How can someone Afford to do this?

travlinguy

15 years ago

Why not show us the product and we'll be better able to answer the question. Thanks and Good Luck!

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Edward Green

15 years ago

Firstly Eric, How good is the product? If the list like it I would suggest it's topical. Most people wont ever ask for the triple money guarantee. However, if it isn't suitable they will want their money back.

I bet only 1 or 2 in 100 would ask for a triple refund if that.

Ed

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Eric Land

15 years ago

Originally Posted by travlinguy

Why not show us the product and we'll be better able to answer the question. Thanks and Good Luck!

The reason is because if i add the product for sure this thread will be looked at as promotional.

If you wan't i will send you a pm with a link

Originally Posted by Edward Green

Firstly Eric, How good it the product? If the list like it I would suggest it's topical. Most people wont ever ask for the triple money guarantee but if it isn't suitable they will want their money back.

I bet only 1 or 2 in 100 would ask for a triple refund.

Ed

Thats true

But also i forgot to say affiliates get 100% commission so they are making almost no money except for sales they make on there own.

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ArthurRose

Banned 15 years ago

[DELETED]

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Martin Luxton

15 years ago

Eric,

Have you checked the small print? Usually something like

"if you can show me that you have consistently applied the methods in this book over a period of 30 days . . ."

Just trying to prove that will cost people hours of effort.

Martin

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Eric Land

15 years ago

Originally Posted by ArthurRose

Please, show the product. I want to see who is so confident about their product that offer 3x money back guarantee.

Yes, this is why, for example, distributing free ebooks with your name on them can be a good way to get your site visits and popularity. This can be effectively done through p2p and torrent networks.

I sent you a Private Message

Originally Posted by Martin Luxton

Eric,

Have you checked the small print? Usually something like

"if you can show me that you have consistently applied the methods in this book over a period of 30 days . . ."

Just trying to prove that will cost people hours of effort.

Martin

Well it says you have to prove you tried his method which is understand able of course you can't do nothing and expects a refund.

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mmacken

15 years ago

Its a known fact that most people will order an information product knowing full well they can get a refund, work on the method for a week or 2, then move onto the next big thing and forget all about the refund. Whether its 1x or 3x I think the bottom line is still the same. The seller uses the refund policy as a selling point, knowning full well the buyer won't claim it back, even if it doesnt work for them.

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ElaineBaker

15 years ago

I think the fact that the product is only $7 and obviously won't break the bank I would imagine a very small amount is actually being refunded.

I know I have bought numerous books that promise this that and the other, and offer a refund, but I always forget about it and I'm sure there are many people out there like me.

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JohnMcCabe

15 years ago

One thing to check into, and which was not mentioned here, is that many of these 100% commission deals make the affiliate responsible for providing the refund should it be requested.

Eric, you say it's been converting like crazy. How many refunds have you seen? If you're making commissions and not having to give them back, the guarantee seems to be working...

On the flip side, if I were an affiliate like this and I was responsible for honoring a triple-money-back guarantee, I'd be very hesitant about promoting it in the first place...

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Eric Land

15 years ago

Originally Posted by CurtisN

I know which product you're talking about, Eric. I already paid my $7. They can afford to do this for a few reasons, the first of which is that they are very rich people

Second of all, you need to have tried their methods. Their methods are obviously good, or else they wouldn't have created that guarantee. Most people who paid probably won't do anything with their new knowledge, so if they ask for refunds, they won't get it. That leaves a small % of people who DO take action and a % of that small % that will fail, if any at all.

Well at least im not the only one who thought this product looked really good.

Originally Posted by JohnMcCabe

One thing to check into, and which was not mentioned here, is that many of these 100% commission deals make the affiliate responsible for providing the refund should it be requested.

Eric, you say it's been converting like crazy. How many refunds have you seen? If you're making commissions and not having to give them back, the guarantee seems to be working...

On the flip side, if I were an affiliate like this and I was responsible for honoring a triple-money-back guarantee, I'd be very hesitant about promoting it in the first place...

