Refunds and Money-Back Guarantees: Should You Offer Them for Digital Products?
Mar 13, 2023Ahhh… refunds. No business owner likes to think about them. We want everybody who ever comes across our products and services to love our work SO much that they tell all their friends, then their friends buy from us, too, and their friends’ friends… and onward until the whole world is infatuated with the work of our hands and hearts.
That’s the dream, right?
Well, reality is a little different. For whatever reason (and there are many), no one product or service is going to be the right fit for every customer. Therefore, dissatisfied buyers will be part of the deal. As an online content seller, you should expect to face requests for refunds.
How are you going to handle them?
Should you offer refunds for digital products? What are the advantages and disadvantages of a generous return policy, and when is it appropriate to offer one (or not)?
If you’re selling downloadable products, online courses or memberships, live training events, or coaching programs, money-back guarantees and refunds are a factor you’ll need to consider as a part of your overall business plan. The good news is, there’s no right or wrong answer. The choice is yours.
In today’s episode of The Inspired Business Podcast, we’re spelling out the reasons it can benefit your business to provide refunds and guarantees, as well as the reasons you might want to consider saying no to refunds. This episode will help you make an informed decision about whether or not to guarantee your digital products or services with a refund policy.
Check it out HERE.
Wondering HOW to go about choosing, creating, and selling a digital product?
Check out my free masterclass:
How to Create and Sell Digital Products (without feeling stupid, salesy, or sacrilegious).
