If you want to increase your sales, don’t make buying from your company a risky proposition. Here are a few reasons to offer a money back guarantee on anything you offer through your website.
1. Increase Trust
Unless you sell something that is very popular and well-known, it’s likely that most customers don’t know whether to trust the claims made on your web pages regarding its value. High-priced products present even more of a challenge.
Why should a consumer spend their hard-earned money an item without any assurance of its usefulness or entertainment value? By offering a money back guarantee, you are standing behind the product and setting your customers’ minds at ease.
2. Competition
Chances are that your online competitors don’t offer a money back guarantee. Then again, if you are competing against big box retailers, this is probably part of the company’s standard return policy. In either instance, it just makes sense to provide a full refund in case of dissatisfaction.
3. The Sales Pitch
A money back guarantee is a great bonus to mention in your sales copy. When consumers know it will be easy to return a product or ask for a refund on a service they received, they are more apt to make a purchase. It alleviates any worries and could be the final push that entices them to buy.
4. Good Business
Anyone who sells anything knows that one dissatisfied customer can produce a whole boatload of trouble. If you don’t offer a full refund, chances are that a customer who is unhappy will become truly irate. These days, posting a complaint online for millions of viewers to read is as easy as filling out a form on a web page, it’s far too detrimental to let dissatisfied customers go about their way. Do what you have to please them; refund their money and offer them an incentive to do business with your company in the future.
5. Human Nature
You may be worried about the risk of offering a money back guarantee. We all know there is a small percentage of the population in general that spends their time doing nothing more than trying to get something for nothing. Offering a guarantee on your products or services is not going to change this fact.
Moreover, the majority of consumers considers it too much of a hassle to return something or ask for a refund. Odds are with you. It is unlikely you are going to go out of business just because you guarantee your offerings.
A money back guarantee is part of good customer service. It develops trust, allows you to compete on a level playing field, and can often serve as that final incentive that makes someone pull out their credit card. The cost of not offering a no-questions-asked refund could be much higher than instituting this policy across the board.
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