MBA1450 Q&A Wednesday: Should I refund customers past the refund deadline?

Almost every business goes through this: you set a refund policy, and a customer violates it — but they still want their money back.

The terms were clear, but the customer isn’t. Or they are, but they want an exception. This is especially common when your refund policy stops after a certain amount of time. People unintentionally let free trials lapse into paid memberships, or procrastinate on returning a physical item. 

What should you do when they ask for a break?

It’s Q&A Wednesday, and we’ve got a listener who wants to know how flexible or strict they can afford to be. Are there advantages to being a hardliner? What can you gain from bending the rules? It’s best to figure out what you’re going to do now, before you’re faced with the situation — because you probably will be.

We’ll share our own formula for handling post-deadline refund requests, and explore the pros and cons of good old fashioned mercy. Plus, we’ll explain how every refund request is a hidden opportunity, if you know how to approach it. Click Play!

To submit your questions, visit 100mba.net/q.

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