Let’s face it – the world of e commerce is huge! While it can be a great playground for you to promote your products or services, there is a great deal of competition. One of the many things that consumers are looking for are excellent warranties and refunds before they commit to any purchase. They want to know that they won’t be losing out on money if they buy what you offer.
The quality of any given product or service a person finds online can range in quality from very poor to extremely good. Yet a person generally doesn’t what to just leap into the purchase and hope for the best. They want some type of reassurance that the money they invest is going to offer them an excellent return. Most consumers get to this method of thinking after they have been let down by a previous online purchase.
By offering consumers a great warranty or refund though you are telling them that you proudly stand behind what you offer. With a warranty, you are telling them that they are able to get a replacement or a refund within a specific frame of time. The longer you can extend that warranty the more enticed the will become about making the purchase.
Try to offer a warranty of at least one year. However, it really comes down to evaluating what you have to offer them. Try to explore what type of warranties your competitors offer. At the very least you should be matching it but do your best to exceed it. Some businesses are able to offer a lifetime warranty on their products and it doesn’t get any better than that from the customers point of view.
With refunds, you are expressing to the customer that if they aren’t 100 satisfied with the purchase they can get their money back. It should be a hassle free, no questions asked type of refund. Make sure the specific time frame for it is in place – but the more time you offer them the better off you will be.
Some people are worried that they will never make any money offering such a refund policy. However, the exact opposite is true. There is a very small percentage of consumers out there that will actually ask you for a refund. The fact that one is offered though is often the icing on the cake for someone sitting on the fence contemplating that purchase.
The longer refund timeframe you can offer someone, the less likely it will be that they do contact you for a refund. For example if you only offer them 30 days the purchase is still fresh in their mind. They are going to fill rushed to explore your product to determine if they want to use it or not.
If they run out of time they may send it back for a refund so that they don’t miss out on the opportunity to do so. Now, let’s say you offer a refund period of 120 days. This gives the customers significantly more time to explore the product without having to do it right away. As a result you will get fewer requests for a refund.
Regardless of the warranties and refunds that you offer, make sure those guidelines are clear. There should be no questions in the minds of consumers about what types of guarantees you offer them. If the refund they could get is less the shipping and handling price then make sure that is clearly stated. You never want anyone to feel that you didn’t hold up your end of the bargain in this department.
Author Resource:
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