Managing small business shipping, returns, and fulfillment successfully can set the trajectory for business growth. Today, consumers demand products at lightning speed. They also have certain expectations of how their item should arrive.
They demand greater transparency in the supply chain, which brings the importance of fulfillment processes to the fore. Shipping is vital for any eCommerce business. But with many options, it can be challenging to ascertain the correct route.
An efficient way to ease your shipping operations is to utilize a reliable shipping solution with features like 4 step verification and automated reattempt of delivery when there’s no customer response. Here are some important points about shipping you should be aware of.
Set Your Shipping Methods and Rates
To determine your shipping pricing strategy, you should be clear about your business’s underlying financials. You can offer free shipping to minimize the chances of shopping cart abandonment. But shipping isn’t free.
So, to make this method work, you can increase the product cost for covering shipping expenses or pay the entire shipping price from your margins. Another effective technique is to charge real-time carrier rates. It enables your buyers to select and pay for the precise service they wish.
Mix Various Shipping Strategies
In 2020, India had 177 million online shoppers. They all demand great shipping for easy delivery options and getting their product fast and quick.
An eCommerce shipping solution in India with an AI logistics recommendation engine uses various smart parameters for assigning the cheapest and fastest couriers, thereby reducing your shipping costs and raising profitability.
Mixing and matching various shipping strategies can also allow you to balance your revenue requirements and give you promotional opportunities. Some common combinations include standard and expedited shipping to upsell by showcasing the estimated time in transit for people who require fast delivery. You can also combine free standard and expedited shipping that entices customers to pay for rapid delivery.
Implement a multi-channel strategy
Your chances of selling more increase when you adopt a multi-channel strategy. It has been observed that the more significant number of channels you add, the more sales you make.
Multi-channel retailing ensures that you reach your customers no matter in which stage of their buyer’s journey they are. With more people shopping from their mobiles, there is simply no limit on where they can discover and buy products. Thus, a multi-channel strategy will help you target customers at varying phases of their buyer’s journey.
People may see your product anywhere. For example, they can see it through an influencer endorsing it on Instagram or Pinterest. Today, E-commerce giants are all competing for attaining the highest E-commerce market share.
Consequently, a single-channel seller may face undesirable results if one business overpowers another. However, multi-channel sellers have more flexibility and freedom. Multi-channel retailing also enables you to leverage technology like Artificial Intelligence, allowing your items to be found.
Find Out About Different Carriers
It’s essential to research the costs and factors related to various carriers. The process is quite impactful for your upfront cost. Undertake deep online research about the multiple carriers.
You can even wait till a seasonal sale to finish your purchase. Through your research, understand the various shipping options available. Get in touch with carriers and establish relationships. You can also set up a hybrid shipping strategy utilizing in-house or drop shipping services.
Small businesses should develop easy shipping workflows to bring about time efficiency. You can do so by integrating a shipping solution that can deliver to over 26,000 serviceable pin codes in India and provide your customers with custom shipping labels. Such a solution can also integrate channels like Amazon, eBay, and Shopify. It ensures that you gain the most profits.