[lightbox class=”frame_cent” type=”iframe” title=”ClickBank Policy Changes” prettyPhoto=”” link=”http://markacutt.com/wp-content/uploads/clickbankpolicy-full.png”]
I’ve been meaning to write about this for a couple days now as a policy update from ClickBank hit my inbox.
To sum up: Vendor accounts with a refund rate at or above 15% will incur additional fees or penalties.
So what does this mean and how will it affect you?
If you’re an affiliate it’s great news. It means as an affiliate you can be sure vendors are going to be scurrying to make sure their products have a low refund rate.
That means less refunds for affiliates and more cash in their pocket.
The problem is; people expect MORE now than they did a few years back. If they’re going to fork out $37, $47 or even $97 on a book or video training it has to offer a lot more value than what they can find
[A] For free
[B] Elsewhere for cheaper (Take a look at Amazon Kindle as an example).
So what does this mean for Vendors?
Wake up call time. Far too often I see vendors selling high priced items that just don’t cut it. They don’t deliver value on what is expected. Fair enough if you’re paying less than $20 for a product, that’s more than reasonable and you don’t expect much for 20 bucks.
But when an affiliate promotes a $47, $97 or $197 product, people want something of substance. Something they will learn from and say: “Wow, that was awesome”. Even if there is one good “take away” from the product, it lessons refunds.
Think about it…
If you learn one good thing that you can use and implement into your online business for the better, would you ask for a refund?
But a lot of products just don’t deliver. They promise to help you achieve all sorts of “magical” things – but in reality they just don’t work. They don’t help you (the customer) achieve the required result.
Bundled with regurgitated content that more often than not is easily found by searching online is a massive downfall.
Read the full ClickBank Policy Update.
ClickBank are making a smart move. Vendors will be persuaded to providing better value at the risk of being penalized. In turn will help keep their affiliate retention.
This is great news all round for affiliates. Products with high refund rates will be lessoned and affiliates don’t have to learn the hard way by driving traffic (especially paid) only to find out the high refund rate at a later date.