You can dramatically lower your refund rates now!
Have you noticed how little time and little effort the average (cash strapped) small business owner devotes to figuring out, how to lower your refund rates ?
This is really odd (especially) when you consider how vitally important the refund process is to (both) your long term cash flow and equally important, the long term relationship with customer/client(s.)
Of course it’s always nice to implement tactics and utilize strategies that will increase your online profits.However, it’s also equally important that you devote a portion of your energy to (both) reducing your refund (charge back) rates and retaining your customers over the long haul.
All businesses (no matter) what your particular niche is, at some point experience refund requests. It’s simply a part of doing business.
The Following Three Powerful Strategies Have Proven Over Time To Be Extremely Effective In Reducing Your Credit Card Charge Back Refund Requests.
Strategy # one: Any time you can (it always) makes sense to mail your customers/clients a snail mail “thank you” postcard or two. Think about for a second.
You spend and or invest tons of money (and devote) other resources in order to create that first time customer.
Which (on average) by the way,typically costs your business an additional 500% in up front expenses in order to create them.
And if (for whatever) reasons, they decide to ‘demand’ their money be returned.
You not only lose all those potential future sales. But typically, your business will suffer in at least three other ways as well.
1.) You’ll lose all of your satisfied customers potential future referrals. And if the ‘lifetime value’ of your customers is measured in years, that could easily (potentially) cost you thousands of dollars in future sales.
2.) You won’t be able to cash in on your satisfied customers ‘bank account’ filling power testimonials!
3.) And lastly, you’ll also miss out on all their powerful ‘money making’ feedback! Who else knows better than them, what they like and dislike (specifically) about your products or services!
Don’t Always Rely On Your Gut Feelings When You Ask Your Ideal Customer Or Clients!
Strategy # two: You can take a giant step towards dramatically decreasing your refund rates when you start systematically offering your customers unexpected (and) unadvertised powerful free (digital) bonuses!
You can also snail mail them unexpected free bonus gifts that you get from your top joint venture partners and this type of unexpected surprise goes along way towards reducing refund rates and retaining a healthy and prosperous long term relationship with your customers and or clients.
Strategy # three: Whenever possible create an ongoing ‘customer loyalty program’ of some kind. This type of incentive helps build long term customer loyalty and the (long term) net result is, less customer refund requests.
Bonus strategy: Another really powerful way to decrease your refund rates (right up) front is to prevent as much as possible, the ‘refund mentality’ to affect your customers from the outset.
And one of the simplest ways possible is by strategically utilizing a very powerful marketing strategy often referred to as “Risk reversal.”
Here’s (basically) the way it works. Suppose you sell high end workshops/seminars and or tele-seminars. And it also works equally well if your market paid membership sites that are priced anywhere from $37 dollars per month & up.
Offer your paying customers (the moment) they sign up (meaning) for instant download. A of your best market tested digital products (namely) powerful free special reports and or DVD/audio programs that normally retail for $1,397.00 dollars or X!
Just Keep Building Value In The Eyes Of Your Customers And You Won’t Get Nowhere Near As Many Refund Requests!
But here’s the kicker! They get to keep these seven powerful free bonus gifts, even if they decide to:
A.) Ask for a refund.
B.) Cancel their paid membership.
The rational is simple. Because the bonuses are so incredibly powerful and useful to them. Very few will want to request a refund, because (both) your products and service over delivers!
But if they do decide to request a refund they still feel like they’ve gotten the better part of the deal! That’s how you make your online profits grow!
And of course if your wondering (where the heck) your suppose to get all of these powerful free bonuses from, especially if you’re just starting out?
Why from your top joint venture partners, where else? And of course, if still hasn’t dawned on you yet, you are (both) free and encouraged to use the free nine page special report that you downloaded from this blog, as part of your own free bonus gifts to your customer/clients.
It’s (highly) advised that you not offer to your subscribers (initially) as their free gift for joining your particular list!
Because you want to avoid being a copy cat me too marketer. You’ve got to offer your target audience something original (in order) to position yourself within your particular niche as a respected expert.
Well, there you have it, three incredibly simple (low cost) ways to effectively lower your refund rates, without spending a fortune to do so.
This Is Definitely One Of The Extremely Critical Parts Of Your Business Or Service Which Doesn’t Cost You A Fortune In Order To Be Or Become Effective!
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Extremely important note:And if by chance, you happen to know any of the lesser known podcasters, who also target,small business owners,service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers.Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa!Thanks!
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