Why you should never buy anything on the web without a
money-back guarantee
Copyright 2006 John Piper
The influence of the web is far-reaching and ever growing. It is
changing the way we think and the way we do things. Never more
so than in how we shop. Every day billions of dollars changes
hands as people buy what they want on the web. A few short years
ago this was not possible. But the web also means that some
products can be delivered by digital download at zero cost.
In the past a big argument against money back guarantees was
cost - it was considered to be too expensive. Business is all
about making money and if we are to consider this issue properly
we must look at both points of view.
The businessman, or woman, is generally in business to make
money and most decisions are taken on that basis. This is not to
say that many business people do not also believe strongly in
their product and in the value that product brings to society.
But a full "no questions asked" money back guarantee can be good
for business because: 1. The business is showing it has
confidence in its products and this will help sell more. 2. The
business is putting its money where its mouth is which will
again help sell more. 3. Such a guarantee shows a depth of
sincerity and a continued interest in the worth of the product
beyond the point of sale.
On the other side of the coin you get the worry that customers
will engage in "digital theft" and will rip you off. Well, guess
what - they will! But only very few, much, much less than you
might imagine, and the ones that rip you off are the losers not
the business.
The business does not lose because it will sell more product
even after any refund claims. Those who abuse the situation
would never have paid anyway so there is no loss of revenue
there - and these people are the losers because of the way they
live their lives. This needs further explanation. We live in a
society where trust and reputation are important. We also live
in a society of abundance and where virtually anything is
possible. It is my experience that if you trust people they
reward that trust. But I do not give a person that many chances.
If my trust is abused it is not given again. The person who has
abused trust loses his reputation and doors start to close -
this is why he is the loser. I have been involved in marketing,
and later Internet marketing, since 1989 and I have always
offered a full money back guarantee. I have had very few takers!
This confirms my faith in my products and confirms that I make
more money by giving that guarantee.
Let me give you an example. I recently came across a "quit
smoking" product. It is expensive but comes with a full money
back guarantee - if it does not work you get your money back.
Now, this is cut and dried. If it works you pay your money and
save a fortune as you no longer have to buy cigarettes and you
also get massive health benefits.
If it doesn't work you get your money back. To me that is the
Internet in action!