How to Convert More Sales By Using The Power of A Guarantee
Offering a guarantee is a great way to make it easier for customers to buy. It takes the risk out of the purchase for them, as it gives them an out if they don’t like the product. Psychologically, it also gives them confidence in your product – as to why would you be offering a guarantee if you weren’t confident in your product? Now, to be clear, make sure you do offer a great product before you whack an awesome guarantee on it!
For example, if you have a mattress company, you could offer a guarantee and word it 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 in your product. Most people won’t take advantage of the guarantee, and the number of returns you’ll have versus the increase in sales will be well worth it.
And having said that, it’s often best to be fairly laid back on your guarantees. If you have crazy fine print or rules to claim the refund, you’ll encourage chargebacks, piss off your customers (potential future buyers), etc. It pays to be nice and laid back to an extent.
Consider offering a guarantee that takes the risk out of the customer’s purchase (make sure you have a good quality product that you’re willing to back). Make your guarantee bold and visible, and the number of extra sales should far outweigh those that make use of the guarantee.
For other tips on increasing your sales, check out his book: 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!