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Eliminate Chargebacks RIGHT NOW

Mike Peters, 11-08-2007
If you're selling anything online, having your own merchant account, or using a payment middleman like PayPal, you probably know about chargebacks.

Quote:
A chargeback occurs when a customer disputes a charge on their statement by contacting the credit card company instead of contacting you.

If a customer does not recognize the charge on their statement, or if they believe the amount was wrong, they may call their credit card company and ask them to investigate. Thus begins the chargeback.

The merchant bank will charge you a fee for the retrieval of information, and if it is determined that the customer is right, there will be another fee for the chargeback itself. The customer will be refunded their money directly through the credit card company and your checking account will be debited.

Most businesses average 2% to 4% charge back rates, which means 2% to 4% of your total annual sales are flushed down the tubes.

How would you like to reduce your chargebacks or even completely eliminate all non-fraud chargebacks?

Here's a chargeback reduction system we developed for our merchants:

Step 1: Ensure all customers receive an Order Confirmation email as soon as they place an order. The Order Confirmation email MUST include:

(a) Order number
(b) When to expect delivery (or download link)
(c) Tracking number (if package)
(d) The email reply-to address should work and by "work" I mean someone on your end should be checking emails that come to this box
(e) Include a phone number on the email for questions or concerns

Step 2: Your website should have a prominent "Contact us" page, making it super easy (no more than 2 clicks) for your customers to send questions about orders and billing.

Step 3: Whether you realize this or not, whenever customers buy anything from you and pay with a credit card, their credit card statement includes a phone number to contact your business in case they have questions about the order. This is the same phone number you supplied your merchant account provider 5 years ago when you opened the account.

Surprisingly, most companies don't realize the phone number on their customer's credit card statements is either disconnected, points to a "mailbox is full" or is just never monitored.

Setting up a call-center that would answer all calls to this phone number for you, is much more affordable than you think.

Rates start at $1.00 per minute and you pay per usage.

Step 4: Send a follow-up email 15 days after the customer placed an order and include a generic survery, inviting customers to rate your service.

You can grab the questioner used by BizRate or Shopzilla and use the same questions.

Step 5: Send a follow-up email 60 days after the customer placed an order and invite them to provide additional feedback on what you can do to improve. This gives them a way to rant about what's broken with your product and by allowing customers to communicate this back, you are giving the impression that their feedback is truly important to you.

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Needless to say, when you do receive an email from a customer, it is super important to reply to that email within 24 hours or less. And yes - you're probably better off outsourcing that too.

Follow this system to a tee and not only will you be reducing your chargeback rates, but you'll probably see a steady increase in repeat business as well.

P.S> One guy is selling a 10 page e-book for $97 which pretty much includes the same information you got here for free.
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