The Power of a Good Guarantee
When a potential customer reaches your website’s product or service page, they can still have reservations about accepting what you are offer them. At this point, it is vital that you override any fears or concerns they may have about your product or service. This is where the guarantee comes in handy.
Guarantees provide the customer with a risk-free journey to buying your product or service. A guarantee alleviates any doubts or concerns the customer may have, leading them to proceed with your call to action. This will lead to more sales, more business, and more profit.
This article will show you, step by step, how to create a strong guarantee that will eliminate the barrier between your customer and their choice to invest in your product or service.
Step 1: Consider the possible fears and concerns of your customer
The purpose of a guarantee is to remove fears and concerns which create the barrier between your potential customer and their decision to go ahead with your ‘call to action’ whether that be a purchase, quote or an inquiry about your product or service.
The 5 most common purchasing fears are:
- What if it doesn’t work? (Functional)
- What if there is a way better deal out there and this offer is overpriced? (Financial)
- What if my friends or family don’t approve? (Social)
- What if I don’t like it? (Psychological)
- What if it doesn’t arrive in time? (Time)
Put yourself in the shoes of your potential customer. What are they most likely concerned about? It might help to write it down and work through it on paper. Once you understand what they are concerned about, you can work to alleviate that concern.
Step 2: Use your strengths to address the fears of your customers
What is it about your product or service that sets it apart from competitors? Use these strengths to address the fears of your potential customers by offering a guarantee.
Are your customers concerned your product will fail to work when they need it most? If your product or service is superior, and you believe it won’t fail, guarantee it.
Are your customers worried they aren’t getting a good deal? Offer a 100% satisfaction, no questions asked, money back guarantee. That way if they find a cheaper product or service somewhere else, they can do something about it.
Are they worried about getting it in time? Address this fear with a ‘next day delivery’ or ‘within the week delivery’ guarantee.
Are you putting yourself at risk?
It may feel like you are taking a risk by providing a ‘guarantee’. You may be concerned that your customers will take advantage of you, but the truth is very few customers are actually likely to take you up on the guarantee. Think about it like this;
- Are you selling a service or product that you believe in?
- How often do you receive complaints from customers?
- When was the last time a customer asked for their money back?
If you are selling a quality product there is no reason for the customer to ask for compensation. If someone was to ask for compensation, chances are they would have asked for it whether you advertised the guarantee or not.
Guarantees solidifies your claim, showing the potential customer that you really believe in your product and service. This allows the customer to feel more comfortable. Using guarantees may result in some additional costs, but the increase in leads and sales justifies the cost.
Step 3: Choose your guarantee
There are a number of options to choose from when generating your guarantee. (We have already mentioned a few in the previous step.)
You want to offer the potential customer the strongest promise you can make. Here are some common examples;
Money Back Guarantee
Consumer laws in most countries require you to offer a money back guarantee, so you might as well get the greatest benefit out of it. Most customers won’t actually ask for their money back. By advertising a ‘Money Back Guarantee’ you are simply lessening the perceived risk in the mind of the customer. This makes it easier for them to justify going forward with the purchase.
Money Back Guarantee + Keep The Bonus For Free
This is a technique to get your potential customers thinking about what they will miss out on if they don’t purchase, and incentivise them to think that there is no risk. Offer a bonus with your product and put in the guarantee that they keep it, even if they return the main product before 30 days.
For this to be a cost-effective technique the bonus must be a high-perceived value product but at low-cost to your business. Information products and eBooks are often a great Keeper.
12 Month Money Back Guarantee
If you are selling a product that may be considered an investment, it is often a good idea to advertise a ‘12 Month Money Back Guarantee’. This simply lets the customer know that the product will last. It may cost them money initially, but the investment will pay off in the long run.
100% Satisfaction Guarantee
This can really help to lessen the risk factor in the minds of potential customers. They don’t have to find a fault or issue with the product. All they have to do is provide proof of purchase (receipt) and advise they are not satisfied with the product or service.
If you are confident in your courier, guarantee a swift delivery time. This might be something along the lines of; “Next business day delivery if you post your item within our Express Post network on a business day.”
If that is out of your control, you can guarantee the time it takes to get it shipped. This can communicate in the mind of your customer that the products are stored locally, and don’t have to be brought in from overseas.
Step 4: Write your guarantee
It is important to carefully consider the wording and make sure the offer is clear and easy to understand. Here are some tips to consider when writing your guarantee;
Tip #1 – Have a positive spin
Put a positive spin on the guarantees. Rather than offering a ‘Money Back Guarantee’ or ‘Full Refund If Not Satisfied’, offer a ‘30-day Risk-Free Trial’ or ‘Examine it, try it, use it for a full 30 days without risk’. This takes the focus away from the risk and changes the customers thinking so they feel that they have nothing to lose by investing in your product.
Tip #2 – Be specific
Being specific makes nearly any statement more believable and therefore more persuasive. Be sure to include what results you are specifically guaranteeing (e.g. 5kgs in 5 weeks). If you are offering a ‘money back guarantee’ consider including the cost of postage in your return. This information will act to subdue any reservations your customer has about investing in your product or service.
Tip #3 – Make it memorable
Don’t let your lawyer write your guarantee. You want it to be bold, catchy and memorable so your product stands out against that of your competitors. In saying this you will also want to make the details of the guarantee accessible for your customers. A long and detailed guarantee will make your customer more comfortable and reduce the perceived risk in their minds.
Step 5: Where to use your Guarantee
You want the guarantee to be fresh in a customer’s mind just before they come to the call to action whether that be call, enquire online or buy online.
Call to actions usually, exist at the top and bottom of website pages. So guarantees are commonly placed at the top and bottom of pages also.
However, if a guarantee is your point of difference or unique value proposition (you guarantee when no one else will), then this needs to be presented in the header of the page and promoted where possible.
Step 6: AB test your guarantees
You may have a few guarantees that you think will work. Talk to your digital marketing team or agency about AB testing the guarantees on the website.