Refund Policy for a 'Subscription' (Full Version)

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pmagas -> Refund Policy for a 'Subscription' (8/5/2004 17:03:36)

We've been providing a service free of charge for well over a year now and it's fairly popular, but we need to get it to generate some revenue.

We prepare a weekly report of available investment properties for our subscribed customers and email them a link to the report (currently in pdf format.) We've decided to charge for this service - I'll be putting it behind a Spooky Login and using PayPal to collect the funds. (For customers who are willing to sign an Exclusive Buyer's Agency agreement, the fee will be waived.)

As I prepare the files, process, etc. it occurs to me we should display a refund policy. Because this is a report for real estate investors, there may be some people who use it once, find the information they're looking for, buy a property and not come back to it again. (Sadly, there appear to be a fair number of people who use our service but don't buy their property through us. [:@] ) Basically, the fees should be considered earned once they receive the first report. However, that seems a bit harsh. If someone looks at it once (maybe twice?) and sees no value to it, I wonder if we shouldn't refund their money. So should I suggest a time limit for refunds? Or give them a 'sample' of the report up front and tell them there are no refunds?

Can anyone offer suggestions and/or tell me their experience or even suggest a 'standard' refund policy? Thanks for all your help!!

Regards,
Penny



dpf -> RE: Refund Policy for a 'Subscription' (8/5/2004 19:50:07)

quote:

Or give them a 'sample' of the report up front and tell them there are no refunds?

how long a period of time are they subscribing for? Personally, I wouldnt offer a reffund - period. If you subscribe to a magazine and dont like the first issue, can you get a refund? of course not. post on old report as a sample so they know what they are getting. and for short term users, maybe something like this:
if your normal subscription is one year and you charge x, offer a 3 month for 1/2 x or even 2/3x.



pmagas -> RE: Refund Policy for a 'Subscription' (8/5/2004 20:37:32)

We think 6 months for the subscription. I tend to agree with you - no refunds - period. I'm going to put up a 'sample' that will be just like the real thing (all the features & pix, etc) but with fictitious data. That way they'll know exactly what they'll be getting.. I think you're right about no refunds - if they find a property and buy it through someone else, they shouldn't get a refund! The whole idea is that they should buy through us. Now if they DO buy through us, we'll give them a refund. Maybe we should include that? If they purchase, we'll credit them the cost of their subscription at closing as if it were a retainer.... Maybe that will encourage them to buy through us! Thanks, Dan - I appreciate the input very much!



dpf -> RE: Refund Policy for a 'Subscription' (8/5/2004 20:38:36)

quote:

we'll credit them the cost of their subscription at closing as if it were a retainer....

excellent..and no refunds..lol



Reflect -> RE: Refund Policy for a 'Subscription' (8/6/2004 8:17:34)

I would run with what Dan stated. I would not present mock data. I would post an older report. I wold also state the date of that report. That way they see the true value and are not left guessing period.

Take care,

Brian



pmagas -> RE: Refund Policy for a 'Subscription' (8/6/2004 10:56:06)

Thanks, Brian. I like your idea but I'll have to check with my Broker about the old data. When a property is no longer on the market I don't know if we can display that data - hopefully I'm mistaken. Thanks so much for the input!



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