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Episode Notes
Today host Julie Hood talks about refunds and some of the decisions you’ll need to make around your guarantee and refund policies to maximize your course revenue.
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KEY TAKEAWAYS FOR ONLINE COURSE CREATORS
Your refund and guarantee policy can definitely impact how many sales you make – especially for people who are on the fence.
Standard advice is that a 365-day refund period is the most likely to help you get more sales. However, there are some downsides.
As the course business owner, you get to decide!
When putting together your policy, answer these 5 questions:
- Does your course hosting or tools have a specific refund policy?
- Are you subject to any other legal requirements?
- Are you a “no questions asked” refund?
- Will you require some proof of work completed to refund?
- How will they get their refund?
For the next few weeks, read guarantees and see which ones you like or don’t like!
Also, don’t take refund excuses personally – or too seriously – unless you get a bunch of them.
Remember, refunds are simply a cost of doing business – similar to paying for your tools or your website hosting.
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