It doesn’t really matter how much a person loves their job, I bet everyone dreams about owning business. If you are tired of being an employee and want finally start working as an employer, if you have lots of business ideas and dreaming about making them come true, this article is exactly what you need.
Starting business requires lot of preparations and serous considerations. You have to think about what business you want, what people you will hire and lots of other things. Sure, you will have to create fair refund policy to attract more customers. Many companies have lost their clients due to bad Refund policy or cases of not following Refund policy rules.
So, what are the ways of creating Refund policy that will meet consumers’ needs and bring profit to a business owner?
Any professional expert will recommend a Refund policy that provides 100% money back or 100% satisfaction. In this case consumers will take you as a reliable and decent service/product provider. If you are sure in what you do, why not to promise 100% satisfaction? Make solving any customer’s issue (even if it includes refund) your rule.
When putting together your budget, make a category named “Customer Satisfaction Costs.” This is an expense category that includes money you spend to make customers happy. Make sure this is not more than 1-2% from your sales. Sure, you will have bad consumers who want to have everything for nothing. So in order to save your money think twice whether this particular customer deserves your encouragement.
Always keep an eye on this “Customer Satisfaction Costs” column. If you see that refunding costs you more than 2% of your sales, it’s time to change the plan. If refunds become frequent, this is the very time to think about mistakes you make. Ask customers about things they don’t like, thank customers who are not afraid of showing their dissatisfaction. Never give up efforts to find out what happened. Only continuous communication with customers will help you to achieve success.
Avoid making customer “wrong”. Customer is always right, and entrepreneurs who follow this rule are successful in their business. Try to solve all the issues softly and with the smallest losses.
One of the best responses to a consumer’s complaint is “Our intent is to create a product (or service) of exceptional value. I apologize that we’ve failed to do so in this situation. What will it take to make this better for you?” Thus, you show consumer that you care about him.
Anyway, decision about refund depends on you. But, in my humble opinion, refund guarantee is something like magic beacon that attracts customer and makes them think you are a reliable person to deal with.
And, by the way, remember that you don’t have to meet all consumers’ requirements. You just have to be able to come to terms.