Comments on: 4 Facts Every Marketer Needs to Know About Refunds http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html Business-Building Secrets for Growth-Obsessed Companies Tue, 06 Jan 2009 04:13:47 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Jim Macy http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-7343 Jim Macy Wed, 22 Oct 2008 15:28:14 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-7343 I offer a 1 year, 100% money back guarantee on my weight loss program, and in 7-years the only request I have gotten was from a guy who paid with a declined credit card and didn't return the program. Oh well! The guarantee for a full year make the decision to buy easy. Your article was great, thanks for the validation. Maybe I should try a longer guarantee. When I started doing money-back guarantees I had heard only about 4% return, but I've found it less. What is your experience? I offer a 1 year, 100% money back guarantee on my weight loss program, and in 7-years the only request I have gotten was from a guy who paid with a declined credit card and didn’t return the program. Oh well! The guarantee for a full year make the decision to buy easy.
Your article was great, thanks for the validation. Maybe I should try a longer guarantee. When I started doing money-back guarantees I had heard only about 4% return, but I’ve found it less. What is your experience?

]]> By: Jeremy Reeves http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6490 Jeremy Reeves Thu, 04 Sep 2008 02:27:46 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6490 Travis I like your suggestions on increasing the price if you get no refunds. That's a keeper :) Bob, great post on guarantee's and one that many people just don't quite "get". I heard of a guarantee someone did (can't remember his name) who made it a <strong>TIMELESS </strong>guarantee. Yep - timeless...anybody, at any time, even the consumers great, great grandchildren...could return it for a full refund. Now that's ballsy! Jeremy Reeves www.GetClientsIn20.com Travis I like your suggestions on increasing the price if you get no refunds. That’s a keeper :)

Bob, great post on guarantee’s and one that many people just don’t quite "get".

I heard of a guarantee someone did (can’t remember his name) who made it a TIMELESS guarantee.

Yep - timeless…anybody, at any time, even the consumers great, great grandchildren…could return it for a full refund.

Now that’s ballsy!

Jeremy Reeves
http://www.GetClientsIn20.com

]]> By: Travis Lee http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6455 Travis Lee Tue, 02 Sep 2008 16:58:58 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6455 Great post Bob.  So many people are scared to offer a refund or guarantee for now reason at all!  Here's one thing I would test.  If you're getting virtually no returns on your $29 ebook, why not raise the price and see if your refunds stay the same or increase?  That's something we've always preached, if you have zero or very little refunds, raise the price.  Great post Bob.  So many people are scared to offer a refund or guarantee for now reason at all!  Here’s one thing I would test.  If you’re getting virtually no returns on your $29 ebook, why not raise the price and see if your refunds stay the same or increase?  That’s something we’ve always preached, if you have zero or very little refunds, raise the price. 

]]> By: Jason Moffatt http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6453 Jason Moffatt Tue, 02 Sep 2008 16:37:46 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6453 I've written guarantee's that literally are begging people to rip me off.  I may of even used to words "rip me off" in the guarantee too! Truth is, I think the majority of people feel like chumps when they refund something, especially if they are fond of the seller. I know I'd feel like a jack-ass trying to refund something from a credible seller. I’ve written guarantee’s that literally are begging people to rip me off.  I may of even used to words "rip me off" in the guarantee too!

Truth is, I think the majority of people feel like chumps when they refund something, especially if they are fond of the seller.

I know I’d feel like a jack-ass trying to refund something from a credible seller.

