MBA538 Free Trials vs. Money Back Guarantees Plus Free Ride Friday!

MBA538

What’s the difference in revenue when you do free trials for your products or services versus doing money-back guarantees? Which one makes you the most money and which one has you keeping the most money when it’s all said and done and you’ve accounted for refunds? Should you allow a test drive with your product or service before the purchase or should you charge first and provide a refund in a certain amount of time if customers decide to not continue with your product/service? Let’s see the difference, advantages and disadvantages in today’s lesson! Press play!

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What Converts Better: Free Trial or Money Back Guarantee?
by NEIL PATEL

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  • When running a free trial, when do you charge the customer? Do you charge on the last day of the trial (ex: day 7 of a 7-day trial) or on the day after the trial has ended (day 8)?