Want to grow your sales and beat the competition even if they are bigger, better-funded, and have a larger staff?
Take away any perceived risk of buying from you.
In the world of marketing it's called a "risk reversal."
Maybe it's a free trial or a 30-day money back guarantee or a lifetime warrantee or a "double your sales or your money back" offer.
Whatever it is, make it big, state it boldly and proudly so it cuts through the noise and the clutter and separates you from your competition.
See how Denzel delivers his guarantees to close his sales.
Strong guarantees can help you DOUBLE or even TRIPLE your sales. That's the power of the "Risk Reversal."
The nice thing about offering dramatic guarantees is that it's so easy to implement and measure and it will help you grow sales.
You and I and our customers are driven by fear and greed. We're either moving towards pleasure or away from pain.
If they are afraid your offering won't eliminate their pain, they'll hesitate, and time kills deals.
A strong guarantee eliminates fear and gets your prospects moving towards you as the one who can increase their pleasure and reduce their pain.
Three Easy Ways to Reverse Risk
- Offer Their Money Back...for a long time: The “30-day money back guarantee” is the defacto minimum these days, but is your goal to be average and ordinary? Do you have the guts to offer a 60-day, a 365-day, or a lifetime guarantee?
Start with doubling your guarantee and see what happens. But first, make sure your marketing and salespeople have their act together. If you have cheesy, push salespeople who will say anything to make a sale, DO NOT OFFER A LARGER GUARANTEE!
Instead, start here...
The reality is, the greater your guarantee—of a good product and/or service—you will almost certainly see sales increase, refunds decrease, and referrals and testimonials grow.
If you're feeling especially froggy, try my "alligator guarantee" that goes like this: “If, after using our products for a full year you're not so thrilled you'd swim across an alligator-infested swamp wearing a Lady Gaga meat suit just to mail us a letter telling us how happy you are then call us and we'll not only give you your money back but we'll let you keep it.”
Don't you think that will make a greater impression than the plain vanilla “Keep your receipt...and your original packaging...and contact our return department on the second Tuesday of the week prior to your 30-day purchase between the hours of 5:16 PM and 6:02 PM Hawaiian time...and we guarantee you'll probably get your money back...within a few months...and after you give us a one star review on Yelp!"?
Oh yeah, if you are 2x or 3x or 10x what your competition offers...well guess what your prospects will think about the quality and the value of their offerings compared to yours!?
- Guarantee More Than Their Money Back: This only works if you offer some sort of bonus with their purchase...and you are offering bonuses with every purchase, right? RIGHT?
The 3 am infomercials do this all the time because they work!
"Pay nothing now (just cover shipping and handling) and you'll have a full 60 days to put us to the test. If you are not blown away. If you are not calling your best friend from college at 4 am to tell her how wonderful this is then not only will you not be billed but you can keep the bonus child-whining noise cancellation system as our thank you gift for giving us a try!”
Like any good, effective marketing concept you need to test and measure this but let me know if you don't see an increase in sales and profits. Sure, a handful of scumbags will take advantage of your offer but the percentage increase in sales to good, honest customers should increase tremendously.
And feel free to have fun with this bonus offer. There really is no limit so long as the bonus offer makes sense and is something your ideal customers would want and use with your primary offering.
- The Confidence Guarantee: When you can't guarantee results, i.e. an oncologist, attorney, accountant, or realtor, you can offer a "try before you buy" in the form of a free consultation or sample audit.
You offer this confidence guarantee in much the same manner you ask a woman out to coffee or lunch as a first date to give her a low pressure opportunity to get to know you before she makes a decision on whether or not to go to dinner and the movies.
Just like selling a car on eBay with a starting bid of $1 will usually bring you a higher final bid than starting it at $5,000 or $10,000 or with a reserve price, enhancing your money back guarantee should help you make more sales faster, at higher margin, with less stress, and more fun with fewer returns and more referrals and testimonials.
Your fellow consumers are not trolling the web or stores to steal from you. They just don't want to be a victim themselves.
You can do this. If you'd like some help,