We've all had those questions in our business that either stop our train of thought or slow our level of productivity down. Ranging from product creation, affiliate marketing, teleseminars, financial matters, I know in my own business I've come upon hundreds of business questions that I wish I could know the answer to. So, in this article I am going to answer two questions I've had about product creation.
Let's start with the first question:
Do you have to offer a money back guarantee with your products?
What I would do is check with your merchant account because often it is the merchant account that stipulates as far as the guarantee goes and sometimes they even say that you cannot offer guarantee longer than 30 days.
So I would check with your merchant account. That is probably the best place to go and they will be able to point you toward the specific rules and regulations that the government has set, but your merchant account is the one that is going to be following it because they are the ones responsible for the money coming and going and that is why they are obviously following the FCC and they are up-to-date on all the FCC rules and regulations.
Often it is your merchant account that will stipulate how long your guarantee can be for, or if you can actually offer one. So you would definitely want to check with them to make sure what you are offering is allowed.
Question Two:
What kind of percentage would you say is there on thievery, such as people downloading your product then immediately asking for a refund?
You will get the professional refunders who buy your product, download it, then ask for a refund, but you will also get the people that buy your product, pass on their member info to all their friends, family, and colleagues and so forth so you have got like ten people accessing one account. That is a big problem too and that is hard to tell if you do not have tracking setup.
At the start of my business I didn't have a tracking system set up and even though I knew people were sharing my information I had no way of pinpointing exactly who it was and stopping them. Now I have a tracking system that allows me to see how many different IP addresses are accessing my information.
Products like, Product Padlock that Armand Morin created, gives you the ability to see who is downloading your products, where they are doing it from and how many times they have downloaded it. This allows you secure your digital products.
If you noticed you have got five different IP addresses that are completely different, all downloading your products, then you know that, "Hey, somebody is passing this info around somewhere." So Product Padlock is a great resource for that, but I do not know that I have a set percentage. It just it happens on the allocation but it happens no matter what product I sell.
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