The Power Of A Solution To An Unsatisfied Need
Well, eventually we did realize that something needed to change. Otherwise, we were wasting our time and that of many potential clients who were more than willing to work with us. Looking back, the solution we found looks so blindingly obvious that it seems incredible that it took us so long to develop it. In fairness, though, putting such a thing together isn’t exactly simple to do, far from it.
Now, the service in question is not a novel concept — in fact, businesses have been benefiting from it for centuries.
I’m talking about insurance — businesses operating in high-risk industries would now be able to offer 100-percent coverage and satisfaction on every product or service that a consumer purchases on their website, backed by one of the biggest insurance companies in the world.
Think about it for a moment: an affiliate marketer, adult, nutra or tech support website would now be able to offer the kind of insurance a customer associates with the likes of Amazon! And this is real insurance, as opposed to offers of just declared value coverage.
For physical goods the shipping insurance covers all countries, excluding the handful of companies embargoed by the U.S. And for digital goods there are no geographical restrictions.
Here is how it works. A full, 100-percent money-back is guaranteed to the customer when a situation occurs. The insurance provider handles all returns and pays all claims within 5 – 7 business days.
Furthermore, the solution is available to merchants on both sides of the Atlantic, so we could offer it to all of our clients in the U.S. and Europe. And it hasn’t been a hard sell.
As anyone with experience in e-commerce will immediately recognize, offering a solid 100-percent money-back guarantee promotes consumer trust and makes it less likely for customers to abandon their shopping cart, which in turn leads to a higher conversion rate and, ultimately, higher revenue.
Moreover, the insurance provider handles all lost, damaged or stolen items through its own call center (and covers all associated costs), which reduces customer service costs for the merchant.
But there is also another reason, which by itself would have been more than sufficient to convince any experienced high-risk merchant to sign up for such a program and it is the thing that changed the whole game for us.
And yes, it has to do with chargeback management.