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Ask HN: Anyone offer 110% guarantee for their products?
Has anyone actually offered a 110% cash back guarantee for their products or services? I read about it in The Four Hour Work Week, but it's a little scary to actually do it in practice. Ferris claims very few people maliciously take advantage of it. Has anyone here gotten burned by this type of guarantee?
- timf 18y agoThe price of the product probably matters a lot. e.g. I don't plan on prorating monthly subscription cancellations but this won't result in any severe amount of money gone if someone tried to abuse unless there was some giant, coordinated scam. In the latter case, whoever's credit card got stolen would likely do a chargeback anyhow.
- tjic 18y agoI offer a 120% guarantee at SmartFlix.com. I've only had one customer ask for it.
- imp 18y agoCool, thanks. That's good to know.
- chris11 18y agoThe request rate for 110% cash back might be similar to the rates for rebate offers. People have said rebates get returned anywhere between 2% and 60%, but it sounds like the industry average is less than 10%. So I doubt many people would ask for the 110% cash back. And as for customers taking advantage of it, I really think the number would be less than of people who didn't take advantage of it when they weren't satisfied. Personally I know of one small rebate that I didn't end up cashing in because I never got around to it, and I would have to be really unsatisfied with a product to go through the time and hassle of asking for my money back. Wikipedia Link:http://en.wikipedia.org/wiki/Rebate_(marketing)#Some_redemption_estimates http://en.wikipedia.org/wiki/Rebate_(marketing)#Some_redempt...