Offering a guarantee is a great way to make it easier for customers to buy. You can convert more customers by using the power of a guarantee. The reason lies in human psychology. It removes any risk from the purchase as it gives them an out if they don’t like the product.
Psychologically, a guarantee gives them confidence in your product. I mean why would you be offering a guarantee if you weren’t confident in your product? Obviously you need to have a quality product before you offer an awesome guarantee.
You have probably seen the mattress companies that offer a guarantee like this: “Try our mattresses risk free for 30 days – In the unlikely event that you’re not 100% satisfied with your mattress we will give you 100% of your money back.” A guarantee like this takes the risk out of buying for your customers and gives them confidence to purchase.
Most people won’t take advantage of the guarantee and the amount of returns you’ll have versus the increase in sales will be well worth it.
It pays to be fairly laid back on your guarantees. If you have a lot of fine print in order to claim the refund that will work against you. If customers find they can’t get a refund when they ask, you will encourage chargebacks and definitely have a lot of unhappy people. It pays to be generous when meeting guarantees so that you don’t generate bad reviews.
Reputation management is very important to every business. Disgruntled customers who leave bad reviews (even if they are unjustified) could damage your business.
Having said that you should definitely consider offering a guarantee that takes the risk out of the purchase for the customer. Provided you have a good quality product that you’re willing to back this strategy will increase sales.
Make your guarantee bold and easily visible. You can turn it into a real selling point, especially if your competitors don’t have a similar offer. The power of a guarantee will convert more sales. Gains you make from the extra sales should far outweigh any losses from the few who make use of the guarantee.
To get even more tips and strategies for increasing your sales, check out this book: 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!
