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Does giving a money back guarantee work?


lloydsolutions

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@capitalquality You bring up a new way of trying something. I’ve seen others mention that they add an optional requirement to gigs that says something like “If you have time, you’d help me out by telling me how you found my gig?” Some people even offer goodies in there, like “If you tell me you’ll get a free bonus.”

A twist on this, if used carefully, could be to ask other questions. For me, I would probably add only 1 option question to requirements at a time, 2 at max if my other requirements aren’t complex. You could rotate the question though and ask other survey questions like “Did/would you feel more comfortable ordering my gig with a money back guarantee? If so/not I would love to hear comments.”

This could be worded very simply, I made it more broad to explain it. I like the idea of getting personal buyer feedback other than reviews. One person I saw who posted about having a survey question said that he had occasionally gotten responses saying that just answering the question made them feel better because they knew the seller cared about their opinion.

I have thought about doing this. I already have questions for the gig requirements and I’m wary about making the process too much for people. I suppose even a couple of responses is useful though. hmm.

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  • 3 months later...

@capitalquality You bring up a new way of trying something. I’ve seen others mention that they add an optional requirement to gigs that says something like “If you have time, you’d help me out by telling me how you found my gig?” Some people even offer goodies in there, like “If you tell me you’ll get a free bonus.”

A twist on this, if used carefully, could be to ask other questions. For me, I would probably add only 1 option question to requirements at a time, 2 at max if my other requirements aren’t complex. You could rotate the question though and ask other survey questions like “Did/would you feel more comfortable ordering my gig with a money back guarantee? If so/not I would love to hear comments.”

This could be worded very simply, I made it more broad to explain it. I like the idea of getting personal buyer feedback other than reviews. One person I saw who posted about having a survey question said that he had occasionally gotten responses saying that just answering the question made them feel better because they knew the seller cared about their opinion.

I’m not surprised it didn’t work. It shows you are unsure that people will like your offer so much that you will automatically give them a refund.

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In my case it did not work. I had offered Money Back Guarantee on some of my SEO gigs, The Gig sold very well initially but later i saw that some sellers getting me back after a month or two and started demanding for Refund, although they had Got Good results, but as they did not witnessed Outstanding results so they Prefered to get their Money Back.

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In my case it did not work. I had offered Money Back Guarantee on some of my SEO gigs, The Gig sold very well initially but later i saw that some sellers getting me back after a month or two and started demanding for Refund, although they had Got Good results, but as they did not witnessed Outstanding results so they Prefered to get their Money Back.

If they mark the order as finished, or it’s automatically marked as finished by the system 72 hours after delivery, then the money-back guarantee expires. This isn’t a life-time promise, you know? They get 72 hours to make up their minds.

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For me it’s similar to the “Unlimited Free Revisions” that some people mention. (Ripe for abuse at some point.)

My sales got better after I moved to “No Free Revisions”. I have enough experience to deliver results so I don’t need to do that. I don’t say it, but frankly I’m a pro at what I sell, and results are subjective at some point.

Occasionally someone inquires about it, and I let them know I have plenty of experience to back it up. It cracks me up, most still order after they ask about it.

Nothing is perfect, but I see the MBG as fine for someone with 10 reviews, but a lack of confidence when someone has 50 or 100 reviews (or more).

Your mileage may vary.

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  • 8 months later...

I do it from time to time, for new clients. “If you don’t absolutely love it, it’s free of charge”. Of course they instantly love it, and even give me a tip. 😎

For me, this is confidence. I am so confident that I’m even telling them if I’m wrong, I lose. Plus, means I’m “putting money where my mouth is”. ✌️

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