Don’t let chargebacks leave you backed up against a wall
For anyone with an e-commerce site, a chargeback is unfortunately nothing new. For those lucky enough to not be familiar with the term, a chargeback is a return of funds to a consumer, forcibly – stress on forcibly – initiated by the consumer's issuing bank. Chargebacks happen due to a variety of reasons, ranging from dissatisfaction with product quality to a dispute over billing. Once a chargeback has been initiated, it’s impossible to ignore. It requires extra time to handle the processing and most times, results in unfavorable reviews for your product and your business. The video above, however, offers up a few tips to avoid excessive chargebacks on your e-commerce site. Here’s the rundown:
- Create a cancellation policy that is easy to find on your site. Offer up a link to it on your home page and at the checkout page, at the very least.
- Deliver product details in a realistic manner. An accurate description coupled with quality photography will avoid the chance for customers to feel as though they were misled in the purchasing process.
- Develop a clear shipping policy. This includes times frames, shipping options and most importantly, charges.
- Consumers are more apt to follow through with a chargeback if they can’t readily contact you. And this means via a real person – not via e-mail.
- Online shoppers are still fearful of fraud or identity theft, so ease their minds by posting your billing disclosures in an easy-to-find location.
- The goal is to garner business from all over the globe. Problems can arise if a shopper doesn’t realize what currency you’re advertising your products with. So make it clear and avoid the chance for disputes.
- If you sell items on a subscription basis or with recurring charges, make it known. This is one of the biggest reasons a consumer will carry out a chargeback.
To get the full details, however, check out the video below. You might not be able to avoid chargebacks all together, but it should help when it comes to what matters most: keeping customers happy. http://youtu.be/weq966kLhp0