Using Data Analytics & Customer Feedback to Save OEMs & Retailers $Millions
Product returns of consumer electronics have been, and continue to be, a costly component of doing business for both retailers and OEMs. With margins continually squeezed and high competitive pressures, the load of handling a return can be devastating to financial results. Further, the experience of a return, for reasons of malfunction, difficulty in operation, or just buyer’s remorse can sour a customer against the retailer and/or the manufacturer’s brand.
What’s worse is that, in most cases (often over 90%), the returns are eventually categorized as “No Trouble Found” (NTF), meaning that they are NOT due to equipment defects. Therefore, they likely could have been avoided.
OnProcess has, for some time, provided programs that have successfully reduced return rates through proactive outreach following the sale. By reaching out soon after a purchase, often within 24 hours, our team has an opportunity to engage with the customer and, through that event, provide product assistance and education that can transform a likely unhappy return into a happy product user.
Now, through a new and unique approach using data analysis and statistical modeling, we can reduce the number of outreach efforts by identifying those customers with a high Propensity-to-Return™ . This process also incorporates feedback from engaged customers to inform our clients, and provide continuous improvement in product design, launches, point-of-sale and marketing efforts and manufacturing processes.
New White Paper Available: Returns Reduction
If you would like to learn more about OnProcess Technology’s Returns Reduction programs and the Propensity-to-Return™ model, let us know by clicking this link and asking for the Returns Reduction White Paper.
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