Tuesday, November 30, 2010

Slash Refunds Like Jack The Ripper

G'day friend,

This is a two-part lesson.

See, this sits on the fence between two important subjects. Two things you must know about if you're entering the entrepreneurial world.

Marketing and copywriting.

Marketing is your company. Period. It's how you advertise, it's your website, your store front, the names/titles of your employees, the little outfits you put them in, the name of your company, how you consistently acquire new customers every day, month, or year... It's how you position yourself, your product (both physically and in the mind of your customer), your customer service, the condition of your store, etc.

If someone says they don't do marketing...

They're Either Ignorant Or Lying Through Their Teeth!

My view is this: marketing is every point in time when your company touches your customer or prospect.

The problem is, some people are marketing and don't know how to market. Admittedly, you can still be successful not "knowing" how to market. But life sure becomes much, much more difficult.

However, if you have a system in place for marketing... if you know what you're doing to maximize your sales or optimize every interaction with that customer... Bingo!

Here is where copywriting comes in...

I don't much care for the title "copywriter" or "copywriting." Everyone confuses it for copyrighting and things you're trying to patent something.

It also says nothing, honestly. Only people in the advertising world - students of the craft - know what 'copy' is.

So, let's use something you might understand better: sales writing.

Better?

OK, moving forward.

Sales writing is the written material you use to sell prospects.

When you see writing in ads (which is becoming increasingly rare, as advertisers become increasingly worse), that's sales writing, or 'copy.'

Now, when you realize these materials are sales pieces - they're made to sell the reader on buying your widget... It really makes you think.

Would a good salesman say...

"Dr. John Crawford, MD - 29th TerribAd Ln. East, Suite #4B City, State, ######. We'll fix you."

Only if he wanted to get thrown out through the window (assuming he got in).

Sales writing is pretty much all the writing used to convince the reader into purchasing or whatever action you desire from them.

Marketing is every interaction you have with the prospect/customer. Sales Writing, or copywriting, is the content of those interactions.

OK, now you understand those two things. And so, we can get to the major point of this blog which is...

"How To Reduce Your Refund Rates Dramatically With A Simple Letter"

I'm sure you've heard of Buyer's Remorse. Every business owner says this with a groan and a sigh. And for good reason, in most cases.

Why?

Because buyer's remorse is a catalyst for refunds.

Now first, I'll say this: just about every business will have a share of refunds.

But you should never let your refund rate become extraordinarily high. And so today, I'm going to show you a single, simple strategy that has cut refund rates in half.

Are you ready?

It's...

A letter. A stick letter, to be correct.

Whazzat?

A stick letter, my friend, is a device to destroy buyer's remorse.

Imagine this...

You just bought The Ultima Widget. Ultimate Widget was not cheap, but the copy made it sound like the greatest thing since sliced bread. And not only that, but the market positioning of the creator and the guarantee made it feel like a steal. You know you can trust this person.

But your family - the way you were raised - always made the spending of money a less than appetizing thing. I mean, do you really need some $200 book/course/DVD? You can find something simpler for less on Amazon, at Barnes and Nobles. Whatever.

All of the sudden... you receive a letter in the mail. Or a phone call.

We'll say phone call.

The person on the other end of the line has a warm, rich voice... like honey. She says to you, "Mr. Customer, thank you so much for investing in this program. I know you'll be absolutely satisfied. And remember, in this book/dvd/whatever you're going to learn... Also, you have 90 days after receiving this system to let us prove ourselves to you. If the product has not fulfilled its promises, you can always ask for a 100% refund of your investment."

(That can be translated into a letter that is expedited to arrive before the product, a letter that arrives with the product, a phone call, an email, etc).

Wow. Feel better not, don't you? Yeah, you invested that money, but if it doesn't pay out... well, you can return it! And how could you have forgotten all that awesome stuff you'll learn when you receive it? And how nice of them to get in contact with me and remind me.

You can use this technique to slash refund rates, increase customer satisfaction... among many things. I've heard of them being used to upsell and generate referrals.

For you though, just stick to them being thank you letters.

By the way, feel free to shoot me an email at a.r.suarez3@gmail.com with "Sample Thank You" in the subject line. I'll send you a "Thank You" or "Stick letter" I used for my own carpet cleaning company that you can model.

Over and Out,

Angel Suarez

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