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The power of one good idea

August 17th, 2018 by Bob Bly

Here’s a recent incident that illustrates a valuable idea — “the
power of one good tip” — I want to share with you.

What happened was this: my subscriber KW ordered one of our
how-to business guides.

The next day, she sent the following email to me:

“Bob, I just ordered this and went through it quickly. This looks
like a great book for beginners. Unfortunately, it’s too remedial
for me, and it’s the first purchase from you that I am requesting
a refund on, please.”

We issued the refund immediately, without question or quibble, as
all marketers should.

Then KW, being a straight arrow, said to be fair to me, she had
deleted the PDF from her hard drive.

But … my guarantee says clearly: “You can keep the ebook even if
you ask for refund.”

I told KW this — and offered, at no charge, to resend the ebook
PDF.

KW replied:

“Seriously?! Wow! I would be happy to have it back. There were a
couple of items in Section IV that were quite helpful. Thanks
Bob! Much appreciated.”

Wait a second, KW, I thought. Hold the phone.

You mean you LIKED the ebook, got something out of it, and you
still told me to give you your money back?

I immediately replied:

“It’s my pleasure.

“But here’s something to remember before you ask for a refund on
anyone’s info product again:

“Namely, if there is even ONE item in a book that is helpful to
you, that one idea or tip alone could easily be worth 10X or more
what you paid for the product.

“My attitude as a consumer is that if I learn just one new thing
from an info product, I know my time and money have been well
spent.

“And in that case, since you have gotten your money’s worth —
hasn’t the producer earned his pay?

“Think about it.”

There are 2 valuable take-away points here, one for you as a
consumer of info products, and one for you as an info marketer.

First, as a consumer of info products, understand that you should
read for repetition as well as for new ideas.

Repetition has value, because we need to hear an idea or
instruction multiple times for it to sink in.

So if 95% of an info product tells you things you already know,
it is providing value by reinforcing your learning.

Then, if you also get one or two useful new ideas or strategies
in addition, consider it a bonus.

Second, as an info marketer, make the above points explicitly in
your sales copy.

This is typically done by writing on your landing page: “If you
get even just one new idea from my course, it can easily pay back
the cost 10X over or more.”

That way, you set a realistic expectation with buyers that
increases customer satisfaction and reduces refund requests.

Now, do I include that copy consistently on all my sales pages?

No.

Should I?

Yes.

When I returned the ebook to KW, she thanked me and offered
to pay for it again, which was highly ethical and admirable. And
to answer your question, I thanked her for that but did not take
the money, insisting she keep the product free “on the house.”

Why? Because it is always better to under-promise and
over-deliver than vice versa.

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This entry was posted on Friday, August 17th, 2018 at 9:59 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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