Your company may work toward one-click purchases, but are you putting the same amount of energy into your return process? By focusing on end-to-end customer experience, companies are more equipped to rethink processes and impact the entire customer journey.
For a Fortune 500 communications technology client of ours, this meant helping it alleviate pain points within the returned merchandise process. Its supply chain worked well to get new product to customers, but their reverse supply chain wasn’t prepared to address the surplus of earlier products.
Because the fragmented processes for returns were not aligned to customer segmentation, it frustrated customers, delayed resolutions, did not treat customers uniquely, and led to high customer call volumes asking for status updates. These compounding issues led to significant overhead costs and substantial write-offs.
Streamlined Returns, End to End
We set up an automated system using analytic models and machine learning to streamline inefficiencies and improve the end-to-end customer experience by identifying returns and the Next Best Action (NBA) checklists that guide appropriate turn processes. Automated recommendations get processed by machine learning to improve the process over time. Omni-channel customer visibility services provide a single view of customer-reducing silos. The new process also provides active product return and delivery status updates to customers.
Result: Savings, Not Write-Offs
Following our work, the client’s customer experience scores spiked 10 percent and its phone calls for status updates decreased 30 percent. Better yet, our client projected $10 million in savings on delinquent asset recovery that would otherwise have to be written off.
Implementing an automated system with a targeted focus on the importance of customer experience drove standout financial savings for our client. We can do the same for you.