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Here’s an easy-to-edit template for a full and concise terms and conditions and non-refund policy for one of our courses. While there are tons of contracts for physical products, online courses have limited protection here. No need to try to copy and paste from Google, just edit and upload to your learning platforms. Fully customized for your online business. Protect your intellectual and digital data from fees and buyer’s remorse. Tutorials are included to help with integration. Perfect for startups that don’t have access to legal help.
Online Course No Refund Policy
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This type of information sharing may be considered a “sale” of information under California privacy laws. Opting out of tailored advertising will opt you out of this “sale”. Learn more in our Privacy Policy, Help Center, and Cookies and Similar Technologies Policy. Establishing the right refund policy for your online course is an important step that can impact your sales and revenue. This is also a step that is often overlooked by creators. This article looks at how you can create the best refund policy for your online course business and why offering a more lenient refund policy is a better strategy than offering your customers a free trial of your course or digital product. comes out.
According to the New York Times, 91 percent of consumers surveyed by Harris agree that refund policies are an important factor in their purchasing decisions.
If such a policy is useful in brick-and-mortar stores, it will be indispensable for online businesses. When it comes to online education, the product being sold is not a specific product. The product your students are buying from you is the result you promise them they can achieve, not something they can feel or touch when they order a physical product online.
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In the world of online courses, a well-thought-out refund policy is more than just a formality; it is an important marketing strategy. This can directly affect your bottom line.
A classic example of a money-back policy for an online business is a “money-back guarantee,” which sends a message that the seller has complete confidence in their product. If the buyer is not satisfied for any reason, he will receive a full refund.
This strategy works well because it convinces even the most wary of buyers – who otherwise lack the confidence to buy – by giving them a sense of security.
There are many types of refund policies in the world of e-commerce. However, when it comes to online education, things get more complicated. Since there is no physical product to return and the buyer cannot provide any concrete evidence to justify the refund, a refund policy for online courses must consider several important aspects to work.
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Currently, refund policies are seen as a marketing strategy rather than a legal obligation. It’s a seal of trust that helps overcome initial concerns of potential customers.
Opting for an overly strict refund policy will only backfire and can negatively impact your business and the perception of your customers.
A good refund policy should reassure customers and give them confidence to purchase your online course or digital product.
If you don’t know where to start, our advice is to switch to a softer policy. Consider offering a 100% money-back guarantee or similar refund policy.
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In general, when a customer asks for a refund – and it’s not a scam – it’s better to just give them their money back and not review or discuss with the customer and resolve the refund dispute. it is better not to face problems. The number of customers who ask you for a refund or even try to charge you for a refund can be similar, even though you say it’s non-refundable!
It’s understandable to be apprehensive about offering such a lenient policy, especially as a new online course creator. Read on and we’ll explain how you can protect yourself by offering a refund policy to your customers.
Let’s look at a few examples of successful online course refund policies that choose to be flexible with their requirements.
As an example, the image above shows the refund policy of Amazing.com, an online course that teaches people how to build a business that sells products on Amazon.
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They offer a great value, high quality product and their refund policy is very generous, intending to eliminate any risk associated with investing in the purchase of their courses.
They have a 30-day risk-free money back guarantee policy and they don’t require any reason to ask for a full refund.
But they still didn’t think this lenient policy was enough to convince any potential customer, so they made another promise to their students:
They offer a refund of any investment made by students during the course – up to $5,000!
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This policy and warranty is a relatively extreme example, but Amazing has dialed their numbers and proven their course to be successful, so it’s a policy they can confidently offer.
Since their course teaches people how to make money selling on Amazon, it makes sense to return the initial investment to unsuccessful students.
By promising all this, they seem very confident in their program and as a result it enhances their image as a reputable and scam free course.
By the way, you are obviously asking yourself now: doesn’t everyone try to take advantage of them with such a soft policy?
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Let’s take a look at Amazing’s refund policy to see if it’s a win-win for their business and their customers.
Their course seems to last over 60 days, so even if you wait until the end of the 30 days to request a refund, the most you’ll see is half of their content. This protects their business from the type of customers who log in, see everything, then plan to return it from the start and never finish the course they purchased.
At the same time, the 30-day money-back guarantee helps potential customers feel confident in their decision to invest in the course.
Let’s take a look at their “Success Contract”. Here, they guarantee to pay you up to $5,000 if you can’t sell the inventory you bought within 6 months. While this is a great guarantee, its structure ensures that Amazing doesn’t lose money!
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Their “Success Contract” requires clients to apply their knowledge and launch a product within 4 months, and then complete all marketing steps within 5 months. Amazing will pay the customer up to $5,000 if you feel it is not possible for you within 6 months or sooner. So what is Amazing doing here? There are some requirements, but this guarantee provides a lot of value to customers, and we agree!
These simply designed policies are great for the consumer, but ensure the business doesn’t lose money. While the terms are lenient and fair, they still protect Amazing’s business from unscrupulous customers trying to get their course content for free.
Although you can’t be sure that this won’t happen, let’s take a look at how course creators avoid bounce requests:
Even if you’re doing everything right, there might be one or two people who want to abuse your generous refund policy. However, if you do it right, the reward far outweighs the risk.
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Let’s look at another example of a soft but successful refund policy; this time from one
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