Building Customer Loyalty Through Your Return Policy
- You have a 60-70% chance of selling to an existing customer, while you only have a 5-20% chance of selling to a new customer. Loyal customers also spend more per order.
- The cost of acquiring a new customer can be from five to 25 times higher than keeping an existing customer.
- 78% of loyal customers tend to recommend the brand that they love to others.
A loyal customer who returns to your store is much more valuable than a new one. The key is to create a relationship between your e-shop and buyers. How? By creating great shopping experience, including great return policy. The most successful online stores like Amazon or Zappos built their entire business on fast shipping and easy returns. They wanted to create a strong relationship with their customers.
Online retailers hate returns and their customers hate them, too. However, the truth is that almost 30% of all products ordered online are returned. High return rate isn’t always a threat to your company. You just have to know how to deal with returns effectively and how to turn them into your advantage. A today’s customer is looking for an easy, fast and cheap return process. Price won’t be soon the key to differentiate your online store from others. And if you provide an excellent customer service, including perfect return process, don’t be afraid to charge more. 86% of buyers are willing to pay more for a better customer experience.
- Be fast. 80% of buyers want easy and fast return process.
- Make your great return policy visible. 60% of customers are satisfied when return policy is easy to find.
- Offer free return shipping. 68% say free return shipping is a key to a positive return experience.
With more than 60 % of buyers who consider e-shop’s return policy before making a purchase is a good return policy crucial to all online stores.
Karolína Alvaradová – creates a perfect return process at Retino