Ever hear of the “Trial Mark”? In 1869, for his home brewed medicinal products J.R. Watkins created bottles that included an embossed “Trial Mark.”
Mr. Watkins sold his products door-to-door and offered the first Money Back Guarantee to consumers, provided their use of the product did not extend beyond the “Trial Mark.” – Ingenious!
One hundred and fifty years later, money back guarantees are a trillion (with a T) dollar business in the U.S. With that comes about a 10 billion (with a B) dollar loss for businesses. (more…)