]]> By: Carol Bentley http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6452 Carol Bentley Tue, 02 Sep 2008 16:27:00 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6452 I totally agree with Bob's views (in fact I've even bought some of Bob's materials safe in the knowledge he is an ethical supplier I can trust, partly because of his guarantees) and have long advised my clients to offer a guarantee. Often their guarantee starts off with something fairly low-key, because of their natural nervousness about being 'ripped-off'.  But once the orders start coming in they quickly realise how powerful this approach is.  And of course, if you're offering anything on the net, it's almost a given that this is the only way you can truly give people you don't physically meet the confidence to buy. Like Bob, I give an unconditional, money-back guarantee on my published book. In fact I tell my readers to highlight the passages they want to note as they read - and even then they can still return it if they wish.  The refund guarantee is printed in the book, which I believe was almost unheard of here in the UK when I published in 2005.  I've only ever been contacted twice about that guarantee - and that was with a request for a replacement, not a refund, because the book had fallen apart!  I'm not sure if that happened because they got a badly bound copy or because it was well-read.  Either way didn't matter - they got their new copy. So - if you're reading this and feeling a bit sceptical about offering a guarantee - especially if you have a physical product - I'd strongly suggest you give it a try, you may surprise yourself. ~ Carol I totally agree with Bob’s views (in fact I’ve even bought some of Bob’s materials safe in the knowledge he is an ethical supplier I can trust, partly because of his guarantees) and have long advised my clients to offer a guarantee.

Often their guarantee starts off with something fairly low-key, because of their natural nervousness about being ‘ripped-off’.  But once the orders start coming in they quickly realise how powerful this approach is. 

And of course, if you’re offering anything on the net, it’s almost a given that this is the only way you can truly give people you don’t physically meet the confidence to buy.

Like Bob, I give an unconditional, money-back guarantee on my published book. In fact I tell my readers to highlight the passages they want to note as they read - and even then they can still return it if they wish. 

The refund guarantee is printed in the book, which I believe was almost unheard of here in the UK when I published in 2005.  I’ve only ever been contacted twice about that guarantee - and that was with a request for a replacement, not a refund, because the book had fallen apart!  I’m not sure if that happened because they got a badly bound copy or because it was well-read.  Either way didn’t matter - they got their new copy.

So - if you’re reading this and feeling a bit sceptical about offering a guarantee - especially if you have a physical product - I’d strongly suggest you give it a try, you may surprise yourself.

~ Carol

]]> By: J Michael http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6451 J Michael Tue, 02 Sep 2008 16:25:51 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6451 Captn Bly: I like your points. Please explain how you would TEST different refund time lengths?   Would that not frustrate or possibnly infuriate the shorter term testee??? Like the person who got the 30 day vs 90 day?  Thanks again. J Michael Captn Bly:

I like your points.

Please explain how you would TEST different refund time lengths?   Would that not frustrate or possibnly infuriate the shorter term testee??? Like the person who got the 30 day vs 90 day? 

Thanks again.

J Michael

]]> By: JudyAnn Lorenz http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6449 JudyAnn Lorenz Tue, 02 Sep 2008 16:10:35 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6449 A satisfaction guarantee that doesn't demand a detailed story is one of my most satisfying shopping experiences.  I seldom return, but when I do, the seller has much greater positive karma coming from me than if I have to be frustrated justifying my decision. A satisfaction guarantee that doesn’t demand a detailed story is one of my most satisfying shopping experiences.  I seldom return, but when I do, the seller has much greater positive karma coming from me than if I have to be frustrated justifying my decision.

]]> By: Tracy "PowerGal" Monteforte http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html/comment-page-1/#comment-6448 Tracy "PowerGal" Monteforte Tue, 02 Sep 2008 16:10:22 +0000 http://www.makepeacetotalpackage.com/bob-bly/four-facts-every-marketer-needs-to-know-about-refunds.html#comment-6448 Great article and I agree with you 100%. We have always offered a 30-day unconditional money-back guarantee for our membehip program. We don't even make the customer ask for it. If they cancel in the first 30-days, we automatically refund their money. Usually they cancel because the discover the product is not right for them. We'd much rather have a satisfied non-customer than a dissatisfied customer. Who do you think makes more noise and causes more problems? Providing value first is just good business! :-) Tracy 'PowerGal' Monteforte Co Founder WTPowers.com Great article and I agree with you 100%. We have always offered a 30-day unconditional money-back guarantee for our membehip program. We don’t even make the customer ask for it. If they cancel in the first 30-days, we automatically refund their money. Usually they cancel because the discover the product is not right for them. We’d much rather have a satisfied non-customer than a dissatisfied customer. Who do you think makes more noise and causes more problems? Providing value first is just good business!

:-) Tracy ‘PowerGal’ Monteforte
Co Founder
WTPowers.com

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