Sometimes…
I used to be a big fan of the “no refunds” idea. And in some ways, I still am.
But I’ve been rethinking it, and as a result, I may be making some changes soon.
No Refunds is great for things like an investing product. Something where you get the whole portfolio up front.
It makes sense as a way to exude exclusivity.
To weed out unqualified buyers.
And to get people to commit, up front, that they’re someone who is serious about this.
But for cheaper products, or even monthly subscriptions, offering a refund can make more sense.
It has been shown to increase sales, and not all of those new sales later demand a refund.
But it also lets less serious or committed people in.
This is good if you can win them over once they buy. If you want to spend your time doing this.
Again, depends what you’re selling and how well it holds up to scrutiny.
But know that a few people, no matter what, WILL take advantage of you. Try to get something for free.
Accept this and move forward accordingly.
Try it out and see how it affects sales.
And if you have any interesting results to share, just reply to this email.
— Mark
