Ways To Reduce Refund Rates

What's the niche?

If it's IM related refunds go with the niche.

There are always serial refunders. The best thing to do is honor your policy and keep your reputation without worrying about the refunders if only a small portion of your sales are refunded. Listen to feedback from those who refund and/or complain and take it seriously.

Otherwise, just make sure that you meet or exceed what your customers expect you to deliver.

don't produce crap.

Make your sales copy so people know exactly what they are buying

Provide great customer service

al

My product in the IM niche ( Kindle publishing) has not even 2% refund rate and about one thousand people went through it!

But i'm well aware that what I have should sell for $100+ and i'm selling it for really, really cheap. You basically want to provide so much value that people don't even want to refund it. On these refunds, most of them were because of technical problems on the membership website too..

This is a good questions. I think there are two really important ways to reduce refunds.

1. Make sure you have quality content and selling a product that works.

2. Analyse and assess your marketing strategies. How are you marketing your product and who are you marketing it to. I you using deceiving sales techniques or are you genuine. is your target market specified and genuinely searching for the content/product you are selling?

Those are all questions to consider.

The quality of the product goes without saying. Also make sure the sales copy stated as clear and as detailed as possible what's included so people know what they are getting and can expect from the product. For serial refunders, make it clear under what cicumstances the refund can be granted.

if you tested your offer without a refund policy..

try that and see what happens

-Ike Paz

I've seen this done by a few internet marketers during a big launch....


That is - As soon as the customer has made the purchase, announce they will get an additional (super cool) free gift in the weeks to follow.


The idea is that they get the gift after the refund period - but obviously I won't word it like that.


Has anyone tried this?


BTW - My refund rate are generally about 3% and I honour most refunds out of the refund period as a goodwill gesture.

As @aizaku suggested, have you even tried taking out the refund money-back guarantee and pitching your product. If the product is good and is selling, you might not need a refund policy. The buyers who are really interested will anyway buy and the ones who're looking for a "refund policy" will stay away. It might be worth giving it a try and if sales drop, then put it back up.

What I do to have almost zero refund requests.

1. State clear on your copy what they are going to receive. (ebook, downloaded, etc)

2. Over deliver on your product.

3. Unadvertised bonus on download page.

Honestly the higher priced the product the lower the refund rates. Not always but as a general rule. This is because lower priced products attract a different kind of buyer than higher priced ones. The lower priced products attract the 'shiny object seekers' .. the higher priced ones attract people running an actual business.

can you put a "No Refund" steatement on your page

say that this is a digital download that can't be returned, and if they don't like that policy, then don't buy the product

'.

I think everybody here answered the question right, just ask yourself this one question, would you buy it, and can it really help your customers, or can people find the same thing online for free, if so, then, you know the answer.

If you know without a doubt that your product is worth the money you are asking, then maybe you should not offer a refund.

I know that you will get more sales offering a refund but if your sales copy is good, your product is good, and you offer excellent bonuses on top of the product then don't offer a refund.

You can use other payment options besides Paypal that won't require a refund.

If the content you are offering is valuable and you use it then it is worth the sale price if someone buys it without a refund policy.

2 Checkout or AVANGATE WILL NOT ISSUE A REFUND, OR ACCEPT A RETURN OR EXCHANGE, IF YOU HAVE BROKEN THE SEAL OF THE PRODUCT; DOWNLOADED THE PRODUCT; OR THE NATURE OF THE PRODUCT IS SUCH THAT A RETURN IS NOT FEASIBLE, WHICH FEASIBILITY SHALL BE AS DETERMINED BY AVANGATE IN ITS SOLE DISCRETION (E.G., PRODUCT WAS CUSTOMIZED FOR YOU).

You can use other payment processors.

Providing excellent customer service which is fast and efficient will help reduce refunds. Depending on volume, you may need agents to deal with emails/tickets and/or web chats.

If you give the agents an element of flexibility with dealing with customers, then they can proactively try to save sales. For example, offer a small discount off their next purchase, a complimentary product or a partial refund and they can keep the product.

Why are you looking for ways to reduce refund rates, is this a specific issue you are having or are just seeking general info. What is your refund rate like at the moment?

In 10 years of IM and after launching countless products I can honestly state that I can count on one hand the amount of refund requests Ive had.

The thing is that there will always be serial refunders, those that will buy the product with the sole intention of seeking a refund immediately after, there is nothing that you can do about that but thankfully those people are few and far between.

Beyond the serial refunders if a person buys your product and does not feel that they have had value for money then that is an issue with the quality of the product in relation to how you positioned it and you have to start thinking of ways to over deliver.

Another issue I see time and time again is sellers reneging on a guarantee and getting into arguments and ruining their rep over $10. Is it really worth having your name spread over social media for $10.

I dont feel there are strategies to reducing refund rates, I think it should be more of a common sense approach.