How to Reduce Your Refund Rates | Ep. #763

Nomzy Stholly

5 min

Investing & Markets

Description

In episode #763, Eric and Neil discuss how you can reduce refund rates. Tune in to hear how you can provide better service to avoid refund rates. TIME-STAMPED SHOW NOTES: <ul> <li>[00:27] Today’s Topic: How to Reduce Your Refund Rates</li> <li>[00:35] First, understand why people are asking for refunds.</li> <li>[00:58] When someone wants a refund, ask them why.</li> <li>[01:11] Whether that is an email or a survey, the info will be helpful.</li> <li>[01:27] Once you have about 50 answers, you will probably start to see a pattern.</li> <li>[01:45] <a href= "https://jumpcut.com/">Jump Cut</a> has an action-based guarantee. They will refund if the customer proves they went through the entire online course they offer.</li> <li>[02:20] Their refund rate dropped to 5%.</li> <li>[02:42] Expand your refund period. The longer it drags out, the fewer refunds you will have.</li> <li>[03:01] Adjust your pricing.</li> <li>[03:25] Offer to drop the price instead of refunding.</li> <li>[03:47] When you do that, customers like and respect you more.</li> <li>[04:10] Offer products and services for a limited or set period of time.</li> <li>[04:59] That’s it for today!</li> <li>[05:03] Go to <a href= "http://www.singlegrain.com/giveaway">Singlegrain.com/Giveway</

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Episodes

How to Reduce Your Refund Rates | Ep. #763

Nomzy Stholly

5:56