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Simple Copywriting Secret Makes Your Ads More Profitable Without Increasing Sales Or Raising Prices
Would you like to increase the profits of every ad you
write...without making any extra sales and without adding even one
penny to the price of what you're selling?
Then consider this:
A couple years ago one of my joint venture partners and I were selling
a product that, while extremely high quality, was getting a ton of
refunds.
One of the reasons for this was because we were letting people buy it
on approval (i.e. we'd send them the product for 30 days before
charging their credit card) and we were using PayPal. And the only way
to do this with PayPal was to set up a "subscription" that lasted 30
days.
Only problem is, PayPal sends you an email reminding you at the end of
those 30 days about your purchase and gives you a nice, convenient link
you can use to cancel the order (you just click on a link).
Long story short, we ended up with a whopping 37% refund rate.
Ouch.
And it didn't take long to realize we shouldn't be using PayPal for
this particular deal, and used a regular merchant account. As soon as
we did that, the refund rate plummeted from 37% to 10%.
Now, here's the thing:
We were making about $450 per sale. Which means we were grossing
$45,000 every hundred sales. But at a 37% refund rate, we were only
netting $28,350 of that money.
After changing the merchant account and cutting down the refund rate to 10%, we were netting $40,500 every 100 sales.
In other words, we added $12,150 to our profits...without adding a
single sale or increasing the price. All we did was cut the number of
refunds.
And ever since then, with every project I've worked on, one of the
first things I try to strategize is how to write my copy and structure
my offers in a way that minimizes refunds. Especially when doing
"try-it-before-you-buy-it" offers -- which tend to increase both sales
and refunds.
Anyway, here's the bottom line:
Depending on the price and quantity of what you're selling, reducing
your refund rates by just 5% or 10% can put a significant amount of
money in your pocket without doing any extra work whatsoever.
Ben Settle is a direct response copywriter and author of "The
Copywriter's Cheat Sheet" -- which contains over 300 pages of advanced
copywriting secrets and rare swipe file ads not easily found anywhere
else. You can get a free copy of his book and read his latest
copywriting ideas and tactics at bensettle.com
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