Money back guarantees and free trials are both popular ways for businesses to attract customers and build trust, but there are key differences between the two. While free trials allow customers, like yourself, to test a product or service before committing to a purchase, a money back guarantee goes a step further by offering a full refund if the customer is not satisfied with their purchase. In this blog post, we’ll explore why money back guarantees are the better choice for our Auto Subscription Plan and customers alike. We’ll take a look at the benefits of money back guarantees, how they can help to build trust with customers, and some of the drawbacks of free trials. By the end of this post, you’ll have a better understanding of why we choose to use money back guarantees over the free trials model.
Free Trial
A free trial is a period of time during which a customer can try out a product or service before committing to a purchase. The customer is usually given access to the full version of the product or service for a limited period of time, usually a few days or weeks, to determine if it meets their needs and if they want to continue using it. They allow customers to test the product or service before making a purchase, which can help to reduce the risk of dissatisfaction or buyer’s remorse.
Pros of Free Trials:
Low-Risk: Free trials allow customers to test a product or service before committing to a purchase, which can help to reduce the risk of dissatisfaction or buyer’s remorse.
Try before you buy: Free trials allow customers to test the product or service before buying, which can help them to make a more informed decision about whether to purchase it.
Cons of Free Trials:
Limited Time: Free trials usually have a limited time, which means that customers have to make a decision about whether to purchase the product or service within a certain period.
Limited Features: Some free trials may not include all the features of the product or service, which can make it difficult for customers to fully evaluate it.
What is a Money Back Guarantee
A money back guarantee is a promise made by a business to refund a customer’s money if they are not satisfied with a product or service. It is a type of assurance that the customer will be happy with their purchase and it gives them a sense of security when buying a product or service.
Pros of Money Back Guarantee:
Low-risk: Money back guarantees allow customers to return a product or cancel a service and receive a full refund if they are not satisfied with it, which can help to reduce the risk of dissatisfaction or buyer’s remorse.
Builds Trust: Money back guarantees can help to build trust with customers, as they demonstrate the business’s confidence in their product or service and willingness to stand behind it.
Encourage customers to take action: As customers know that they can get a refund if they are not satisfied, it encourages them to take action and purchase the product or service.
Cons of Money Back Guarantee:
Can be limited: Some companies may have certain restrictions or conditions on their money-back guarantee like a limited time frame or specific product/ service exclusions. We do not have any time limits or exclusions.
In conclusion, both money back guarantees and free trials are popular ways for businesses to attract customers and build trust, but there are key differences between the two. While free trials allow customers to test a product or service before committing to a purchase, a money back guarantee goes a step further by offering a full refund if the customer is not satisfied with their purchase.
Money back guarantees have several advantages over free trials such as: it reduces the risk for the customer, helps to build trust with customers, increase sales and encourages customers to take action. On the other hand, free trials have limited time frames, limited features and may risk losing customers.
Overall, money back guarantees are often a better choice for both of us as they provide more security and reassurance for the customer and demonstrate the business’s confidence in their product or service.
Learn More on our money Back Guarantee with our Auto Subscription Plan here:
