A few ways to reduce Refund rates. - Is there anything you can add?

hitmeasap Level X⁵

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October 13, 2016, 7:56 pm

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A few ways to reduce Refund rates. - Is there anything you can add?

The IM niche is notorious for refunds and anything IM related will always have high refund rates compared to physical products. - I suppose one of the reasons for that is that a .pdf file for instance, is easier to request a refund for.

That being said, there's a few things you could do to reduce the refund rates. Feel free to add anything you can come up with besides these things I'll mentioned below.

First of all, make sure that you always deliver high quality. Quality products in your eyes might not meet the expectations of the buyers but at least you'll provide products of high quality according to yourself. - This should always be the very first thing to do.

Secondly, make sure to create a sales copy/service description that states exactly what the buyers will get. - That will reduce the refunds as any potential buyer will think twice before they buy.

And last but not least, provide great customer service. - This will help any potential buyers who haven't decided to purchase your product yet, to decide.. but it will also help buyers who already made up their mind on requesting a refund to think again, and with your great guidance, some of them will not ask for their money back, which means more money in your pockets.

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Lynne

Nice topic Andre and I really think that when it comes to things like digital products, especially when it is a pdf or something the customer downloads where they can keep it.

I think the problem here is two fold in that so many people deliver rubbish.. sorry but I have seen the most appalling eBooks before. An eBook that says it has 50 pages and when you open it up the writing is so large it could have been 50 sentences... that just makes me annoyed. Those 50 sentences might be gold but I am pissed off before I read them and even once I have read them I won't care that they are gold anyway because I should have received 50 pages

Then I do think that there are people that take chances and buy the product knowing that they can keep it and get their money refunded. You will probably get some of those no matter what you do.

So yes the best thing is to start off with creating a really good quality product and be transparent with exactly what will be received.

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Everett

You forgot a major component, an anti fraud system like this marketplace uses such as Sift Science, even if you don't have your own marketplace, but maybe sell physical items or products.

I would suggest Sift Science, or another anti fraud system however Jordan actually says this, so I'm assuming that the platform is worth it:

Sift Science handles the fraud detection for us so we can focus on what we do best. -Jordan DeLozier,CEO

Sift Science Online Marketplace

There's no doubt about it: your users are your lifeblood. But malicious users and spammers hurt everyone's experience and deal a major blow to your brand and your bottom line.

That's where we come in. With the power of large-scale machine learning, Sift Science can help you weed out the bad apples that are spoiling the online experience for everyone.

I'm pretty sure they weed out all the bad apples, and get most of them, I think or I hope. LOL. I haven't used Sift Science but I also haven't had a chargeback in forever so maybe this is the reason behind it. I wonder what kind of anti fraud measures are in place via Sift Science.. never really signed up to look.

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chetaseo

Thanks so much for this wonderful piece of tutorial. my favorite part s to state clearly what the buyer will get and even request that they contact you first if they seems confused or need clarification on anything about the gig or need so form of custom order. that surely will eliminate the possibility of any refunds later or now. by up to 90% as the buyer wil have not excuse to cancel the final order if he doesn't like the outcome. well done htimeasap for this. atleast i have learnt somethig today spot on.

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Cristian

I would always over deliver, get every client a little something extra, even the tiniest thing can make a difference between a "meh" client and a "good job will order again, thank you!" client. I did this a lot over the years and got myself a high rate of people leaving positive reviews, because not all clients will bother leaving a review, or maybe they'll wait a while to have some leverage if something ever goes bad in the future.

Second, make sure the buyer understand exactly what he is going to get, have very clear product descriptions, don't leave anything out, no surprises except positive surprises!

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