Is ‘Try Before You Buy’ Right For Your Business?
It is no secret – companies struggle to adapt to the changing landscape in the retail industry. Large eCommerce websites, like Amazon, keep changing the retailing landscape, while traditional brick-and-mortar retailers struggle to keep up with this online shopping trend. However, is not rosy with online shopping – mainly, that customers cannot try a product or confirm the fit until they’ve paid for and received it in the mail. Pesky return fees, the aggravation of going to the post office, and sometimes-incorrect product shipments create aggravation for both the brand and their customers.
But an innovative service may be the saving grace for the eCommerce industry – ‘Try Before You Buy.’ This subscription-based service helps many brands gain much-needed traction by letting them engage with new and returning customers. ‘Try Before You Buy’ targets segments of all kinds, including busy moms and working millennials who don’t have time to stop and carefully weigh the pros and cons of each item before adding it to their cart. The challenge however for any brand is ‘Try Before You Buy’ right for your business? Read on to find out how ‘Try Before You Buy’ works, as well as the benefits and risks of this new service.
How ‘Try Before You Buy’ Works
‘Try Before You Buy’ sounds exactly like how it works. Customers receive products and take them out for a test run before completing the purchase. The actual amount of product varies across brands currently using this service, but typically customers get to choose anywhere from 3-8 items to ‘try’. Customers usually receive their items within a week of placing the order. Once they receive their items, they can then log onto the website and pay for the items they wish to keep. If certain items either don’t fit or feel right, the customer ships the items back to the brand.
Some brands execute ‘Try Before You Buy’ as a subscription service. Instead of the customer specifically choosing which items, every month the brand sends subscribers a surprise assortment of items that they can then try on, return, or purchase. For a personalized touch, customers can complete an online survey that can help the company learn kinds of products they would like to receive, and the brand chooses the products after analyzing the results.
The Benefits Of ‘Try Before You Buy’
One word – engagement! ‘Try Before You Buy’ gives your business the chance to engage with your customers by enhancing and personalizing their online shopping experience. It can give your customers the feeling of being a VIP shopper at your store. This is especially true if you use ‘Try Before You Buy’ as a subscription service. Customers can have the benefit of paying only a monthly subscription fee that enables them to try on a variety of products for an incredible value. Another benefit for customers is that many brands give a discount if the customer chooses to buy all of the products sent, which can be a consideration for customers when they’re deciding what to keep. On your business’s end, your customer convenience and satisfaction will lead to higher conversion rates. If customers like what they receive, they mostly like will order again and hopefully tell their friends about it.
Possible Risks Of ‘Try Before You Buy’
The biggest risk companies face when offering ‘Try Before You Buy’ is inventory management. Sending a product that isn’t paid for can be a risk – customers can potentially send back damaged product or abuse the system and return the product outside the agreed upon window. To prevent this, your business has to have a highly efficient organizational alignment, from sales, finance, and logistics to customer service and IT. It’s best to have a friendly and clear-cut return policy to avoid any customer confusion. Remember the customer is always right, except when they are wrong. This can be a challenge for many businesses when they wish to launch a service of this scale.
Making the Most Out Of ‘Try Before You Buy’
As mentioned before, it’s important that your business is capable of handling the inventory and finance risks associated with ‘Try Before You Buy.’ However, if you successfully launch this service, it may potentially reap huge rewards for both your company and your customers. Your customers will be highly satisfied by the speed and the enticing option of paying for what they ordered later, and on your end, you will be able to see what customers like and don’t like from your brand and adjust accordingly. Most of all, your customers will become more loyal to your company and help boost conversion rates if they like what they try. It’s no wonder why ‘Try Before You Buy’ keeps sweeping the retail industry by storm!
If you want to discuss how ‘Try Before You Buy’ services can help grow your business, Premiere Creative has the tools and knowledge to help you exceed your goal. Make sure to subscribe to our blog for the latest digital trends and industry updates. To connect with an eCommerce specialist, dial (973) 346-8100 today.