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7 Secrets Of A Sales-boosting Guarantee
People are more likely to buy from you if they feel there is no risk involved. The main way of doing that is by offering some form of guarantee. However many businesses lose out because they don't offer one or offer the wrong type. Here are 7 ways to make guaranteees work for your business.
If you want to encourage people to buy your product or service, you have to make the decision as easy as possible.
Based on the techniques of hypnosis and Neuro-linguistic Programming, you want them to picture in their mind what it will be like in the future after they have bought it.
It may be difficult for them to do that if there is too much risk involved so your marketing task is to remov the risk.
The way you do that is through some sort of guarantee.
Most potential buyers will be a bit skeptical of buying whatever you sell and a guarantee removes a significant part of their risk.
People want to know that you will “put your money where your mouth is.” If you have confidence in your own product or service, this will help your customers feel at ease, leading to more sales.
For this reason, the concept of “risk reversal” is crucial.
If you can’t stand behind your offer with a guarantee of some sort, people are likely to purchase from someone who does. So make sure you don’t help the competition by missing out this part of your offer.
Some people are too scared to offer a guarantee as they worry that people will take them up on it.
The reality is that some will but, provided you deliver good quality and don’t make unjustified claims, you will win more business by having the guarantee than you will lose in this way.
Here are 7 ways you can get the best results from your guarantee.
1. Promote the value of your guarantee: Specify the details as though it is another product that adds value to your offer. Spell it out in plain, simple English. Make sure it is “no questions asked” to help put your customers at ease.
2. Make it personal, if possible: It’s useful to help people see that there is a person behind the guarantee. So consider making it a “personal pledge” or a “personal promise” written to the buyer.
3. Longer is better: The longer the guarantee period, the more comfortable the buyer will feel - and longer guarantees typically lead to fewer refunds. In the extreme version, people only pay after they have tried it out to their satisfaction.
4. More is better: A guarantee that offers ‘more than your money back’ is very appealing. Let your customers keep something even if they decide to return the product. This helps them see the purchase from you as totally risk-free - because you’re the one with all the risk.
5. Be creative: Think about what the customer really wants and consider offering guaranteed results rather than offering money-back. For example, a computer repair shop that will fix your machine even if it takes 5 trips back to the shop will really stand out from the crowd. No “or your money back” needed!
6. Make it prompt: When a customer asks for a refund, make sure it is prompt and courteous. Consider them a priority as it’s better to refund the money than to have an unsatisfied customer.
7. Work on reducing refunds: No matter what you do, you can still expect to give refunds from time to time. It is a simple fact that customers change their minds or were just looking for something else. Take the chance to get some feedback and see if you need to make changes.
A good guarantee can provide a high level of comfort to your prospective customer that will make it easier for them to see the potential of working with you. So it’s well worth making it part of your marketing package.