All i am responsible for is the 7 dollars i made and its a webinar so I can't tell you yet if the product was good or not

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CurtisN

15 years ago

I know which product you're talking about, Eric. I already paid my $7. They can afford to do this for a few reasons, the first of which is that they are very rich people

Second of all, you need to have tried their methods. Their methods are obviously good, or else they wouldn't have created that guarantee. Most people who paid probably won't do anything with their new knowledge, so if they ask for refunds, they won't get it. That leaves a small % of people who DO take action and a % of that small % that will fail, if any at all.

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IMChick

15 years ago

I'm sure there's a catch to it, probably buried deep in the TOS on how to get a refund or cancel a continuity program. This is what the big guys do--no info up front in the sales letter because they keep the sizzle up front and the mechanics of the process in the background, including the CS phone and email contacts.

So if you dig a bit further on this triple guarantee, I'm sure that there will be a line somewhere in the TOS or another link that is clickable through the sales page that offers the guarantee.

This will probably have the disclaimers and contact info on it stating

1. who pays that triple amount--the original author or the affiliate (ding-ding, warning here for affiliates)

2. How the guarantee is paid (not everyone can grandstand like the big seminar guys and hand cash to one person asking for a refund at the end of the day

3. that the company giving the refund requires evidence of your systematic approach to the program to see that you actually tried and didn't do the ROI math and think that a $7 investment would return $21 in 30 days.

4. what time limit triggers the triple refund? 7 days, 30 days, forever?

As far as the economics of offering a guarantee like this, they've done the numbers and it's probably very unlikely that they have many refunds at all at the $7 price, and almost none at the triple level.

Very interesting. I would hesitate to promote it until I could clarify whether the affiliate gets dinged on the refund if they ask for triple.

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toddperk

15 years ago

Eric,

Could you please PM me the link to the site that is offering that guarantee? Thanks!

Regards,
Todd

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Eric Land

15 years ago

Originally Posted by jasondinner

oh it's another one of those $7 script type products where the affiliate
gets paid instead of the vendor?

That alone should have stopped you from promoting the product in the
first place.

I'm just sayin'

What makes you say this i really haven't done any of these before so are there problems with them or have you just had a bad experience?

Originally Posted by toddperk

Eric,

Could you please PM me the link to the site that is offering that guarantee? Thanks!

Regards,
Todd

Just sent you a pm!

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jasondinner 15 years ago

Originally Posted by Eric Land

What makes you say this i really haven't done any of these before so are there problems with them or have you just had a bad experience?

no bad experience with it, just don't think the model is as sound as it was made out to be.

Just think about the repercussions of promoting products like this.

For starters, you get paid, so you have to give the refund if customer asks.

The product creator can pretty much drop off the face of the earth if they wanted to.

If the product creator turns out to be a scammer, their product sucks, or they just
suck at support, and customers respond with disputes or chargebacks, you're the
one that is at risk of losing your paypal account, not the product creator.

You have to deal with the backlash because you received the payment.

I'm not saying the product you promoted is bad or the creator is shady at all.

To me it just doesn't make sense to take on that responsibility when yo ushouldn't have to.

Let's say YOU created the product.

It's great , people love it.

Your affiliates love you because they are makign a killing.

But what happens when some of your affiliates refuse to issue refunds?

Well first, your customer asks you, then you have to go ask the affiliate to refund.

What if they ignore you? What if they never get your message for whatever reason?

What if they say F - off?!?

Then you're the one that has to fork over the refund -- making you a two time loser.

First, you paid 100% commission, then you had to pay 100% refund.

That's what I meant.

Either way, you're asking for trouble.

Hope this cleared up what I said in my first post.

Regards,
Jason
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- Eric Land 15 years ago
  
  Yes I do understand what your saying
  
  I guess in this case the product creater is a friend of a friend so i know this product is legit and in no way a scam.
  
  But your right there is some big responsibility with the refunds.
  
  Thanks for your input jason
  
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jasondinner

15 years ago

oh it's another one of those $7 script type products where the affiliate
gets paid instead of the vendor?

