What percentage of ‘unsatisfied customers’ do you have?
Well, in fact, probably they are no longer your customers. This question is critical for the medium and long term success of your business.
Let’s think for a moment. If you have a ‘hard to pass’ devolution policy, I mean, you don’t make it easy for customers to return something that they bought and are not happy, they probably will get more unhappy. This means that someone, that put trust in you and was your Customer, will probably go to the other side: those who don’t talk well about your business (the worst advertisement about your business is bad word-of-mouth experiences). If this was the exception, your business will probably go ahead. But if this is in fact a policy of your business (making returns difficult to unsatisfied Customers), you will very soon come up against an army of people who oppose your business.
What is the Opportunity Cost of not accepting a devolution?
Imagine how many new sales a business can lose for not accepting a devolution one day. Probably, this customer will not come back in 10 years. More often than not, he will tell of his family and friends not to do business with you. This person might have a high social media influence and share with millions of people his bad experience about your business.
Customer Devolutions is a normal process. The more sales you have, probably the more devolution transactions you will have to do. It doesn’t matter, because Customers need to know that they can easily buy and in case of unsatisfaction also easily return.
Returns are Customer Feedback and valuable information for your business
Yes, this is a very important point. Every day you probably sell hundreds of products. People purchases and carry those products home and most likely you know little more. You only wait for them to come back. But what if they never come back anymore?
The Devolution process is a very valuable for two reasons.
Firstly, you get direct feedback from your Customers about the products you sell. Don’t be foolish. Take advantage of this valuable information. They own the real experience about the products you sell. You can use this information to improve your product offering and stand out from your competition.
Secondly, you have the opportunity to gain loyalty from your Customers by doing a great and easy devolution process. If you surprise them and make them feel great because you made them easy to solve their problem, they will become your Clients (e.i. the Customers that come back to you any time they need something). Because as I told you in a previous article, the key for a business is not to sell, but to keep your Customers coming back again and again. This will bring you the sustained Cash Flow and positive Working Capital for having a thriving and healthy business.
Do you want Customers or Clients?