a Newbie refund question

by kswr123

Posted: 14 years ago 16 replies

INTERNET MARKETING

I am almost done with my first product, but I wanted to know. If I was to offer a 'no questions asked 30-day iron-cast money back guarantee', how do I do it?

If there a service which will refund people, or will I have to do it manually?

#newbie #question #refund

kswr123 14 years ago

can nobody help? I really would like to offer a refunbd on my product, but Im not sure how
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Justin Michie 14 years ago

You'll need to do it manually or outsource it to someone.
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kswr123 14 years ago

ok cool. So how do I do it manually. Do I need to provide a link inside the eBook?
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Justin Michie 14 years ago

Just give a support email and if someone wants a refund, they'll send an email requesting one.
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kswr123 14 years ago

ok thanks a lot. In your opinion, how many people are return junkies. Ie, they buy a product and want their money back within 30 seconds?
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Justin Michie 14 years ago

Usually, about 2% of customers will ask for refunds on average - but it depends a lot on your niche, product, price etc. I'd have refund requests as high as 5% and as low as 0.01%.
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TheRealDomainer 14 years ago

If you product is good and it delivers what it says it will do, there there is no fear of money back guarantee.

For you to use an auomated system combined with mannua, it has to be paypal.

If a customer needs refund, he can do that through your support email and also through paypal and in e-junkie, it will show reverse order.

What you then do is to log into your paypal and send back their money as refund.

Do not take a proccess of sending money back to your buyer without using the refund system so it will reflect.

On the whole, you will have barly 2% that will ask for refund if you have a good product.
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- Charles E. White 14 years ago
  
  I always give a refund manually. You can contact the customer and find out what they say is wrong with your product. In sales they say there are two reasons someone might not buy...the reason that sounds good and the real reason. If you contact the customer you may find out their real reason isn't legit and explain to them why it's not, thus saving the sale.
  
  If your product is what you say on your sales page then you won't get many refunds at all.
  
  A few years ago I had a WSO that I thought was pretty good about selling on eBay, unfortunately not everyone else did but even then I only had 3 or 4 refunds. That was my worse yet.
  
  Just be honest about your product and what it is and does and refunds will be the least of your worries.
  
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kswr123 14 years ago

ok thanks.
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Lee McIntyre 14 years ago

You will have to process refunds manually but you should have no reason to fear them.

A solid refund guarantee WILL increase your conversions, and even allowing for the people who return your product you'll still make more money (I'm assuming it's a solid product that does what it say on the tin).

As a side note, for my list building boxset when I increase the guarantee period from 30 days to 90 days the conversion rate bumped up. I'm now testing a 365 day guarantee.

I hope this helps

Lee McIntyre
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kswr123 14 years ago

Thanks Lee!
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jhongren 14 years ago

Hi saq3m,

Why not list it in Clickbank and use their affiliate system to automate the whole thing and meanwhile, you can invest the time to grow your business?

I believe if your product is good, the refund rate is going to be low...

30 days, 5 weeks, 365 days money back guarantee....I think it does not really matter if your product is of high quality.

With clickbank, you can also have affiliates promoting your product which is a win-win situation for you.

My 2 cents,
John
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- kswr123 14 years ago
  
  Thanks John. I am already managing affiliates in Paydotcom, because I honestly do not have the $50 start up cash for clickbank
  
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  Adam Kenzington 14 years ago
  
  Originally Posted by saq3m
  
  Thanks John. I am already managing affiliates in Paydotcom, because I honestly do not have the $50 start up cash for clickbank
  
  Clickbank also will make you wait 60 days to get paid. Another drawback if you are pressed for cash.
  
  So, tell us, what do we have to look forward to with your first product?
  What is it and what are your calling it? What price point are you offering it at?
  
  Good luck with it,
  
  Adam
  
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  "I can" is much more important than I.Q.
  
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  jhongren 14 years ago
  
  Originally Posted by saq3m
  
  Thanks John. I am already managing affiliates in Paydotcom, because I honestly do not have the $50 start up cash for clickbank
  
  You can always list it in WSO section and raise your $50. I am sure you can do it and earn more than that. =)
  
  Good luck!
  
  John
  
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  kswr123 14 years ago
  
  Probably.
  
  Heres the low-down.
  
  It's called: Mubarak Waseem's Recession Handbook 101
  
  It is A product that offers down-to-earth, sensible Recession-busting advice. There is a section for consumers, and a section for businesses.
  
  It is about 30 pages in length, and will also include an 'every cloud has a silver lining' section, about benefiting from the recession.
  
  No hype, No bs (thanks for the inspiration Lee M!). Just friendly advice. There is the eBook, which will cost $17, but I will bring it to $7 for a WSO. There is an OTO for $47, and a free 5 part eCourse using my free trial account of getresponse (does that run out?)
  
  That's it!
  
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