Omni-channel has been a buzz word around the retail world. Omni-channel strategies, omni-channel retail, omni-channel marketing. We’ve seen it all. But did you know you can have omni-channel dispute management?
What is Omni-Channel?
Retail omni-channel is an integrated customer experience. This experience should be immersive and familiar across all channels. At first, omni-channel for retailers may seem simple. You just need to have an integrated presence online and in-store. But it can get overwhelming when you think of all the channels for customer engagement. Just think of all the online channels you use right now. It may include mobile, desktop, apps, social media and third-party distributors. Your omni-channel strategy will need to connect them all. You also need to connect online presences with all your in-store channels. For example, a customer may order online but later pick up the merchandise in-store. You may have an unhappy customer if there is friction between channels.
There is only one way for your brand to be omni-channel. That is letting customers have the same feel from every touch point. Your online presence should be the same as in-store. The app should compliment your social media channels. And all sources should connect to offer the best customer experience.
Manage Disputes In-House?
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Does Omni-Channel Work?
It pays off to have an omni-channel strategy. A study conducted by the Harvard Business Review found that six months after an omni-channel shopping experience customers had 23% more repeat shopping trips to the retailer’s stores. Customers were more likely to refer the brand than those who used a single channel. In addition, HBR found that 73% of shoppers* used multiple channels when shopping.
Overall, omni-channel is about connecting and communicating with customers on all touch points. Using this same method in your dispute management can save you time, money, and stress from a copy-and-paste nightmare.
All Channels Connected and Automated
It took hours to create a chargeback response during pre-automation. The first step was to understand the reason code. Then you had to know the what evidence to attach to your response. This evidence can change, depending on the reason code. And it can change again with transaction modifiers. Another challenge was multiple logins. Logging into merchant accounts, payment processors, gateways, and sales platforms to compile the data needed for your response took a lot of time. You finally have your response ready after you dug through card network documents and logged in on all the platforms.
Omni-Channel Dispute Management
The Chargeback App provides a seamless, connected, and automated dispute management solution. It connects all the data points involved in a dispute in one place. The App allows you to connect all your data sources. And it will pull the exact data needed for each response. Instead of manually logging into each source, the Chargeback App populates a response with all the data. E.g., that’s the framework of automated dispute management.
You and your internal fraud team don’t need to dig through the card networks’ rules. The App will automatically generate a tailored response in seconds. It will extract the data based on the reason code, customer data, transaction type, and your industry.
Chargeback Alerts will send you notifications to prevent disputes and fraud losses. With alerts you can refund a customer, prevent the fulfilment of goods, reroute shipments, and deactivate gift cards.
Lastly, the Chargeback App connects you with the dispute before it becomes a chargeback. With Real-time Resolution, you will be able to stop friendly fraud from happening by connecting you with the customer. The App lets you send all the information about the transaction when they try to start the dispute process. This can stop 35% of fraud losses by just reminding customers what they bought.
An omni-channel strategy brings together all the touch points. It lets you (and customers) experience the same feel and connection. Omni-channel retail makes the customer experience better. Omni-channel dispute management will make fraud teams better.
References: Harvard Business Review
*46,000 shoppers were surveyed in the HBR study.