Enter A Formula To Find The Product Of Two Vlues Inoculating Your EBusiness Against Customer Refund Epidemic: 7 Fearless Ways To Reduce Sales Refunds

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Inoculating Your EBusiness Against Customer Refund Epidemic: 7 Fearless Ways To Reduce Sales Refunds

Many digital marketers agree that the rates of return requests for digital products have now reached epidemic proportions. For most marketers, few things are as deflating as a refund request days after you’ve celebrated a sale.

While the policies of large payment systems such as PayPal have often sided with the customer, the return epidemic for digital products is now in full swing and shows no sign of abating anytime soon.

You can choose to whine about it, or throw your hands in the air, quit and look for paid employment or you can find solutions to protect your business in this toxic situation.

Here are 7 simple and inexpensive strategies you can use to reduce excessive returns for your digital product. Many of them also apply to traditional product sales.

1. Provide quality products that deliver on its promises. It may sound obvious but many sellers don’t understand that the quality of their products is the first and best line of defense against customer returns. At its core, with few exceptions, most returns stem from customer dissatisfaction. If the customer is satisfied, they will have no reason to request a refund. Providing great products that are truly worth their time and hard-earned money will remove any possibility of chargebacks from their minds.

2. Provide for an excellent customer support system. Many online business people believe that customer support is unnecessary for an online enterprise. This is a misconception. In contrast, a customer support system will increase the value of your product and greatly reduce your return rate. Knowing that issues with your product and your company can be addressed through an easily accessible channel will discourage many genuine customers from resorting to refunds.

3. Quick start guide is –. Information products can be overwhelming and people who are overwhelmed often choose the return option. You open a product and you have all these videos, audios and transcripts and you don’t know where to start. A quick start guide (either audio or written) can give people a place to start and it can help them consume content more easily. Once they have a quick start guide that can help them understand the chaos of your overproduction, most will calm down and forget about asking for a refund.

4. Send them a welcome letter after purchase- Sales should not be the end of selling a product to a customer. Many customers go through a period of buyer’s remorse. You should send a welcome letter or an extra gift (or both) to reassure them that they’ve made a good decision. A welcome letter should reassure the buyer that they’ve made a good decision by purchasing your product and get them excited to dig into the product and use it.

Welcome letters can also give them more information and resources, or it can double as your ‘quick start guide’ and give them instructions on how to get started.

Your welcome letter might include a small gift, or a little extra bonus or maybe even an extra unadvertised report. However, that only adds to the value of the product and helps your customers overcome their initial buyers’ remorse.

5. Set up a welcome auto-responder series. Just as many salespeople have a series of auto-responder emails to convert prospects into buyers, it’s equally important to create an auto-responder series to help your customers get started with your product. These emails can:

• Reassure them that they have made a good decision by purchasing your product

• Give them some additional tips for using the product

• Get them excited about diving in and getting started (remember, honest people who successfully look at your product are less likely to return it)

• Ask them for a testimonial or encourage them to refer a friend

• Sell them to the next level

6. Give surprise bonus few days after purchase -Send them an additional, unadvertised bonus later, approximately 3-5 days after purchase. This accomplishes a few things — your ideal customers feel cared for and it gives you another opportunity to reconnect and connect with them. This is a great way to build relationships with your ideal customers. People walk out of the seller relationship with the seller for no good reason.

7. Use video to showcase products – To reduce the frustration that often leads to returns, it’s a good idea to have demo videos to explain how your product works and visually demonstrate how to use your product’s various features. These demo videos can be used to demonstrate features, ease of use, and express products in a way that makes using your product ridiculously easy.

No merchant wants to receive a refund request. It’s both frustrating and downright frustrating. But keep your spirits up. Returns are part of the game. They are what we must live by. And luckily, they are something we can control.

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