Hello, all--brand spankin newb here. I have a question about offering a money-back guarantee. I'm considering selling some reports by direct mail. These would be pretty short and probably pricey. The target market (initially) is service professionals--CPAs, realtors, etc. The material is darned good stuff--I know it works, because I've used it myself and taught (and still teach) others to use it. My question is about returns. The material is good, so I doubt many people would return it on the basis of usefulness/quality of info. But how likely is it that a significant percentage of buyers would just photocopy it and then return it for a refund? Am I too worried about the shady types? Thanks, Mark

Well, it depends upon how you sell it.

And you could do what Gary Halbert did, and do a qualified double money back guarantee -- "simply carry out the 30 day plan. At the end of that time, if your practice income isn't up 30%, write me a quick note, and I will make sure you get double your money back."

That might eliminate freeloaders, might it not? At least to some degree.

Most people won't return stuff if their expectations were met, in any event.

From my experience you can't worry about what some shady types might do.

Put a kick ass product out there with a kick ass guarantee and watch the sales roll in. Refund those that want it and forget about them.

Make the guarantee irresistible and you will get many many times the sales that will way more than overcome the returns.

PS: I want to know what you are selling LOL

Thanks for the encouragement, all! I feel better.

Mr. Kyle: Is it typical practice to keep a list of people that make returns and screen them out of future promotions? I've actually thought of offering a small part of the report as an inexpensive stand-alone product. That, I'd hope, would increase overall response (lower price point to a non-customer list). Any returns could then be "quarantined" and not sent the offer for the more expensive product. I can't decide if it's brilliant or stupid .

Ruffneck: The info is on how to generate referrals. I developed some absolutely sick techniques when I was out selling. These days I teach them to lawyers as part of my job (Director of Marketing for a law firm). They work even for people that don't have well-developed selling skills, so I figure people will pay to learn.

Hey Mark,
You may want to consider doing a joint venture with David Rachford who markets to CPA's - he is a really good guy and I believe has a great list.

Also, I am a CA, which is the Canadian equivalent of your CPA - I might be interested in going into the Canadian market with your product. Anyway, definitely if you've got a great product, give the absolute best guarantee you can give, any losses you suffer due to returns will be miniscule compared to the bump in sales you receive. I would also give a longer period guarantee, like a year. Don't do the 90 day or 30 day thing - the CA's/CPA's will mark it in their calendar. lol

Well said.

Spending time worrying about a few "freeloaders" out there is a big waste. It's going to happen no matter what business you're in. Just grin, accept it and move on to things that can really build your business.

All great advice so far.

Also, remember that you're dealing with professionals who are probably making $75/hr or better. Are they really going to take the time to photo copy your product and return the original to scam you? No. Especially since it's obviously good enough in that case to keep a copy. The majority will see it as an investment in thir practice/business.

My 2 cents.

Wow, thanks everyone--this is great stuff. I think I've found a place to hang out

I guess my gut was telling me that it wouldn't be a problem. The idea of freeloaders stealing my stuff just sticks in my craw a bit--but I can get over that. As several have said, no use worrying--it's going to happen, but there's still plenty of money to be made.

RJ, thanks for the info and the offer. I will definitely consider once I have the product better developed.

--Mark

Hey Mark, and welcome to the forum!

I agree with the others that you need to focus on your good clients and ignore the idiots. While you can certainly flag the offenders so you don't have to deal with them in the future, if they really want your product they'll find a way to get it if it means ordering from another email address or having a family member purchase it for them.

Like the others, I'd be interested to see what you've come up with and let me know if you develop an affiliate program and want some extra help selling your products.

Cheers,

Steve