Is A Money Back Guarantee Required When Selling Products?
Do you have business questions that are stopping you from really progressing within your market? I know as my business grew I came across road blocks, big and small, that sometimes would put me behind schedule or just stump me. In this article I will answer two of those questions on creating products.
Question:
Do you have to offer a money back guarantee with your products?
Check with your merchant account for this information to make sure about their requirements regarding guarantees because some say you have to offer one and other will stipulate exactly how long they can be for.
So I would check with your merchant account. That is probably the best place to go and they will be able to point you toward the specific rules and regulations that the government has set, but your merchant account is the one that is going to be following it because they are the ones responsible for the money coming and going and that is why they are obviously following the FCC and they are up-to-date on all the FCC rules and regulations.
Customers enjoy knowing you have a guarantee offered because it adds a sense of security when purchasing something from you. Make sure you do check with your merchant account though, they will be able to tell you how long you can and cannot offer a guarantee for.
Question Two:
What kind of percentage would you say is there on thievery, such as people downloading your product then immediately asking for a refund?
Professional refunders as I like to call them are people who will buy your product, download it, then almost immediately ask for a refund. Another group of people that you have to keep your eyes open for are those that purchase your product, download it themselves, then proceed to give your information to their friends, colleagues, family members, until you have ten people accessing information from one account. If you don’t have something set up to track information like that you run the risk of it becoming a big problem.
I can see how many different IP addresses are accessing my information and stuff like that. In the beginning, I did not have that and it was hard to tell and I knew people were passing my info around but you had no way of identifying who those people are and stopping them.
Armand Morin created a product, Product Padlock, which gives you the ability to secure your digital products. Through this product you can actually see who is downloading your product, where they are downloading it from and how many times they have downloaded it.
By tracking this information you can tell if you have five completely different IP addresses downloading your information that someone is passing on their login information to other people. Product Padlock is a great resource to keep tabs on this information. There isn’t a set number or percentage that this happen, but I can tell you it does happen, no matter what type of product I sell.
Find out more answers to your product creation questions by checking out www.InstantBusinessAnswers.com
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