GrowthHackingIdea - Study: 30% less chargebacks (1 change)

When your retention sucks, growth hacking doesn't make any sense as you multiply all your effort by 0. It took me 2.5 years to collect 77 best retention hacks and put together the retention framework for you. Here's what I got:


Today you can get them instantly on Amazon for just 9.99. OR get them for free by helping 1 new friend to join our invitation-only community of over 27K growth hackers (from companies like Uber, Google, Microsoft, TechStars, etc.):

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Oftentimes people would see a charge from "37signals, LLC" on their card but didn't remember what it was - couldn't recognize it.
So they called their credit card company to cancel the charge.

As a result, 37signals was losing money and harming their bank reputation.

A small trick helped them to reduce chargebacks by 30%.

How?

According to the rules, your company name section on the customer’s billing statement must be 3, 7, or 12 characters and the product descriptor 4, 8, or 13 characters.

So they changed the customer’s billing statement from "37signals, LLC" to "37signals-charge.com 800.xxx.xxxx IL".

Visiting 37signals-charge.com takes you to a page where they explain the charge, the products, some suggestions if you don’t recognize the products, and a link to their billing support form if someone needs additional help.

Result: 30% less chargebacks

Source: signalvnoise.com


Cheers,
Charlie Patel ;)



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