That alone should have stopped you from promoting the product in the
first place.

I'm just sayin'

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Raydal

15 years ago

I have one product that I offer double your money back guarantee
on and I've never had a refund request for it. (an ebook). But that's
how confident I am that people who buy and read will love it and
I've only received great reviews. Plus $10 won't hurt me that much
if some one was to take me up on the guarantee.

-Ray Edwards

P.S. (Non-IM product.)

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jasondinner

15 years ago

Originally Posted by Raydal

I have one product that I offer double your money back guarantee
on and I've never had a refund request for it. (an ebook). But that's
how confident I am that people who buy and read will love it and
I've only received great reviews. Plus $10 won't hurt me that much
if some one was to take me up on the guarantee.

-Ray Edwards

P.S. (Non-IM product.)

That's awesome Ray, congratulations on your 0% refund rate.

I too see a very low refund rate, less than 2% (even with some of my products in CB),
but would never put the potential refund burden on my affiliates.

I feel it shouldn't be their responsibility.

Like I said - I'm just sayin'

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Loren Woirhaye

15 years ago

http://www.google.com/search?rlz=1C1GGLS_en-USUS296US305&sourceid=chrome&ie=UTF-8&q=I+also+realize+I+have+nothing+left+to+lose,+si nce+you're+generous+enough+to+offer+me+a+"triple+y our+money+back+guarantee

I just copied and pasted the phrase into Google. Anybody who
wants to look at the offer can see how what the Google search
turned.

P.S. that's a super-secret IM ninja trick.

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Eric Land

15 years ago

Originally Posted by Loren Woirhaye

http://www.google.com/search?rlz=1C1GGLS_en-USUS296US305&sourceid=chrome&ie=UTF-8&q=I+also+realize+I+have+nothing+left+to+lose,+si nce+you're+generous+enough+to+offer+me+a+"triple+y our+money+back+guarantee

I just copied and pasted the phrase into Google. Anybody who
wants to look at the offer can see how what the Google search
turned.

P.S. that's a super-secret IM ninja trick.

haha its not that i don't want to tell you about the offer just don't want people saying this is a promotional thread.

P.s. that was a super secret ninja trick

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garyv

15 years ago

If you do the math, he'd have to have a refund rate of 25% or higher to not make any money. That's extremely high, even for a terrible product.

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kumisi69

15 years ago

Gee i would like to know who thinks there stuff is that good they must be pretty confident about there product

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Matt Bard

15 years ago

I don't know who is responsible for paying the refund in this particular case but it was well known in the direct marketing world ( mail order ) that there is only a certain percentage of people that ever request a refund even if the product is totally crap.

If you offer a double your money back guarantee ( just to make the math easier )then 50% of the people would have to request a refund for you to break even. The lower the initial cost of a product the lower the refund rate.

Also, as someone here in this post was heading to was the cost of the lead or in this case the cost of a customer.

If the refund numbers ever did reach the stage that you were "losing money" you can still be coming out ahead because you just "bought" the customers that didn't refund.

If you are doing your job, you should be in the position to make that "loss" back through your upsells and backends.

80% of your profits come from 20% of your customers.

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Eric Land

15 years ago

Originally Posted by Matthew Maiden

I don't know who is responsible for paying the refund in this particular case but it was well known in the direct marketing world ( mail order ) that there is only a certain percentage of people that ever request a refund even if the product is totally crap.

If you offer a double your money back guarantee ( just to make the math easier )then 50% of the people would have to request a refund for you to break even. The lower the initial cost of a product the lower the refund rate.

Also, as someone here in this post was heading to was the cost of the lead or in this case the cost of a customer.

If the refund numbers ever did reach the stage that you were "losing money" you can still be coming out ahead because you just "bought" the customers that didn't refund.

If you are doing your job, you should be in the position to make that "loss" back through your upsells and backends.

80% of your profits come from 20% of your customers.

Yea and then even if they did refund they would be getting opt in's for free

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How can someone Afford to do this?

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