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And that's exactly why guarantees are so effective for sellers. It takes that risk off the customers shoulder, and due to the "Oh, it'd be embarrassing to refun
by 50CNT 10y ago
And that's exactly why guarantees are so effective for sellers. It takes that risk off the customers shoulder, and due to the "Oh, it'd be embarrassing to refund this app, since that means I made a mistake", very few people actually go through with the guarantee.
One pitch I found pretty neat goes roughly as follows.
Buy <product> now, and if within (30|90|365) days you at any point feel unsatisfied with it, feel free to ask for full refund, no questions asked, and you get to keep our <marginal cost 0 infoproduct>, valued X$, as a gift from us for trying it out.
Short breakdown of it.
"Buy <product> now" - bog standard call to action
"(30|90|365) days" - if the product is any good, longer guarantees usually reduce returns, since they give more time to grow on the product and forget the guarantee date.
"feel unsatisfied" - eg. you don't even need a reason to return it
"full refund" - that's pretty d'uh now, try a 110% refund for extra excitement
"no questions asked" - eg. we're not going to hassle you for trying to use this. you will not feel stupid.
"get to keep <infoproduct>" - even if you opt out, you get something
"valued X$" - with a home made infoproduct, that value is pulled straight from the posterior, but gives a value anchor
And suddenly that 3000$ product seems less risky than a 2$ app.
- username223 10y ago> And that's exactly why guarantees are so effective for sellers... very few people actually go through with the guarantee. Not always -- many people are shameless jerks. REI used to have a lifetime no-questions-asked return policy, but people were returning worn-out shoes and such, so they had to discontinue it.
- SyneRyder 10y agoAnother reason to offer this money back guarantee when selling products online: you're already doing this whether you want to or not. Your customer's credit card company will usually offer a chargeback within 90 days, and then you'll cop the penalty fee for the chargeback. You may as well offer the same guarantee as the cards do, but encourage the customer to come to you instead. You'll avoid the fee and potentially get intel on what problems customers are having with your product.
- exolymph 10y agoGreat advice, implemented it: https://productcomms.club/product-communication-basics/ https://productcomms.club/product-communication-basics/