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If you sell an online digital product, you surely propose a satisfaction guarantee, and most of digital products platforms such as ClickBank require it.
This is also a way to secure your customers and to make them more likely to buy.
However, many people abuse of it, buying the product with intent to refund a few minutes after their purchase.
Here are two tips proven to reduce your refund rates by at least 50%:
Don’t Give Everything In The Minute Following A Purchase
By delivering for instance only a part of your product just after a purchase, then a bonus or additional content the week after, and then another document with more advices a few days later, you limit immediate refunds.
You can also deliver the complete product right after the purchase, and send out regularly bonuses in the form of practical advices or complementary tools.
Insist on the existence of these bonuses and on their importance.
The goal is to make customers who intended to refund right after receiving the product postpone their decision.
Indeed, when we put off until later a decision, chances are high that we forget it.
Negotiate With Your Customers
When a customer requests a refund, nothing prevents you from negotiating with him.
The point is to never refuse to refund him in order to respect your guarantee.
– If the customer asks for a refund in the minute following the purchase (which is often the case and proves that we may face a ‘serial refunder’ or a dishonest affiliate), here is what you can propose him:
“I’ve noticed you asked for a refund a few minutes after you received the product. You still have 60 days to get a refund. Why not take the time to read/watch/use the product? Every week, you will receive an additional tool and this would be a pity to miss it.”
Here, what you are negotiating is time.
If the customer accepts to postpone his decision, there are 50% of chances that he forgets requesting a refund in the future.
– On the contrary, if the customer is honest but seems disappointed by the product, you can propose him what follows:
“I am sincerely sorry you don’t like the product. I propose you to choose two products on the list here (link). I give them to you for free.
If you prefer a refund (of an inferior value in comparison to the two products you can choose), it will be processed without delay.”
In both cases, you will want to refund within 24 to 48 hours if you don’t receive any answer from your customer, in order to honor your guarantee.
And you, what techniques do you use to limit your refund rates?
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Source by Remy Roulier
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