Delivery Delays Cost Customers
Delivery delays aren’t just frustrating for you and your customers. A late or failed delivery could cost your business dearly, because a dissatisfied customer is unlikely to be a returning one. And that’s a real problem, as we’ll explain.
It’s cheaper to keep an existing customer than to acquire a new one
Take a look online and you’ll see that Customer Acquisition Costs, or CACs involve a whole lot more expenditure than simply retaining your current customer base. You can easily calculate your CAC by dividing the amount spent on marketing over a specific period between the number of new customers that you acquired during that same time frame. And it’s likely to be high!
It costs around 7x more to gain a new customer than to retain an existing one, so why risk losing such a valuable investment? When you’ve spent good money on persuading a customer to give your business a try, you don’t want to then lose that customer because of an unsatisfactory delivery experience, or a delayed repair job. And it’s even more galling when the reason for the delay is down to your delivery service.
The high cost of delivery errors
We humans tend to be quite forgiving, but not, it seems, where late deliveries are concerned! In a recent survey of 600 shoppers making online purchases, almost 30% said they’d stop using a retailer if they were subjected to just one incorrect delivery. Meanwhile 62% of those surveyed would be unlikely to place a repeat order if a retailer failed to deliver within two days of the promised delivery date.
Losing a loyal customer is extremely costly for your business. After all, a loyal customer could be using your services for many years to come, generating repeat business for you. Studies rank existing customers as being up to 10x more valuable than first-time visitors, so you’ll want to keep them happy. And let’s not forget that dissatisfied customers are quick to post their experiences on social media, so delivery delays could cost you even more dearly.
Don’t let delivery delays spoil your customer approval ratings
If you’ve ever spent time fretting about a delivery, imagine the frustration of anyone forced to wait for their boiler to be repaired. But if you pick the right delivery service, delays and lost packages will be a thing of the past.
Here at GenRev we’re extremely proud of our In Boot and In Night distribution services, which get your time-critical parts delivered before the start of each working day. We believe in smart delivery choices, helping you to avoid the challenges affecting the HGV sector.
If you want to avoid delivery delays for your spare parts or packages, why not consider GenRev’s range of smart delivery solutions? Our carefully planned approach offers your business and customers enjoy a seamless service.
If your business is looking for a better delivery partner, contact us to find out more about our In Boot and In Night services.