After several conversations with clients and others, I decided
that I needed to address the topic of refunds. I’d like to hit
on a few areas that apply to sellers and re-sellers….
In part 1, I’d like to talk to re-sellers/affiliates. This should help
you vet who you promote for in the future.
Despite what you’ve been told, or what you hear, REFUND
RATES ARE NOT GOING UP! Yes the economy is bad,
yes people are harder to sell to, yes getting a refund is easier
then ever before…but rates are NOT GOING UP*.
Now you probably saw the little * on my statement above…
Let me clear that up:
Rates are not going up on GOOD PRODUCTS w/GOOD MARKETING PRACTICES
Here are two real life examples from current clients:
TradingConceptsInc.com: OptionsMD Product LESS THEN 2% REFUND RATE
RockwellTrading.com: The Ultimate Day Trading System LESS THEN 8% REFUND RATE
Here’s what’s happening, ready to have your mind blown??…
People are getting smarter!
?Companies are promising their customers the moon, and when 99%
of customers can’t achieve those results, they bail.
Customers now,more then ever, are being promised the moon
with guarantee’s that simply cannot be achieved by 99% of
your customer base…therefore they’re bailing!
Ask yourself this; “Of the previous promotions I’ve pushed
where the marketing was right on the edge, how many refunds
came through?” You might get sick when you actually see the number.
Customers still buy the hyped stuff, but refund a LOT more as
(SHOCKINGLY) the claims aren’t able to be replicated…
Which ultimatly HURTS and reflects VERY badly on YOU!
The above refund rates are not just with my clients (although those
rates are SUPER low). The key is quality products, high value, and
honesty up front. It could be argued that money is being left on the
table by not pushing that limit harder…but what about sales down
the road to a customer that’s already bought?!
Second point I’d like to make regarding refunds…
OptionsMD is run by Doc Severson who’s almost annoyingly??? involved
in customer support that begins as soon as a customer purchases. With
the automation of almost everything now-a-days, that old fashioned ability
to talk to the expert REALLY sticks in people’s minds.
We’re relaunching OptionsMD starting Feb 21st and to prepare to BEAT
our 2% refund rate, we’ve actually had Doc clear his personal schedule
and we tried to talk him into sending his wife on vacation so he would
be able to be READY for all customer issues and questions. It’s that extra
step that keeps customers on board when they buy the course.
(are you an affiliate or want to check it out? Visit here and email me)
You hopefully know Markus Heitkoetter by now, but if not you’ll
quickly learn that as the name/face/mind behind his product he
prides himself on being readily available to customers AND his
Rockwelltrading.com has a highly trained team that understands
refunds happen, but that they also can be AVOIDED with good customer
service and having experts able to answer any and all questions. We had
an affiliate push our ebook offer this past month, and there were several
very personal questions that were sent to the affiliate, that were then
forwarded to us…
MARKUS ANSWERED THEM ALL!
I’m talking about 20min+ per email for someone that TOOK A FREE OFFER!
Who does that???
Someone with less then 8% refunds, that’s who.
So how do YOU as an affiliate deal with this? 3 ways
1. Review the product that’s being pushed.
If you have time, see what the product is all about. And if
you really want to help your leads/visitors, test out the
customer service claims (if any).
2. Review the MARKETING MATERIAL!
Most times companies will share material with you before
they launch, or begin to market. This is where you should
have your BS detector on FULL POWER. You’re probably
a trader or know enough to know what’s realistic…apply
that to what you promote.
3. Ask company AND other affiliates for feedback on #’s.
Companies you know/trust will tell you up front the good or
the bad…but you’ve gotta trust them. If you don’t know the
affiliate person/company, then ask other affiliates that promoted
or ASK THE COMPANY FOR OTHER AFFILIATES THAT PROMOTED!
If you ask me about the numbers, I hope you can trust me, but I’m
never prideful enough to not think you need more sources…so just ask.
Again this is just my 2 cents on the matter…LET ME KNOW WHAT YOU THINK!
Love reading the comments and debating points if necessary.
Until next time…
P.S. This PS is a direct pitch for you to become an affiliate partner for my clients 🙂