Sep 2, 2018
In episode #763, Eric and Neil
discuss how you can reduce refund rates. Tune in to hear how you
can provide better service to avoid refund rates.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic:
How to Reduce Your Refund
- [00:35] First, understand why
people are asking for refunds.
- [00:58] When someone wants a
refund, ask them why.
- [01:11] Whether that is an
email or a survey, the info will be helpful.
- [01:27] Once you have about 50
answers, you will probably start to see a pattern.
- [01:45] Jump
Cut has an action-based
guarantee. They will refund if the customer proves they went
through the entire online course they offer.
- [02:20] Their refund rate
dropped to 5%.
- [02:42] Expand your refund
period. The longer it drags out, the fewer refunds you will
- [03:01] Adjust your
- [03:25] Offer to drop the price
instead of refunding.
- [03:47] When you do that,
customers like and respect you more.
- [04:10] Offer products and
services for a limited or set period of time.
- [04:59] That’s it for
- [05:03] Go to Singlegrain.com/Giveway for a special marketing tool
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