Definition

If you're running a subscription business, you know that refunds are a necessary part of doing business. But did you know that there are a few things you can do to minimise the impact of refunds on your business?

Here are a few tips for handling refunds in a subscription business:

1. Communicate with your customers. If a customer is unhappy with their purchase, reach out to them and see if there's anything you can do to resolve the issue. Often, a simple refund is all it takes to keep a customer happy.

2. Offer partial refunds. If a customer is unhappy with part of their purchase, offer them a partial refund. This can often be a more palatable option for customers than a full refund.

3. Offer alternatives to refunds. If a customer is requesting a refund, offer them alternatives such as a credit towards their next purchase, or a discount on a future purchase.

4. Don't take it personally.