In this episode, host Greg Shuey introduces a conversation centered around a unique yet critical aspect of business operations for e-commerce brands: capturing unclaimed shipping refunds from FedEx and UPS. He highlights the importance of this topic by noting that many businesses might be missing out on substantial savings each month. This episode features guest Ross Brenner from Profit Trust, who elucidates the concept of unclaimed shipping refunds. Brenner explains that these refunds, which can amount to millions of dollars annually for thousands of brands, are typically not voluntarily offered by carriers. They include charges for dimensional adjustments, late deliveries, fuel surcharges, etc. The process to claim these refunds is cumbersome, requiring businesses to actively pursue their due refunds.

Ross Brenner shares his journey into the realm of shipping refunds, which began in the infomercial space. The challenges faced with carriers led to the creation of technology designed to automate the refund process, significantly saving time and money for businesses. This platform automatically identifies eligible refunds and processes claims on behalf of clients, allowing businesses to reinvest the savings into growth-oriented activities like marketing. The discussion underscores the transformative impact of such technology in managing shipping costs and optimizing operational efficiency.

Greg Shuey delves into why the topic of shipping refunds is not widely discussed despite its significance. Brenner suggests that the lack of awareness stems from a general unfamiliarity with the available technology and the benefits it brings. Education and exposure to such innovations can dramatically change how businesses manage shipping expenses. Furthermore, Brenner addresses the prerequisites for businesses to benefit from their services, emphasizing the need for a direct account with FedEx, UPS, or DHL. This ensures that refunds directly benefit the client's account, contrasting with indirect shipping arrangements like those through Shopify, where benefits might not accrue to the actual shipper.

The conversation also explores broader shipping industry trends, such as the increasing expectation of free shipping by consumers and the strategic implications for businesses. Brenner discusses the importance of understanding the true costs of shipping, the impact on profit margins, and the necessity for businesses to make informed decisions about shipping strategies. This includes leveraging data to optimize shipping rates and service levels, thereby enhancing customer satisfaction and retention. The episode concludes with insights into how businesses are reallocating the savings from shipping refunds into areas like marketing and operations, underscoring the indirect benefits of efficient shipping cost management on overall business growth.

Episode Links

• Greg Shuey LinkedIn: https://www.linkedin.com/in/greg-shuey/
• Ross Brenner LinkedIn: https://www.linkedin.com/in/ross-brenner-a0899249/
• Profit Trust: https://profittrust.com/

https://www.stryde.com/how-to-generate-cash-to-fund-your-marketing-by-taking-advantage-of-shipping-refunds/