How We Get A 100-Percent Opt-In Rate
Now, let’s take a step back. You may be looking at my stipulation “if 100 percent of the sales were insured” and nodding your head skeptically. After all, in the real world, you wouldn’t expect all customers to sign up (and pay) for an additional service, would you?
Well, it turns out that it isn’t at all difficult to get a 100-percent opt-in rate. Remember, this is a program that we have made available to the most high-risk of merchants.
I’m talking about tech support, adult, dating, nutra, affiliate platforms, direct responders, etc.
For these merchants, or at least for the ones among them who have been in business long enough to know what really matters when it comes to keeping their merchant account live (incidentally, these are the ones we are interested in doing business with), maintaining a low chargeback rate is the top priority.
Even one month of abnormally high chargebacks can cost you the merchant account — and you cannot afford that!
Talk to any, say, tech support merchant, even the biggest and best-run among them, and they’ll tell you that keeping the lowest chargeback rate possible is the key to keeping their merchant account open.
It’s something you don’t mess with and are constantly looking for ways to improve.
With that consideration in mind, high-risk merchants are open to incorporating the cost of the insurance into the checkout price, which means that 100 percent of their sales are insured (and the chargeback rate is immediately slashed in half).
But our experience shows that, even if you use the opt-out process — meaning that the insurance is optional at checkout, but is pre-selected — very few customers choose to unselect it, so the results are very similar to what we get with the non-optional bundle.
And you can understand why a consumer would like to have insurance when shopping on such websites. Let’s face it, businesses in industries like affiliate marketing, tech support, adult, dating, nutra, etc. have suffered from quite a bit of negative publicity over the years and many consumers are reluctant to shop from such websites, even when they really need their product.
Well, now they have the peace of mind that the product or service they need is fully insured by one of the largest insurance companies in the world and is backed by a 100-percent money-back guarantee.
So, it’s up to the merchant to choose whether to bundle up the insurance cost with the sales price of their merchandise or to give the customer the option to decline it.
In our experience, the most chargeback-prone merchants prefer the bundled option, just to be on the safe side. But the important point is that either way we get a very high insurance opt-in rate.