Refunds can be a scary thing for small businesses. Offering guarantees and refunds can sometimes mean that a small business has a day of negative revenue or sales. But we need to rethink refunds and look at how they can actually positively affect our businesses.
Not long ago, I signed up for a paid subscription to a large publication. After a few weeks with my subscription, I realized that their content wasn’t as valuable to me as I had thought it would, so I decided to cancel my subscription.
Over a week later and multiple attempts, I finally reached a customer service representative to cancel my subscription. Unfortunately, I still had to endure a long list of questions from the customer service representative about why I wanted to cancel.
The experience was long, drawn-out, and frustrating.
I will never subscribe to a publication from this company again. And this point is why I say we need to rethink refunds.
If my cancellation process had been easy or at least not as frustrating as it was, I would be open to subscribing again in the future. But because of this companies reluctance to satisfy my choices as a customer, they have lost me for life.
Do you offer refunds or cancellations for your services or merchandise? If not, perhaps it would be helpful to consider that you may be retaining a prospective customer instead of permanently losing one by offering these services.
Food for thought, right?
Do you agree or have a refund experience to share? Let me know in the comments.