Internet Marketing Strategies And Tips

10 Great Ways to Reduce Your Refund Rates

One of the great banes of Internet marketing is the refund rate. Imagine having a 500+ gravity on Clickbank, a $35 per/customer average and only coming away with four figures a month because of a massive refund rate.

I've seen it happen before and it's extremely frustrating. But, if you're anything like me, you're a proactive marketer, so these ten tips to reducing your refund rates should keep you from ever missing out on that kind of profit.

1. Follow up with Customer Email Marketing - One of the simplest ways to reduce refunds is to keep engaged with your customers after the sale.

Add them to a mailing list through Amember or DLguard (or whatever product management tool you use) and send regular messages with niche updates. Find out more about email marketing services at our autoresponder review page.

2. Don't Over Promise to Convert Sales - Many times customers simply get too hyped by flashy sales copy that promises more than a product can deliver. Either upgrade your product to match its own hype or rewrite your copy so it isn't so full of superlatives.

3. Lifetime Bonuses, Updates, and Upgrades - If you create ongoing value, it is easier to engage someone over time. Easy ways to do this are free reports for members every few weeks, along with promises of updates and upgrades for free whenever the product changes.

4. Target Your Traffic - Nontargeted traffic can lead to low quality customers which leads to higher refunds. Target the specific people who really NEED your product and the refund rate will immediately decline.

If you're using PPC, make sure to integrate negative keywords and split test your ad groups to weed out ad copy that attracts customers with high refund reflex.

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5. Raise Your Price - Believe it or not, a higher price can actually result in lower refunds. When you raise the price, your buyers will have a higher perceived value in the product. It also ensures that the people who buy are aware of what they're getting and not just buying for the sake of buying.

6. Upgrade Your Guarantee - A longer, stronger guarantee will also make for a better refund rate. Short, shifty looking guarantees create doubt in your readers that can translate to a refund expectation. Also, with a short refund time, most people planning on asking for one will do it more quickly.

However, with a long, generous refund period, they may wait longer and ultimately forget to file for one.

7. Easy Access Customer Service - Always make it easy to access you and get customer service. Have a ticket system and make sure there is someone constantly monitoring the emails

8. Polish that Sales Copy - Your sales copy is the first thing your readers will see and it needs to be not only accurate, but compelling. Make them see the value in what they bought. If they don't understand how much they can get out of your book, they might ask for a refund.

9. Continue to Remind of Value - During the purchasing process, during the OTO phase, on the checkout page, and in their inbox remind them of exactly what your product can do. In the book itself (if it is a digital good), remind them of its value.

Never stop selling. Even with the product sold, you need to convince them that their buyer's remorse is unjustified. They can really use your product.

10. Make a Great Product - Finally, and this is the most obvious thing you can do, make a good product. Too many marketers get carried away with the nuts and bolts and forget to have a solid, well produced, high quality product on offer.

Refunds can kill a fantastic launch faster than you can imagine, but it doesn't need to be like that. By ensuring the value of your products, introducing a sound guarantee policy, and providing top notch service for a top notch product, you can get those rates down into the very low single digits.

In my opinion, a good refund rate is better than boosting your conversions - it speaks to customer satisfaction and sets a strong foundation for the future. Keep your customers happy and you can only get better.

With better return policies, wider opportunities for cross sales, and a huge market with far less competition, physical product sites like Amazon are thriving for affiliates. Learn how you can take advantage with Info Product Killer:


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