Top 3 Reasons Why We Can Afford To Hand out A Money-Back Guarantee
If there’s anything that completely weakens someone new or struggling in business, it has to hand back money to someone who wants a refund. Adding insult to injury, you have already given your maximum best to them and yet, they still want their money back.
You worked hard and now you have to try to make money return that you no longer have.
It’s the kind of thing that makes you give up guarantees. “You pay me; I got your money; that’s the end of the story.”
Unfortunately, that kind of attitude makes it difficult for people to want to give you their money in the first place. At the very least, it makes for a very unfriendly environment.
Hardly Anyone Requests a Refund
It is just occasional that people ask for a refund and it bites when it happens but luckily it hardly ever does, and here’s why.
When someone becomes your customer, they are rooting for you to be excellent. In making important purchases, they have spent a huge amount of money and mental energy in you—they have joined your team.
In the event things that don’t go seamlessly, they really don’t want their money. What they want are results you offered. They want to feel good about their pick. They’d much rather you made things right than cause them to the ultimate last option, which is the refund.
Dishonest business people exploit this by making it really hard expressively to ask for their money back. For you as a heart-centered person, it just means that you can take a breath knowing why refunds are so uncommon, and that if something does go south with a customer, you will have many opportunities to make it right before you have to dig into your bank account.
Here are the top 3 reasons why we can afford to hand out a money-back guarantee:
- It eliminates one huge barrier to buy from a customer’s mind. It makes purchasing your product a risk free proposition for them. This is a very good thing. In the end, if they don’t like it that they can get their money back.
- It helps build customer trust. Perhaps the most crucial thing a company or brand can possess. Without your customers’ trust, your company is lost.
- It is aninfluential statement about the quality of your business, products or services. It says you are so poised, customers will love your business, products or services, and youwill give them their money back if they don’t.