Is Your Refund Rate High? Congratulations!
Wow, it’s been too long since my last post! While I’ have been a little lazy on the blog here, I’ve still been busy learning.
I’ve been reading, watching video, listening to audios, and checking out (spying on) what other marketers are doing.
In one video I watched that was of a copywriter giving a sales page copywriting critique, the presenter was talking about “refund rates”.
And something that made my ears perk up was when he said something like
“If you’ve got a low refund rate, you’re sales copy is not aggressive enough.”
Weird huh? Now naturally, we’d think that low refunds are better for our business.
But his point was that if our copy doesn’t create a mad buying frenzy, then it’s too weak.
So I’m not saying hype up your copy for a crap product to the point that you get 100% refund rates.
You product needs to deliver but what your copy needs is to do is get more people excited and take action now. No matter what, a percentage of people are going to ask for a refund anyway.
But what more aggressive copy is going to do is increase sales conversions which is a good thing but the negative will be that it will lead to more refunds.You’ve just got to make sure the proportion of refunds is not going to result in a loss of profits overall.
If you can crank up your sales conversions by 2% which increases your refunds by 1%, you are still 1% ahead.
Just something to think about if you’re currently getting low refunds and thinking you’re doing a great job.
There is always room for improvement. So get out there and start selling like a maniac!
Stuart “Sensei” Stirling
p.s. Agree? Disagree? Leave your comment below.