January 24, 2023
Ecommerce saw a 37% increase in order volumes and reached a predicted market growth of 21.5%, i.e., 74.8 billion dollars. Needless to say, this increment will continue to 2023 and beyond. The E-Commerce industry in India is expected to reach a market size of US$ 111 billion by 2024 and US$ 200 billion by 2026.
These numbers also show that more people are shopping online every year. But, customers are no longer loyal to the product or its price. Instead, they stay loyal to companies that provide exceptional customer experience. If you cannot keep up with a customer's increasing demands, they will leave you for companies who can. This makes customer experience a top priority for all e-commerce businesses.
Exceptional customer experience brings us to the magic of telecalling. 68% of people say that phone calls are their preferred way to contact businesses. Moreover, 92% of customer interactions are all phone-based, making telecalling a solid communication channel that can enhance customer service.
Let’s go deeper into the e-commerce industry, understand its significant challenges, and how tellecalling can solve them.
The average industry abandoned cart rate is anywhere between 51-60%. Surprisingly, some businesses report a rate as high as 70-80%.
The Indian e-commerce business experiences 60-70% of COD (Cash on Delivery) orders, which increases the NDR rate heavily.
RTO happens when a shipment doesn't get delivered and is sent back to its origin. The ratio is low for prepaid orders, but COD orders see a 30-40% spike in RTO rates.
Every brand is looking for product validation. If you don’t have a review strategy, you are throwing away validation and not creating an organic user base or a well-known brand.
Lack of reviews and repeat order strategies affect your customer lifetime value (LTV), increasing your CAC. Not having a repurchase strategy can drastically affect customer buying behavior.
Most teams don’t have the framework for taking insightful feedback from customers. In a competitive market, a strategy for this can help retain customers and improve products/services.
Also Check: Top Cross-Selling Strategies for Boosting Sales
Abandoned cart is one of the most detrimental disruptions in a sales journey. If a buyer is not buying, then there must be a concern. You can tackle this concern through WhatsApp, texts, or emails, but nothing works better than calling. Companies have seen an easy 5-10x lift in abandoned cart rates by deploying telecallers to reach out.
NDR/RTO is the main issue during a delivery journey. When you have telecalling in place, you can immediately call the customer, understand the issue, and then decide the next steps accordingly. Traditional BPOs do not have trained agents for effective operations and communications.
Order confirmation and drop off/pick up communications also become easier due to telecalling because it’s immediate and has instant ROI.
Brands and categories are super competitive in the e-commerce business. Actionable customer feedback can help distinguish your brand, understand improvements, and support sales strategies.
Getting feedback and insights is a high ROI activity. You are addressing problems at the grassroots level, which improves your marketing, product, and customer journey.
Having a telecalling team deployed specifically to collect customer feedback and data will help you;
69% of shoppers accept calls from salespeople, either selling a new product or following up on previous conversations. Telecalling is the missing piece for your sales team. It’s personalized, helps build long-term relationships, saves time, and has instant ROI.
Driving repeat purchases through telecalling is easy and efficient because of its personalized nature. You can run a cadence to call your past customers or customers who have left good reviews/feedback. Calling increases your purchase rates.
73% of customers appreciate e-commerce businesses that provide good customer service. Telecalling is the best for this because it gives personalized assistance. This helps build customer trust and loyalty which drives repeat purchases.
We help upsell & cross-sell existing products, convince users to repeat purchases, and convert leads who drop off after adding products to their cart.
Reduce disruptions in your delivery lifecycle by reaching out to leads and confirming whether you should reattempt delivery or not, confirm orders, capture correct addresses, etc.
Gather structured feedback and analyze areas of improvement to help product and business teams.
Want to know how logistics can transform into a high ROI center for your business? Learn with Shipyaari!
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E-commerce businesses face challenges like high abandoned cart rates, NDR/RTO (non-delivery returns/return to origin), lack of customer reviews, low repeat orders, and difficulties in gathering actionable insights.
Telecalling allows e-commerce businesses to contact customers immediately to address issues related to NDR/RTO during the delivery journey. It effectively helps with order confirmation and drop-off/pick-up communications and provides instant ROI.
Telecalling enables personalized communication with customers. It allows businesses to engage with past customers, follow up on positive reviews/feedback, and run targeted cadences to drive repeat purchases.
SquadStack helps businesses gather structured feedback, analyze areas for improvement, and provide valuable insights to product and business teams.
Telecalling can help address concerns related to abandoned carts by directly reaching out to customers through phone calls. Companies that work with SquadStack have seen significant improvements in abandoned cart rates by using telecallers to engage with customers.