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:
[00:27] Today’s Topic:  How to Reduce Your Refund Rates
[00:35] First, understand why people are asking for refunds.
[00:58] When someone wants a refund, ask them why.
[01:11] Whether that is an email or a survey, the info will be helpful.
[01:27] Once you have about 50 answers, you will probably start to see a pattern.
[01:45] Jump Cut has an action-based guarantee. They will refund if the customer proves they went through the entire online course they offer.
[02:20] Their refund rate dropped to 5%.
[02:42] Expand your refund period. The longer it drags out, the fewer refunds you will have.
[03:01] Adjust your pricing.
[03:25] Offer to drop the price instead of refunding.
[03:47] When you do that, customers like and respect you more.
[04:10] Offer products and services for a limited or set period of time.
[04:59] That’s it for today!
[05:03] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu





Learn more about your ad choices. Visit megaphone.fm/adchoices

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</a> for a special marketing tool giveaway!</li> </ul> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul>   Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

Neil Patel and Eric Siu bring you daily ACTIONABLE digital marketing lessons that they've learned through years of being in the trenches. Whether you have a new website or you're an established business, you'll learn the latest SEO, content marketing, social media, email marketing, conversion optimization and general online marketing strategies that work today from people that actually practice marketing and operate businesses.
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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:  [00:27] Today’s Topic:  How to Reduce Your Refund Rates [00:35] First,...

How to Reduce Your Refund Rates | Ep. #763

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