A few weeks ago I told you that your order form should include a written guarantee on the product that you’re selling in the back of the room.
Here’s why: The number of people who will actually return a product is very small, while the confidence that your guarantee provides can increase sales dramatically.
A guarantee lowers the level of risk in people’s minds, thus calming their fears, and helping them to get off the fence.
Longer Is Better
This may surprise you, but the longer the guarantee on your product, the fewer returns you’re likely to get.
That’s right, you’ll get fewer returns on a 12-month guarantee than you would on a guarantee that’s good for 30 days. Why? With a longer guarantee, people won’t feel the urgency to act, and so they’re less likely to do so.
Urgency to buy works in your favor. But urgency on the buyer to decide if they love and want to keep what they bought ~ that works against you.
So when you structure your guarantees, think like a quarterback, and go long.
Different Guarantees for Different Situations
When it comes to guarantees, one size does not fit all. You want the right guarantee for your situation, and in some cases, that’s no guarantee at all.
Coaching. I do NOT offer a guarantee for coaching, because, in order to get results, you have to do what I show you how to do. I can give you great information, the best information in the world, but there’s absolutely nothing that I can do to make you apply it.
Seminars. Currently, I offer a first-day guarantee on seminars. By the end of the first day, I should be able to show attendees enough value for them to want to stay for the length of our seminar.
Therefore, if they’re not absolutely convinced by the end of the first day that the seminar is everything we said it would be, we refund their entrance fee, plus reimburse them for up to $500 in travel expenses. The expenses need to be documented, of course.
Good Guarantees = Good Business
You're in business for life. You want to establish credibility. And you want people out there saying great things about you. Anything that you can do to make the experience with you and your company a fantastic one is better for you.
Show your clients that you and your company are top notch. Do it to the best of your ability.
Now, there will be some people you can't satisfy, no matter what you do. Don’t get overly upset about them.
Turn your attention to the other 99%, who will appreciate your efforts. They will be more likely to purchase because of your guarantee, and then, in all likelihood, never use it.