Worried about improving RTO rates? One of the most underestimated, yet important aspects in the world of virtual business pertains to reducing RTO (Return To Origin). RTO refers to the buyer’s product sent back/returned to the place of origin. This is one of the most common and frustrating issues for an online seller to deal with. Most online businesses face the problem of customer returns and are not aware of RTO tools, which help improve delivery rates and filter out risky shopping orders at one go.
On an average, buyers who return to a shop online usually outnumber those who purchase something new. Major reasons for customers to not return are namely – because the service disappoints them, the customer changes their mind about the product, or were offered a lower price on another platform. This also leads to the increase in the RTO price.
40% of all the COD (Cash on delivery) orders are returned to the sellers.
As e-commerce is making major strides, sellers across India are enjoying increasing opportunities to have their products seen by customers worldwide. How can RTO be kept at bay as it hinders the free-flowing cycle of the virtual marketplace?
You can consider using several tools for boosting your business with emphasis on RTO reduction and improving conversion rates. Leveraging the power of AI, you can expect to receive solutions that will help you achieve your sales targets without breaking a sweat.
Here’s a look at how some timesaving RTO tools help address the issues related to it.
Jump ahead to:
Top Tools For RTO Reduction
1. Thirdwatch By Razorpay
Thirdwatch is an AI tool that helps you keep your RTO rates in check, increase success rates, and reduce cash on delivery fraud. Thirdwatch helps by giving you a better view of the bigger picture to make smarter decisions that improve your overall profitability.
Some of its features include:
- Shipping Address Verification – It verifies the shipping address of a buyer and filters out incomplete and non-deliverable addresses.
- Risky Order Profiling – The tool helps filter out fraudsters leveraging AI.
- Advanced Dashboard Analytics – The tool provides a 360° overview of RTO and fraud insights in one place.
- Intelligent Automation – It allows you to automate red-flagged orders.
2. GoKwik
GoKwik is a tool created to help e-commerce businesses better care for their customers and increase their GMV. GoKwik believes in letting the merchants have more control over every aspect, including pricing to profit from an online sales platform. As such, GoKwik uses Artificial Intelligence and machine learning to make sure your inventory doesn’t get weighed down because of faulty products by solving the RTO problem.
Some of its features include:
- Quick Checkout Experience – Whether it’s loyalty points, discounts, or attaching important marketing or analytics forms in your checkout process, GoKwik checkout and their mobile-first designs make things simple for everyone involved.
- Personalised Customer Journey – GoKwik checkout does all the tracking and managing for you. They allow you to focus on building your customer base by providing a unique and personalised experience for every shopper.
- UPI Payments – GoKwik increases the ease of offering Cash on Delivery, in line with improving and increasing successful delivery rates on CoD. Reduce RTO losses considerably too.
3. Clickpost
ClickPost is an AI-driven technology aimed at simplifying the post-purchase customer experience. Using multi-carrier integration software, ClickPost enables customers to keep an eye on their packages at all times and arrange special pickups with couriers, helps streamline the process of returns and refunds, and even provides useful tips that save your shipping costs.
Some of its features include:
- EDD Display – Estimate Delivery Date (EDD) Display helps customers make informed decisions regarding their purchases.
- Real-Time Order Tracking – ClickPost has both pull and push API integrations. These two integrate with courier partners to exchange tracking information and cycle it through courier partners. Customers are notified every time a milestone is met to keep customers updated about their order status.
- Insights – ClickPost provides insights on carrier worker performance and outage situations. This data will help you and your delivery partner improve overall delivery efficiency while also allowing you to adapt to new disruption mitigation strategies when necessary.
4. Logisy
Logisy is a big data-powered platform capable of collecting and analysing 150+ parameters for any order. It uses machine learning algorithms to sort through the data about specific orders while ensuring that the identity and location of both vendors and customers remain anonymous.
Some of its features include:
- Tailored Notifications – Logisy provides tailored customer experience to complete their shopping experience and helps increase the recovery rate by 6-10%.
- Order Verification Automation – Automatically confirm orders to eliminate impulse and fake purchases, which happens with many products given their nature. You can improve delivery rates through automatic verification and reduce manual work.
- COD (Cash on delivery) To Paid – Nothing says genuine credibility, like upfront payment. You can leverage the legacy platform’s customization tools to preempt orders and turn them into prepaid orders with a 25-35% increase in paid orders.
Conclusion
Minimising RTO is key to boosting one’s business online. Smart solutions can take your business to the next level. Tap into the power of AI and ML, with these smart tools listed above, to minimise RTO rates.
EasyInsights can sync your RTOs/Cancellations from your CRMs to your ad platforms to optimise your marketing spends. With this, you will spend less, and scale more!
Curious to see how EasyInsights work?
How EasyInsights works with RTO Data
EasyInsights works with RTO data and activates it for optimising Meta and Google Ads algorithms. Here’s how EasyInsights works –
Data Collection and Transformation:
- EasyInsights connect directly to your ad platform allowing it to access and extract the raw data you’ve collected.
- Data Transformation: EasyInsights then cleans, normalizes, and enriches the data to make it usable for activation purposes. This may involve tasks like:
- Formatting data: Ensuring all data points are in a consistent format.
- Handling missing values: Filling in missing data points or removing them according to your preferences.
- Enriching data: Adding additional data points from other sources to create a more comprehensive picture of your customers.
Data Activation:
- Segmentation and Targeting: It allows you to segment your audience based on various criteria like demographics, behavior, and interests using the enriched ad platform data.
- Multi-channel Marketing: You can then use these segments to activate your audience across different marketing channels like email, social media, and advertising platforms.
- Customer Relationship Management (CRM): The data can be used to personalize outreach and interactions with customers within your CRM system.
- Marketing Attribution: EasyInsights can help you understand how different marketing channels contribute to conversions and optimize your marketing spend accordingly.
Key Feature:
- Offers features like customer data platform (CDP) capabilities, marketing automation, and campaign management tools.
- Focuses on reverse ETL (extracting data from your warehouse and sending it to marketing tools) and offers pre-built integrations with various marketing platforms.
EasyInsights is a marketer’s preferred tool for first party data activation.
In this age of cross-channel marketing, EasyInsights offers a comprehensive platform to collect, store, and transform all your first-party data.
EasyInsights enhances marketing campaign efficiency in a cookieless landscape with accurate ad signals. It helps brands step away from surface-level metrics and unleash the potential of first-party data to optimize marketing strategies, ensuring a superior Return on Ad Spend (ROAS). It does all this, while being a highly affordable no-code platform with an exceptional customer support apparatus.
Sign up for a demo today to see EasyInsights in action.
