10 replies
This might come across as bragging, but I'm also curious as to how outside the 'norm' I might be.

I've sold in to the low 5 figures for my products in the last year, and had less than 15 'refunds'. Actually, no *requests* for refunds at all, but a few cancellations via Google Checkout. A few purchase, then cancel 2 minutes later, and a few where the credit card was declined.

My price point is pretty low - $4.99 - which may account for some of it - perhaps people just don't think it's worth it to ask for a refund on that amount?

Or perhaps the market I'm serving - technical developers - made enough of a judgement call before purchasing to be satisfied with their purchase?

What are your return rates? What factors do you think play in to refunds/chargebacks, and what markets have high and low refund request rates.

What steps do you take to ensure fewer refunds?
#refund #requests
  • Profile picture of the author Daniel E Taylor
    Great Customer Support
    Killer product.

    Do you want to know what my #1 refund request was
    this year?

    People bought the same product twice.

    Daniel
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    • Profile picture of the author mgkimsal
      I've had that a couple of times, but the request was generally not for a refund, but just to modify the purchase to another product. Because my product is a monthly serial, there's almost always another issue they wanted instead.

      I should probably put something in to prevent duplicate purchase of the same item, but I also let people buy multiple licenses and distribute in their company, so there are a few legitimate cases of someone buying 3 "copies" of a PDF - hey, some people are just really honest
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      Michael Kimsal
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  • Profile picture of the author RGallowitz
    Something I learned over the years is that if you tell people EXACTLY what they are getting, your refund rate drops dramatically. When you start to hype too much then you risk disappointing people.
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    • Profile picture of the author mgkimsal
      Originally Posted by RGallowitz View Post

      Something I learned over the years is that if you tell people EXACTLY what they are getting, your refund rate drops dramatically. When you start to hype too much then you risk disappointing people.
      I think that's probably a key, and while it wasn't overly intentional, I do try to 'underhype' almost. That's more my personality/nature than anything specific to marketing these PDFs. I probably could stand to do a bit more aggressive marketing, but what I've done so far has worked moderately well, so I feel like I should just be tweaking rather than making bold changes at this point.
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      Michael Kimsal
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  • Profile picture of the author jaiganeshv.com
    Killer product with cheap price.

    either you have a great customer support or DO NOT PROVIDE THAT AT ALL
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    • Profile picture of the author mgkimsal
      Originally Posted by jaiganeshv.com View Post

      Killer product with cheap price.

      either you have a great customer support or DO NOT PROVIDE THAT AT ALL
      Heh

      I think I provide pretty good service. I was answering inquiry emails from the caribbean last week at *40 cents!* per minute of connection time.
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      Michael Kimsal
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  • Profile picture of the author Joe Dalton
    Under promise, over deliver.

    It's quite simple - just put yourself in the customers shoes. If you feel like you've paid more than something should have cost you'll naturally want a refund.

    When creating info products I'm sometimes happy to get a refund request as it gives me an opportunity to ask that particular customer why they weren't happy and then work on fixing that specific problem.

    It's all about feedback
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  • Profile picture of the author dsmpublishing
    Hi guys

    i've had three refund requests this year with clickbank and 1 with paypal and sell hundreds of products every week from $3 to $97 depending on the price of the product.

    The only time that i have ever had higher than normal refunds was when i did a lot of business on ebay which is perfectly normal.

    If you sell rubbish you are bound to get a lot of refund requests.

    kind regards


    sam
    X
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    • Profile picture of the author mgkimsal
      Originally Posted by dsmpublishing View Post

      Hi guys

      i've had three refund requests this year with clickbank and 1 with paypal and sell hundreds of products every week from $3 to $97 depending on the price of the product.

      The only time that i have ever had higher than normal refunds was when i did a lot of business on ebay which is perfectly normal.

      If you sell rubbish you are bound to get a lot of refund requests.

      kind regards


      sam
      X
      Thanks! Do you notice any correlation between the rate of refund requests vs the price? Sounds like you're probably not getting enough to draw any correlations.
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      Michael Kimsal
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  • Profile picture of the author Marketing Cheetah
    I think low price is the reason there were no refunds
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