Delivering excellent customer service is critical to maximizing revenue. Customers are persistent in their demand for personalized services and will walk away if their needs are unmet. According to a McKinsey survey, 71% of consumers expect personalization from companies, and 76% get frustrated when they don’t.
This increased demand for personalized experiences has made forward-thinking companies realize and appreciate the power of customized order tracking as a CX game-changer necessary for optimal customer satisfaction and revenue growth. Companies can build stronger customer relationships, enhance operational efficiency, and earn repeat purchases by providing real-time visibility and tailored updates on order status.
While this is common knowledge for some manufacturers and other asset-intensive businesses, others are yet to realize why and how customized customer order tracking boosts overall revenue.
Why Customized Customer Order Tracking Boosts Manufacturers’ Revenue
Enhanced Customer Experience
Customers expect access to real-time information about their orders. An efficient customer order tracking system reduces customer anxiety and dramatically improves customer experience. This confidence level increases their loyalty and repeat purchases, boosting overall company revenue.
According to an Optimoroute survey, 87.9% of customers said real-time order tracking made their buying experience more enjoyable. And 59.3% affirmed that real-time customer order tracking positively impacted their loyalty and whether they’d shop with a company again.
Reduced Customer Support Inquiries
A customized real-time order tracking system enables customers to access all order information without contacting the customer support team. With this access, they can check their order status, track the location, detect delivery delays, and view reasons for delays.
Access to real-time order information reduces customers’ need to contact support, reducing the volume of customer support tickets. This allows customer support teams to channel their resources into other tasks, increasing overall operational efficiency, reducing customer support costs, and boosting profit margin.
Proactive Issue Resolution
Delivery delays and product stockouts are inevitable. However, when customers have real-time access to their order information and can get notifications on all major milestones in the order fulfillment process, it becomes easier for companies to manage these situations.
An efficient, customized order tracking system helps companies inform customers about any unexpected delays, stockouts, or other issues that may arise in the order delivery process. This proactive approach allows companies to manage order issues, provide immediate solutions, and minimize any negative impact the resultant negative experience might cause.
This proactive communication and resolution level gains customers’ trust and loyalty, increases customer lifetime value, and boosts revenue.
Data Insights and Analytics
Data-driven companies use customer order tracking systems to generate data and gain insights into customer behavior, preferences, and purchase patterns. As a result, companies can better understand customers’ views and reactions to product quality, shipping process, and customer service by analyzing the data. This helps manufacturers make informed decisions, provide better products and services, improve customer experience, and drive more sales and revenue.
Furthermore, companies can use the information gained from customer data to refine their marketing strategies, create personalized offers, and optimize their promotional efforts, to boost conversion rates.
Upselling and Cross-selling Opportunities
Smart companies leverage interactions with customers to gain insights into upsell or cross-sell opportunities. For example, while the customer has real-time visibility into their orders, the company can integrate personalized product recommendations or special offers that suit the customer’s purchase behavior within the tracking interface.
This ability to effectively cross-sell related products or upsell complementary products creates an avenue for additional revenue generation.
Companies offering self-service options like personalized customer order tracking have a competitive advantage. Customers continuously seek Amazon-level customer service from companies and are willing to commit their loyalty to any company that prioritizes customer satisfaction.
Customers who have a positive CX with a company’s personalized customer order tracking system are likely to become return buyers and recommend the company. According to a McKinsey survey, 78% of clients are more likely to make repeat purchases from companies that offer personalized services, and 78% are more likely to refer friends and family to these companies.
Companies that gain a competitive advantage by offering customized order-tracking services are more likely to experience increased market share and revenue boosts.
Integrating a customized order tracking system with other specialized systems for CRM, inventory management, supply chain management, etc., improves manufacturers’ operational efficiency. This integration helps companies manage deliveries and returns better and streamline inventory management and other operations. This frees up the costs associated with inventory management and manual order tracking, allowing the company to invest in other profitable operations.
Reputation and Trust
Customer-centric companies use transparent and efficient order-tracking systems to build trust. Companies that give customers access to easily track their orders and gain real-time visibility into the shipping process from their mobile apps show accountability and trustworthiness. This means a lot in a modern-day marketing and customer service ecosystem where trust is a rare currency. The positive experiences customers get from transparent order tracking systems contribute significantly to a company’s reputation and help attract new customers, win the loyalty of existing customers, and generate more revenue.
A Customized Customer Order Tracking System Is a Must
An efficient customer order tracking system is an excellent revenue generator for purpose-driven companies focused on delivering an exceptional customer experience and boosting overall revenue. With customer-centric companies like Amazon raising the bar, companies across different industries are expected to sit up or risk failing to meet customer expectations. We’re gradually settling into the era where a customized customer order tracking system is a significant success driver for manufacturers who wish to boost revenue. It’ll be a situation of either adopting the innovation or sitting back and watching competitors excel.