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Offering a Lifetime Guarantee

by David Sieg
7 replies
What do you guys think of offering a lifetime "satisfaction" guarantee on eBook and/or digital products?

Now before you go pulling out all the tired old chestnuts about 99% people never taking you up on your guarantee, when you have fairly expensive (but good quality) product, when (economic) times get tough, my experience has been they DO ask for refunds, more than usual. Not everyone certainly, or even most, but enough that I see a difference between a 30 day and 90 day guarantee. (And the only reason I can see in many cases is they need the money for bills...I've had people come right out and tell me.)

So the question is, offering lifetime guarantee would certainly HELP sales, no question, but do you think it would also bring the serial refunders and ebook cheats out of the woodwork as well?

Do you think you'd be opening yourself up to more problems down the road?
#guarantee #lifetime #offering
  • Profile picture of the author Kecia
    Offering any refund would bring out the serial refunders, given that they are interested in your product. I think it helps add more value to your product, however, probably more than if you just offered a 60 or 90 day guarantee. I don't think it'd be that problematic in the future, however, as most that will refund are going to do so in the first few weeks.
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  • Profile picture of the author Alexa Smith
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    In general, in this industry, the longer the guarantee period you offer, the fewer the refunds/claims. Sorry if that statement comes across as a "tired old chestnut" - that doesn't prevent it from being true.

    It can only help conversions, surely, not reduce them.

    I don't think it'll significantly affect the proportion of "serial refunders"/"cheats" you get: those are fast refunders, and the only way to prevent those is not offering refunds at all.
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  • Profile picture of the author Jamie Charles
    Completely agree with Alexa, those who are going to refund / charge back / anything are going to do it.


    The length of refund 30/60/365 days after purchase is just a selling point to entice and put your prospect at ease.
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    • Profile picture of the author JohnMcCabe
      My own observations back up what Alexa wrote, so I won't bother retyping that part.

      With a lifetime guarantee, you may indeed get the occasional hard-luck case. Much like what my wife sees near the end of every month cashiering at Walmart - people refunding canned goods and such to help pay the light bill.

      But the cheats want their money back fast so they can use it again. They are not going to sit on it for a few months before asking for their refund.
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  • Profile picture of the author David Sieg
    Good comments, all. As far as refund cheats go, I pretty much have that under control down to zero. I use anti-theft software and my refund rate has gone to nearly zero. Less than 1%. The cheats know what it is, and run the other direction. I simply disable their purchase. The only exception is people, as I said, who buy the product then think better of it at the end of the month.

    What I don't want to see happen is people buy the product and then think better of it 6 MONTHS TO 3 YEARS LATER, when they have a financial problem. In other words, I have the problem under control now, I don't to CREATE A PROBLEM offering a better guarantee. You have a number of good points. Refund Cheats usually never give it a try, and want their money back immediately...true.

    The truth is, I have an excellent product and I have no problem standing behind it.
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  • Profile picture of the author Brian E Adams
    David,

    Here's a technique to solve you problem. With each product your sell, also ship a DVD to the customer. Just create a DVD that relates to your product. This will also create perceived value. You can get these for $1 from Kunaki. So when the customer wants a refund, they first need to send the DVD back. It will really cut down on the frivolous returns.
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    • Profile picture of the author David Sieg
      Originally Posted by beadams View Post

      David,

      Here's a technique to solve you problem. With each product your sell, also ship a DVD to the customer. Just create a DVD that relates to your product. This will also create perceived value. You can get these for $1 from Kunaki. So when the customer wants a refund, they first need to send the DVD back. It will really cut down on the frivolous returns.
      That is an ABSOLUTELY great idea. That idea goes into the swipe file. I offer a DVD already.

      Here is what I have been doing: I offer a paperback copy (for their library) WITH A Ebook for instant gratification.

      I could do the same thing with the DVD and the Ebook. (Raise the price of course)

      I offer all three, (paperback, DVD, and eBook) But use the eBook to satisfy the instant gratification aspect and ship a tangible product with each order.

      That, my friend, is an excellent idea!! Thank you.
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