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Improve Sales with a Money Back Guarantee |
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An effective tool for encouraging online sales is the 30 day money back guarantee. Offering A Money Back Guarantee Boosts CredibilityIf you offer a 30 day money back guarantee for the return of a product in a saleable condition, you are demonstrating your credibility and faith in the quality of the product. This will help to win over more customers Refunds Are RareContrary to popular belief, most customers never take advantage of the money back guarantee. Customers just want to make sure they don't get stuck paying for something that is unsatisfactory. Once the product arrives, most customers are satisfied enough not to bother with a refund. Refunds Are A Part Of Doing BusinessRequests for refunds will occasionally happen. The more business you do, the more likely you will have to refund some sales. This is a normal part of business which you should figure into your business expenses. The sales you get from offering a money back guarantee more than offset the few returns you will get. Offering Refunds Are REQUIRED On Credit PurchasesAccording to the regulations set by Visa and MasterCard, you MUST accept a product return and give a refund for any purchase made by charge or debit card. If you don't, the customer can request a refund from the bank that issued the charge card. Plus, your business has to pay a chargeback fee in addition to the refund. Get too many chargebacks and the credit card companies may take away your ability to accept charge cards If you offer a refund upon return of the product, your only loss is the sale minus transaction fees. You avoid the chargeback fees, keep your track record clean with the credit card companies, and keep your customers happy. Make Your Customers Aware of Your GuaranteeProminently announce that you offer a money back guarantee on your website. You'll boost your sales and prevent chargeback fees from the few who do ask for a refund. |
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