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Hidden value for Posts, Esche

Five ways Posts can unlock hidden value

Data is the path to a competitive advantage.

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Even though 2022 is well underway, it’s not too late for Posts to refine their postal strategies to provide a sustainable competitive advantage this year and going forward.

You’re well aware of the continuing theme in embracing the ongoing shift toward online shopping and convenient delivery. This change comes partially in the wake of the pandemic and all its ramifications. But it’s likely that this evolution would have eventually occurred, no matter how quickly the events of the past few years hastened the transition.

One pivotal approach that retailers and e-commerce vendors are using to provide the perfect blend of fulfillment and convenience for their customers is by using data more effectively. AI, big data, and machine learning offer businesses new ways of looking at data that make logistics simpler, more efficient, and effective.

Here are five ways Posts can unlock hidden value in their business with data, transforming postal delivery in the process.

1. The Customer Experience

For several years, industry professionals have focused on the power of harnessing data in order to reach customers where they are in their journey, whether in life or business, during a specific transaction, or while searching for new products and services. By developing powerful data personalization strategies, you can reach your customers in exciting new ways and provide superior customer service.

Imagine having crucial insights about a customer the moment they walk into a Post office. With the information gathered by dynamic data analysis at your fingertips, Posts can enhance each customer experience by both removing friction and adding value to the transaction. For instance, if a customer visits the post office to send a package, who in the past has also purchased a banking product, the clerk might be auto-prompted to offer them a related banking product relevant to their buying history or business industry. Even if they don’t need the recommended product or service, they are likely to appreciate the personalization of the transaction.

 

2. Delivery

Data has become an invaluable tool in evolving delivery service strategies for Posts. Effective use of data can help smooth the process at all points. Take situations where there is an incomplete address, only reflecting a business’s name. Without customer insights or additional information, your Post’s ability to deliver the package will certainly not be as efficient as it could be.

Big data, AI, and machine learning can offer new insights and assistance in regards to collected data, calculating everything from better and faster routes, to auto-correcting incomplete customer addresses. Additional ways data can help Posts in delivery and logistics include:

  • Reducing the average size of deliveries in support of continuous delivery
  • Optimizing the way trucks and vans are loaded
  • Minimizing empty space in vehicles
  • Providing real-time alerts and exception management

3. Returns

Finding the right balance between creating a seamless return experience for customers and minimizing the footprint of every customer return has become a powerful tug-of-war for e-commerce businesses. During the pandemic, the returnless refund policy went into full effect with many online merchants considering the return cost too high for the value of the product. This practice in itself is not likely to remain sustainable and might ultimately harm the business and its customers.

In any case, retailers and e-commerce vendors all have varying needs and processes and even desire different outcomes, meaning it’s nearly impossible to provide a one-size-fits-all solution to customers. That’s where Posts can step in and provide just the right return solution for retailers and e-commerce vendors. Data is leveraged every step of the way to ensure the customer experience is seamless, and the solution puts the power back into the hands of customers, providing them with an easy way to get the package back to the e-commerce provider as quickly and efficiently as possible.

4. Automation

According to a Meticulous Research report , the parcel and postal automation systems market grew at a compound annual growth rate (CAGR) of 16.7% in 2021 and will reach $9.61 billion by 2028.

The ever-increasing growth of e-commerce and its related costs are the driving factors for growth in parcel and postal delivery automation. Combined with powerful real-time analytics, Posts can leverage automation and use it for:

  • Performing parcel sortation processes
  • Providing high address reading reads
  • Facilitating high processing speed
  • Avoiding manual errors

5. Cross-Border E-commerce Growth

Cross-border e-commerce went through some complex changes and challenges over the past few years. As 2022 proceeds, Posts are working on ways to address some of those complexities in order to effectively and efficiently comply with regulations like the STOP Act and other border hurdles without delivery delays. In addition to a cross-border delivery solution, by adding capabilities such as optical character recognition (OCR) and automation, Posts can make it better and easier for customers to get items on time, even if the parcels have to pass through customs and many other hurdles.

The team at Escher believes data has the power to propel Posts to ever-greater success in delivery and customer satisfaction. How is your Post using data? Be sure to follow us on Twitter and LinkedIn, join the conversation, and let us know!

 

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