Bloggeron

I have a new product coming out that consists of training on how to close short sales. I have a recorded interview, step-by-step plans, and transcripts. What should my return policy be? Should it be 30 days unconditional and they can keep the CD?

Answer: I don’t use a 30 day refund policy because 30 days is too short. However, note that when you are signing up for a merchant account you have to tell them your refund policy will be 30 days or less. That is the only way they will approve you.

But as Internet marketers, 30 days is too short. Why? The longer refund period you have the less returns you will have. If you give a short refund period of only 30 days then people will remember it and write it down on their calendar. They might not use the product within 30 days and will return it because of this lack of time.

If you give them a longer refund period then it gives them a longer time to consume it. I would highly recommend a 60 day or longer guarantee. This will increase your sales and minimize the number of refunds.

Think about it. How many products have you purchased that had a long refund policy? You probably figured you had plenty of time to use the product so you didn’t worry about writing down the refund period date. When you finally used the product you had already passed the refund period. As an Internet business this long refund period is to your advantage.

It’s your choice on whether or not you want a 30 or 60 day guarantee. You also have to choose whether or not the customers have to send the product back to you. I make this decision based on the price point of the product. For example, if the product is a high ticket item that has a lot of stuff that goes with it, like a home study course, then I make people ship it back to me.

I make people send stuff back for a few reasons. Why? In the past, I have had customers send back a home study course and I found a slip from Kinko’s that showed how much it cost them to copy it. If this happens then I will contest the refund because they blatantly copied my product and then wanted a refund. Plus, if you make people work more to get the refund then they are less likely to ask for the refund in the first place.

With my couple thousand dollar home study course I make people send it back to me in the mail so I can examine it and then give them a refund. Usually the extra work prevents them from asking for the refund.