Five Strategies to Lower Order Cancellation Ratio
Any salesperson worth their salt will tell you that no sale is 100% guaranteed until the product or service has been delivered and money has been credited. Given the cancellation and return policies that businesses must offer as part of their customer service, even that isn’t set in stone. In the e-commerce industry, your returns policies play an integral part in customer satisfaction, irrespective of whether or not you provide the best support to customers via outsourced customer service.
Research shows that 90% of e-commerce customers “highly value” free returns while 96% would turn to a retailer again based on the ease of returns. For sellers, especially those in the B2B market, canceled or returned orders are a bigger concern because of longer sales cycles and the ticket size.
Customer experience can also be greatly improved by simply providing options for returns or cancellations, while completed transactions can improve a business’s bottom line, brand image, and customer engagement. Here are five ways to bring the order cancellation ratio to a minimum:
Provide Easy Access to Information
The 21st-century customer is well-informed. Most customers research products before purchase. A survey by GS1 UK found that 42% of respondents had abandoned a purchase because of an information deficit. Providing detailed information, like product specifications, utility, and pricing can reduce the chances of cancellations and returns.
Enabling hassle-free access to support agents can also encourage customers to reach out for information they cannot readily find. Agents at call center outsourcing companies can leverage cross-selling and upselling opportunities by helping customers find products suited to their individual needs.
Make Transparency a Priority
With regards to product or service functionality, availability, or tracking of orders, being transparent with your customers can reduce cancellations. A clear and effective communication strategy can also improve transparency. Providing 24/7 customer support via customer service outsourcing is known to have a positive impact.
Use Technology Smartly
Technology can be a life-saver for e-commerce businesses. In tracking inventory or communicating with customers, employing technology smartly can boost customer experience and deter mid-purchase dropouts. For instance, advanced programs and inventory management software can provide up-to-date product lists. This can reduce any delay-related order cancellations. Technology can also be leveraged for swift communication, as in the case of chatbots that provide round-the-clock customer support.
Verify High-Value COD Orders
When shipping a high-value cash-on-delivery product, an unavailable customer can cause substantial issues for your business, both in terms of logistics and higher costs. It is always better to confirm a customer’s availability before delivering a COD order. This can prevent last-minute cancellations and save you from substantial losses.
Find the Right Partners
An e-commerce business needs to rely on multiple partners for the effective delivery of products. From logistical collaborations to call center outsourcing companies, a wide network of stakeholders impact customer experience. This is why it is vital to find the right partners to create a reliable experience chain for your customers and avoid cancellations because of dissatisfaction.
The Allsec Experience
When it comes to choosing a partner for customer service, Allsec guarantees a complete, unforgettable customer experience. With our digital strategies and deep-dive insights, we ensure high conversions and minimum cancellations. Reach out to us for more information.
