Yesterday, Willie Crawford started a thread, asking people their thoughts about refunds. I'll share my story since it's 1:27 am and I can't sleep until I get it off my chest.
I've had this topic on my mind for about a week now.
Why? Because when you start selling products online, and you have a liberal refund policy, guess what? You're going to get refunds!
Now, the funny thing is...
Your refund policy might be "No questions asked", but as far as your refunder is concerned, they're often going to offer you... all the explanation in the world!!!
(These are the type of things you CAN'T learn by reading a book.)
See, I just got a refund yesterday...
And this was the reason:
"I'm disappointed! I missed something you said in your video, and I don't want to rewind it and listen to it again. Therefore, I'd like a refund."
Think about that!
This person is literally throwing the baby out with the bathwater. The sad part is that this is the excuse they used to get their refund. Because literally, they could have just said...
"Hey, can I have a refund?"
And that would be that!
Because that's my policy!
But instead I get this garbage for a response. You'll get these types of explanations too. It's not solicited. It just comes. Here's the "secret"...
You just can't let it get to you.
(Which is what these whole "refund debate" is about. People take it oh so personally!)
As for me?
I just laughed and laughed.
You can't get mad about these things or your exhibiting poverty consciousness folks. For example, there is a VERY "prominent" member of this forum...
Who explicitly DOES NOT offer a refund policy. And she was talking about it publicly, when someone said to her...
"Yeah, but, think about all the money you're leaving on the table!"
"I'm not leaving money on the table. People either get it or they don't. And when they buy, I keep all the money. Therefore, I'm smart."
Or something like that.
And this person is supposedly a "smart" marketer...
But she doesn't realize that have a no refund policy dramatically reduces your sales conversion rate? How smart can she be, right?
This is just one of those things you NEVER learn until you start selling products of your own. You can sell affiliate products all day, and never see a single support ticket...
But when you sell products of your own...
It's a whole new ball game.
I don't care how "GOOD" your product is, if you offer a refund policy, you're going to get refunds! Often within minutes!
The simple fact is that most of these people have made up their minds before they buy. No skin off my back.
The value your customers get out of putting your stuff to use, or not, isn't your job. There's no use in trying to pretend it is.
And anyone who won't "rewind the tape" (This is the internet folks, all you have to do is click a few seconds back on the timeline) isn't going to make it anyway.
You can't help those people.
But you can make more money by offering a guarantee. People respect guarantees. Even the ones who buy and refund 10 minutes later.
Look. If they need the money, and they want your product, they need the money. And they can buy your product.
Let them have it. Don't be such a tightwad. It'll allow more money to flow to you. And personally, I think this new trend of not offering refunds...
Is going to bite a whole bunch of people where the sun don't shine when the regulator agencies catch up with them. At least if they're doing any volume at all!
They don't mess around.
As Gary Halbert would say...
[indent]"Won't this increase your refunds? Yep, it will. It will probably triple them.
But this technique will also triple your sales!"
If you can't do math, that's fine. I get it. Math isn't that exciting. But money math is. And if you understand the extreme advantage of the economics on the above statement...
Then you also know it's blindingly stupid not to offer refunds.
That's my two cents.
PS. Disagree with me? Have at it.
PPS. I'll probably link all my "stupid reason why" refunders to this thread from now on. Here's my advice: Just ask for the damn thing. We don't care. Don't tell us some fake sob story!