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pmagas
Posts: 367
Joined: 3/26/2002
From: St. Louis MO USA
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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
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Penny
humble webmaster of
We Sell St. Louis
http://www.WeSellStLouis.com
http://www.MarkSellsStLouis.net
http://www.St-Louis-Mo.info
http://www.NealSellsStLouis.com
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dpf
Posts: 7123
Joined: 11/12/2003
From: India-napolis
Status: offline
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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.
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Dan
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pmagas
Posts: 367
Joined: 3/26/2002
From: St. Louis MO USA
Status: offline
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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!
_____________________________
Penny
humble webmaster of
We Sell St. Louis
http://www.WeSellStLouis.com
http://www.MarkSellsStLouis.net
http://www.St-Louis-Mo.info
http://www.NealSellsStLouis.com
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dpf
Posts: 7123
Joined: 11/12/2003
From: India-napolis
Status: offline
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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
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Dan
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Reflect
Posts: 4769
From: USA
Status: offline
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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
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