One of the things that probably annoys vendors online more than anything is buyers remorse, that is those people who buy all and sundry on their credit/debit card then realise they can’t afford it and promptly demand a refund. I’m not talking about serial refunders here, just those folks who genuinely can’t afford what they’ve bought then panic.
I have to say at this point, I don’t have a problem with people wanting a refund if the product they have bought from me doesn’t suit their needs, after all, that’s why we offer a money back guarantee and I certainly don’t want folks to buy my stuff if they are using their rent or grocery money. I’m also not talking about those who try it out and decide it’s not for them, (don’t have a problem with that either)..
It’s not even the hassle of having to login, find transaction ID’s (folks rarely send them in for some weird reason when requesting a refund), I just wish people would think twice before they buy something. online then promptly regret doing so…
What bothers me is the negative effect it can have on your paypal/clickbank or whatever payment processor you are using.
3rd party payment processors don’t like refunds and if you start to get a lot they get antsy which can often lead to accounts being limited or even terminated. (It’s every marketer’s nightmare), and to be honest it’s one of the big reasons why I don’t like hype when selling anything online.
Yes it’s lovely getting all those paypal payments dropping into your inbox but those tickets requesting a refund mainly because customers fell for the spin you created can be pretty daunting and why I don’t like to use a lot of hype or spin on my sales pages.
So I thought I’d look at a few ways and means of reducing future refunds from prospective customers.
Don’t hype up your product, I know a lot of marketer’s don’t agree with me here, many of them rely on folks buying then forgetting they bought, I know many folks have a ton of stuff on their harddrive they intended to use at some point, (most of us do)! I’ve had a number of customers who bought EMP years ago email me and ask if their unused licenses are still valid. (they are BTW)
Don’t offer a solution in a box or push button solutions (They don’t really exist), IM is hard work and I like to emphasize whenever it’s possible this is so. Nothing wrong though in saying your solution will make life easier if it does so, a recent example of a product I think is fantastic and will save folks oodles of money was VideoFX
Don’t fall for the hype and spin, read through the lines and for heavens sake don’t be drawn in by the bombardment of emails you’ve had from various marketers about a specific product
Having said the above, a lot of affiliate marketers offer some excellent bonuses if you buy through their link, I’ve even found in the past that it was worth buying something just to receive specific bonuses. But the caveat here is will you ever use those bonuses or will they just sit and clog up your hard drive. Don’t go for them if they are just shiny objects.
Before you click that buy button, read the sales page/watch the video carefully then get up and make yourself a cup of tea/coffee etc whilst you mull it over. You’ll find the buying frenzy you’ve been worked up will have dissipated somewhat and you can be a lot more objective as to whether you need it or not.
Don’t have your credit/debit card too close to you when sat at the computer though I guess that’s not much use if it’s a paypal transaction 🙁
Above all think my favorite mantra
Do I need it or just want it
Can I afford it
Is it essential to forwarding my business.
I’d love to hear anyone elses thoughts on how to avoid buyer’s remorse…