Setting customer expectations in your business is essential to gain the trust of your customers, avoid conflicts, and maintain a high level of customer service. One way to set customer expectations is to clearly state policies that are customer-facing. Many of these are accounting policies that we can help you with. The following policies are ones that every business should clearly publish.
Refund Policy
When customers purchase your products or services and don’t get what they expect, what is their recourse? Your refund policy should clearly state which products and services are refundable. Key details to include are:
- Conditions for Refunds: Specify which products and services are eligible for refunds and under what circumstances.
- Return Process: Explain whether customers need to physically return the product in-store or via shipping, and any specific requirements for returns.
- Service Refunds: Outline how refunds for services are handled, including any conditions that must be met.
- Refund Method: State whether refunds are issued in cash, credited back to the credit card, or given as store credit.
- Refund Deadline: Clearly specify any deadlines for requesting refunds.
Publishing your refund policy on your website ensures that it is easily accessible to all customers.
Customer Complaints
If your customer has a complaint, how should they submit it? Establishing a clear procedure for handling customer complaints is crucial. Consider including the following:
- Submission Methods: Provide multiple ways for customers to submit complaints, such as a hotline to call, a suggestion box, or an online form.
- Licensed Businesses: If your business and employees are licensed, indicate if there is a government agency to which customers can write.
- Notice Placement: Post a notice on your website and in your physical location describing where and how to submit complaints.
Shipping Policy
Not all businesses need a shipping policy, but if you ship physical goods to customers, this policy is essential. Key elements to cover include:
- Shipping Costs: Clearly state the cost of shipping for different types of orders.
- Delivery Time: Provide an estimated delivery time for customers.
- Issues and Resolutions: Explain what customers should do if the item is never received, including procedures for reporting missing shipments.
- Shipment Signatures: Indicate if customers need to sign for shipments upon delivery.
- Return Shipping: Clarify who pays for return shipping if a product needs to be returned.
- Damaged Items: Describe how customers can file a claim if an item is received damaged.
Payment Methods
While not strictly a policy, it is crucial to clearly communicate the accepted payment methods to your customers. Include information on:
- Accepted Payments: List all forms of payment your business accepts, such as cash, credit cards, and checks.
- Check Payments: Specify any identification requirements for customers who wish to pay by check.
- New Payment Technologies: Mention if you accept newer payment methods like Apple Pay or cryptocurrencies.
- Gift Cards: Explain how gift cards can be used for purchases.
Past-Due Accounts
If a customer doesn’t pay their bills on time, they should know what to expect. Important aspects to address include:
- Interest Charges: State whether interest will be charged on past-due accounts.
- Collections: Indicate if and when an account will be sent to collections.
- Consequences: Describe other potential consequences, such as cancellation of future purchases or the requirement for C.O.D. (cash on delivery) payment.
You might not think of your accountant when it comes to writing these policies, but you should; we can help. A good accountant can help you craft these customer service policies so that your communications and expectations with customers are better than ever. This proactive approach not only helps in maintaining smooth operations but also fosters a strong, trust-based relationship with your customers.