Offering a guarantee in your marketing can do wonders for your increasing your sales. It helps reduce the risk for your clients and it feels like a fair value for action vs money.
In fact, tests have shown that adding a 30-day money back guarantee (for example), you are able to increase sales by 21%.
In a study by Suwelack, Hogreve and Hoyer published in the Journal of Retailing titled “Understanding Money-Back Guarantees: Cognitive, Affective, and Behavioral Outcomes,” they found:
“The results of two experimental studies show that in addition to cognitive effects, Money-Back Guarantees evoke a positive emotional response, thereby increasing consumers’ purchase intentions and willingness to pay a price premium.”
I think we all can understand that with a guarantee you are unleashing an excellent tool for reducing the buying risk for your customers.
But a simple money back Guarentee is good, but we help our client shoot for GREAT. One example we like to share is a blast from the past.
It’s a 100% Money-Back Guarantee PLUS a Keep the Bonuses
This type of guarantee take us all the way back to the late 1970’s as its origin, but its brilliants still works today.
Taken from the Ginsu knife infomercials. Envisioned by the late Barry Becher, this classic offer always began with the words…
“But wait, there’s more…”
The Guarantee would the go something like this:
“Buy the Ginsu knives and we’ll throw in a state-of-the-art handheld juicer for free. But wait, there’s more! Call within the next 30 minutes and we’ll send you a bonus set of filet knives FREE. If for any reason you are not completely satisfied, just return the Ginsu knives, and keep the juicer and filet knives as our free gift.”
This type of Guarantee is so compelling, not only do you get two bonus iteams when you buy, you also get to keep them and get 100% of your money back if you do not like the knifes.
Now that’s what I call an offer!
See what our business growth mentor Ian Squires has to say about guarantees on the below video:
At ActionCOACH we have 7 Guarantees for our clients…
- We Guarantee to get results, and that you’ll be able to “Find our Fee” in your business within 17-weeks of ActionCOACH coaching your company … or your coaching is FREE.
- We Guarantee to tell the truth about you and your business … no matter how uncomfortable it may be, or how hard it is to share with you the realities of your business and the changes you need to make.
- We Guarantee you a “business re-education” about how your business really works and how to successfully grow your company … as well as how to apply your new education and knowledge to any business situation.
- We Guarantee complete confidentiality. Our working relationship will involve a level of trust and understanding about the proprietary nature of our coaching strategies and the proprietary aspects of the numbers and nature of your business. Because of this, we guarantee a confidential business relationship with you during the course of our work together.
- We Guarantee a personalised approach to your business. You and your business are unique. Because you are relying on our experience in working with businesses of all kinds, you can be assured you will have a clear understanding of the nature of any program we recommend, and that your expectations will be properly managed as to anticipated outcomes and results.
- We Guarantee a proven system and methodology that is designed to multiply profits in your business, with complete access to our proprietary system of coaching strategies, systems, programs and services.
- We Guarantee to show you how ActionCOACH defines business success, and how to build a commercial, profitable enterprise that works without you.
If you are interested in talking to one of our Business Growth Mentors, please don’t hesitate to contact us 01344 723270.