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Refund policy for lifetime deals?
by
Atta ⚡
Hi,
What's an acceptable refund policy for lifetime deals/one-off payments for a micro-SaaS?
Thanks!
I would just go with a full refund during some short period of time, let's say 90 days (it is short considering you are buying lifetime sub).
Give the stats available online I believe you'll have a small % of people who will churn this way and they will praise you as an amazing company since you gave them 100% of money back.
Might as well be a growth hack
Interesting. I think 90 days is a lot of time to try a product.
Usually lifetime deals refund policy will be for 30 days but our clients felt it is short period of time and like A/B testing we have extended the lifetime deals refund policy to 60 days. (yes! its long period here we play the strategies that is beneficial for our audience)
I have a 30-day refund policy for the lifetime subscriptions for Sizzy So far it's been only a few requests for a refund, so honestly I don't think it matters that much.
Thanks for the reply :) Sizzy looks great!
np, thanks!
14 days is enough to try any product and decide if they like or not.
If you're well funded company then of someone ask for refund then I will give it full refund after 14 days of trial. But if I'm new then I will refund 50% after 14 days..
I am also thinking of a 14-days refund policy.
A reasonable answer to me is probably a function of the price that customers pay and the nature of the product provided.
I'm mostly partial to the idea that generous refund policies are a win in the long term; when people are unhappy but are treated well and given their money back, they'll often still recommend a product to others and IMO are much more likely to provide authentic feedback (making it easier to close gaps and prevent future churn).
That being said, if I'm selling e.g. a micro-SaaS product that curates jobs based on individual job seeker preferences, refunds are tricky because the more effective my product, the more quickly people will no longer need it. In a case like that, I imagine a tight refund policy would definitely be called for (but only once I'd reached a scale where I was optimizing for $$)