How to Reduce Requests for Refunds from Your Clients and Customers

 

 

Todd Brown of Marketing Funnel Automation would often say, “whenever it’s time to convert your prospects and leads into customers, never ever underestimate the tasks at hand”…

 

It goes without saying that it’s not at all easy to make people buy a thing from you…

 

It takes a lot of psychologies, systematic approaches, emotional addresses, empathetic and sympathetic moves, and so forth, to eventually move people to buy. 

 

More importantly, in this stiff world of competition, you have to present your business, product, or service in some unique way different from what your prospects have ever seen before, regarding that kind of business, product, or service…

 

…using the ultimate power of what I called the Outstanding Business Idea (or, O.B.I.).

 

Then, you have to present them an over the top offer – an offer that’s so irresistible, that no intelligent person can pass off – for them to easily buy into your product or service.

 

This is because people are so careful with how they spend their hard-earned money.

 

If they could find any offer that’s more appealing to them than yours elsewhere, they’d hurriedly go there.

 

One of these offer presentation methods or techniques that you could possibly use to lure your prospects or leads to quickly buy from you is the “money-back guarantee”.

 

It makes your leads and prospects feel much safety dropping their hard-earned money with you…

 

…because they know they can easily demand their money back if your claims about your product or service are eventually not as you’ve stated.

 

The money-back guarantee is an essential staple of marketing and business.

 

Especially if you are selling a big-ticket item, those who order will be subject to a natural human emotion known as “buyer’s remorse.”

 

“Did I really need that?” is a question that people will have.

 

“Have I just been conned?”

 

“Is this a waste of money?”

 

“Will this product really do what the salesman promises?”

 

“Did I get a good price?”

 

“Is this just another scam?”

 

To mitigate “buyer’s remorse,” follow-up the order with a letter, an email, and even a phone call aimed at reassuring your customer — who bought from you because he or she believed what you told him or her.

 

I’m sure you’ve asked these same questions yourself after buying something pricey.

 

Most refund requests come in right away — seldom weeks or months later.

 

That’s because “buyer’s remorse” sets in right after the purchase and then fades over time, even if the customer isn’t later thrilled with your product.

 

It’s during those first few days immediately after the purchase that the threat of a refund request is most acute.

 

So your follow-up campaign after the purchase is very important.

 

It’s a critical marketing element ignored by most businesses.

 

Your letter should congratulate your customer on his or her purchase.

 

Reassure him or her that he or she made the right decision.

 

Your letter should restate the promises you’ve made and offer to help him or her if he or she has any trouble using your product.

 

Encourage him or her to call you, or his or her customer service representative (in your company), if he or she is having any difficulty.

 

Stay in communication with your customer to make sure the product is working as anticipated.

 

If you use email marketing in your business, you could automate some series of messages to follow-up with the purchase your client or customer just made.

 

You could setup a series of follow-up emails with the following headlines: 

 

Email #1 (day 0; immediately on purchase): Congratulations on your purchase. You’ve made the right decision.

 

Email #2 (day 2; 2 days after purchase): How are you finding the product?

 

Email #3 (day 4; 4 days after purchase): Just checking on you…

 

Email #4 (day 8; 8 days after purchase): What other ways can I be of help to you?

 

Email #5 (day 10; 10 days after purchase): Get access to resources that could be of help to you…

 

 

By following up like this, you will diffuse any anxieties and frustrations your customer might be having.

 

Most importantly, you will begin to develop a relationship with your new customer that will set the stage for many more sales to this customer in the future.

 

 

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