MBA1450 Q&A Wednesday: Should I refund customers past the refund deadline?

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.9 • 1.2K Ratings

🗓️ 29 January 2020

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Almost every business goes through this: you set a refund policy, and a customer violates it — but they still want their money back. The terms were clear, but the customer isn’t. Or they are, but they want an exception. This is especially common when your refund policy stops after a certain amount of time. People unintentionally let free trials lapse into paid memberships, or procrastinate on returning a physical item.

Transcript

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0:00.0	Heyo! Welcome to the $100.
0:01.0	R. M. B. A. M. A. M. A. Show!
0:10.0	Welcome to the $100. R. M. A show.
0:12.0	Because time is money.
0:13.4	That's why we deliver daily 10 minute business lessons
0:15.8	for the real world.
0:17.4	I'm your host, your coach, your teacher Omar is at home.
0:20.4	I'm also the co-founder of the $100 MPA, a complete business training and community online.
0:25.0	And today's episode is a Q&A Wednesday episode.
0:28.0	On our Q&A Wednesday episodes, I answer a question from one of you, one of our listeners.
0:32.0	If you have a question you want to ask, just
0:34.3	email me over at omar at 100MBA.net and I'll make sure to answer it right here on
0:39.6	and Q&A Wednesday. Today's question is from Patty and Patty asks should I refund my customers
0:44.9	passed the refund deadline. Hey Omar my product has a 30-day money back
0:50.3	guarantee but on occasion I have customers that email me past day 30 asking
0:56.7	for a refund. They often mention that they didn't use the course or don't have time for
1:00.8	it and therefore want their money back.
1:03.5	Sometimes this is true and they did not use the course,
1:06.4	but at times it's not.
1:07.8	Does it really matter?
1:08.8	Should I give them their money back?
1:10.5	Or should I have a hard and fast rule with my refund policy.
	...

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