What I am about to give you is a proven strategy for you to use when you need to know how to handle refunds. This came up during a Q&A session during a live stream workshop I held with several 7-figure business owners.
Since the coronavirus outbreak, the economy has taken a serious turn. Now we have a situation where less money is being circulated and people are re-thinking how they spend it. Naturally, this means that several business owners will have an influx of refund requests.
Here is my answer for the best way you can gain a serious win out of a refund request so that you never lose a customer again!
Watch This On How To Handle Refunds
3 Big Takeaways On How To Handle Refunds
1. Provide More Services To Customers
Just because you were hired to do one thing does not mean that your customers do not want more. Talk to them and find out if there is anything else you can do for them. You might have to charge a different rate and that’s okay. The point is to keep the customer happy. Once the economy levels off they could be inclined to restart the original service you provided for them.
2. Collect Testimonials
Sometimes your customers might just be in a really hard situation. If there is no other option for you to keep them then testimonials are the next best thing. Especially if they have to leave purely because of money they may feel inclined to give you something. The only thing better than getting a testimonial from them in this situation is having them refer a potential new customer in the process. Testimonials plus referrals make for an extremely easy sale!
3. Use Testimonials To Make More Sales
The point of getting those testimonials is to show them off and generate more sales. One testimonial can bring you three new sales. If you follow through with the sales process I laid out in the workshop you can make easy money this way. This is how to make a win-win scenario out of giving a refund. On top of that, you can still keep in touch with that former customer and bring them back on once the economy levels out.
Now the question is this:
How do I turn a single testimonial into 3 sales?
You can find that answer for free by watching my live stream workshop! The strategies I give out in this workshop are exactly what you need to watch your business run itself and enjoy having the financial freedom to plan your next adventure!
“This is the question, how do I handle someone who is basically like I’m just want to get a refund?
In any of those situations, I’d say no problem whatsoever. Seeing how we’ve had a good relationship for a long time. Do you mind getting on the phone so we can talk about it?
Once you get on the phone, listen to what they have to say and then ask them if there is any service that you provide or can provide that you think they might be interested in.
You’ll be surprised at how often you can turn it into a sale for a different product.
You are going to lose some customers, but if you’re going to lose them, trade them for a testimonial.
The way you should think about it is that one good testimonial will often turn into one story for three sales.
So if every customer that leaves give you a testimonial for how happy they are, especially the ones that are leaving because they are like worried about money.
They’ll usually have guilt and they’ll happily trade that guilt for a testimonial.
That testimonial you can trade for sale and then it essentially replaces itself over time.”