Money back guarantee

8 years ago

Originally Posted by favconnection

I really wonder if the "Money back guarantee" increase the purchases...

Yes, a money back guarantee typically increases conversions because it makes people feel more comfortable with spending their money in the event the product isn't good.

As for the non-genuine refund issue, there will always be buyers of digital products who do that.

Mind you, it doesn't stop successful marketers from selling their products and still making good money, so it shouldn't deter you either.

If you really want to minimize "hit and run" refunds, you can always launch your product as a membership site.

If not, just make sure your product is high quality (as it should be anyway) and that will reduce the number of refunds.

Regards,
Daniel

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1 reply

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DustinInTheWind

Banned 8 years ago

Originally Posted by danieldesai

Yes, a money back guarantee typically increases conversions because it makes people feel more comfortable with spending their money in the event the product isn't good.l

can second on that. I buy lots of stuff online and usually the deciding factor when i purchase anything online if that product has the ff:
1. Good reviews
2. Trusted Merchant
3. REFUND (if defective/wrong product, etc.)

So yes. Not only does it also increases conversions but it builds credibility for you as well.

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ChrisBa

8 years ago

Originally Posted by favconnection

Hi,

I will send my first funnel in a few hours, and I really wonder if the "Money back guarantee" increase the purchases...

It's so easy to download everything and say "Sorry, this doesn't fit my needs, I would like a refund" then the customer will continue to use everything...

So, is it really useful ?

Thanks.

I find typically this helps increase conversions..
In the end if someone wants a refund, they will do whatever to get it anyways..

Thanks

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TomFinley

8 years ago

money back guarantee increases the purchase as it build trust

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helisell

8 years ago

Originally Posted by favconnection

Hi,

I will send my first funnel in a few hours, and I really wonder if the "Money back guarantee" increase the purchases...

It's so easy to download everything and say "Sorry, this doesn't fit my needs, I would like a refund" then the customer will continue to use everything...

So, is it really useful ?

Thanks.

Send to a sample of the list WITH a money back guarantee
and send to the same number WITHOUT a money back guarantee
and then you'll know if it affects sales or not.

If anyone tells you any different they are just quoting 'generally accepted belief'
and 99.99999% will never have tested.

Thanks

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BradVert2013

8 years ago

I always feel more comfortable buying something with a money back guarantee on it. And for what it's worth, I've purchased ebooks and other digital products that I was disappointed with but I didn't bother asking for a refund. Just wasn't worth the time and effort. You might get some refund requests, but those people will try to get a refund whether you guarantee one or not.

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kevinfar

8 years ago

Yes it does. It puts all of the risk on you and none on your customer.
Also, like someone said if someone wants to get a refund there are ways to do it even if you don't offer it, so might as well offer it as people tend to rest assured about what they're buying.

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farichsolos 8 years ago

Putting money back guarantee should not be risky at all if you sell digital products. At least you do not deal with shipping returns that might put you an additional cost for physical products.

I have some experience encounter with customers that request for refund for my digital products. Usually I would reply their e-mail by querying them on what problems that they are having first. It could be technical problems such as "unable to download", "file/zip corrupt", etc. Who knows? Unless they give concrete answer to what problem they are having with the product, then surely I will honor the money back.

Sometimes I offer them bonus if they think my product is not up to their satisfaction. This can reduce refund rates and gain favorable feedback from buyers.The key for your successful service is always over deliver, and customers always right!
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Regional Warrior

8 years ago

Back when we released our Software I had a discussion with Paypal about changing the 30 day money back guarantee, what I wanted was to have the guarantee in the way of at the end of the 30 days they get there money back so on the first day the purchase was made it would be 30 days from then and they saw nothing wrong because I was honoring the guarantee.

So think about how to reverse engineer how you do things

Jason

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reachintan

8 years ago

Hi,

Money back guarantee does enhance the sales. However, conditions be kept regarding returns and refunds so that customers do not misuse the option. To know the importance of MBG, please read this article

A Question of Money-back Guarantees and Marketing Your Online Products

Regards,
Chintan

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Chintan Mehta

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Money back guarantee

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