary reasons for a customer to be including in your ‘valued’ list. It all depends on what industry you operate in, and how do you intend to go about the business. Valued customers should be provided with leniency for the returns they may wish to make. If they’re regular customers, then just remember that the cycle would continue. All you need to do is to value your customers, and they’ll return the favor with more purchases.
When it comes to return policies, make sure never to be stagnant. Think outside of the box and implement a consumer-friendly business policy. Try not to be rigid. This doesn’t imply that you ought not to follow the script, but altering the rules for the greater benefit of the company shouldn’t be overlook. After all, the rules are meant to benefit the business, and if these aren’t congruent with what the customers want, then the business may dwindle. Therefore, product returns should be taken seriously and the related policy are devised prudently and effectively.
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