MBA2220 Q&A Wednesday: Should I extend my refund policy from 30 to 90 days?
How long is too long to request a refund?
It’s an important question, especially for small businesses. To grow, you have to be able to rely on steady, predictable revenue. And revenue that suddenly reverses can throw your metrics out of whack.
But on the other hand…
Risk reversal is one of the most powerful selling tools you have. When customers feel like they’re truly guaranteed satisfaction, you earn trust. And trust means sales. Every day a customer knows they can change their mind equals a little peace of mind.
It’s Q&A Wednesday, and we’ve got a listener who sells online courses with a 30-day guarantee. But is that enough? More importantly, would pushing it to 60 or 90 days be a net positive for the business, or a risk that’s just not worth taking?
Hear our advice, and ask yourself if it’s time to give your customers a little more leeway. Click Play!
To submit your questions, visit 100mba.net/q.
SUBSCRIBE
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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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How long is too long to request a refund?
It’s an important question, especially for small businesses. To grow, you have to be able to rely on steady, predictable revenue. And revenue that suddenly reverses can throw your metrics out of whack.
But on the other hand…
Risk reversal is one of the most powerful selling tools you have. When customers feel like they’re truly guaranteed satisfaction, you earn trust. And trust means sales. Every day a customer knows they can change their mind equals a little peace of mind.
It’s Q&A Wednesday, and we’ve got a listener who sells online courses with a 30-day guarantee. But is that enough? More importantly, would pushing it to 60 or 90 days be a net positive for the business, or a risk that’s just not worth taking?
Hear our advice, and ask yourself if it’s time to give your customers a little more leeway. Click Play!
To submit your questions, visit 100mba.net/q.
SUBSCRIBE
YouTube | Apple Podcast | Spotify | Podcast Feed
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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