 Bernadette Doyle
In my opinion, there is no contest here. After over 11 years of
being in business, I believe that guarantees are essential, for the following 3
reasons.
1. It's Bad Business To Have Dissatisfied
Customers...
While there certainly are dishonest people who will
take advantage of your guarantees, the majority of people, in my experience, are
good and decent and have genuine reasons for requesting refunds. Think about it,
wouldn't you rather those customers were talking to YOU, giving you suggestions
to improve your product and service, than running around all over town
bad-mouthing you?
It's been shown over and over, that a complaining customer who gets their
problem resolved, is actually MORE loyal than a customer who never had a problem
in the first place. So just from the point of customer relationship, you MUST
offer a guarantee.
2. The Extra Sales You Generate Far Outweigh
The % Of Returns
Many business fortunes have been built (and
resurrected) on the strength of guarantees. Lee Iacocca turned around Chrysler
when he said 'If you want to know who builds them better, take a look at who
guarantees them longer.' I know what you're thinking. That's a big car company
and has no relevance to you as a small business owner? Not so. Whatever business
you are in, offering a big, bold guarantee inspires confidence.
A guarantee is your way of saying to your customers, 'I'll take the risk'.
For a hesitant prospect, the guarantee can be the deciding factor that finally
nudges them into action. I know you might be concerned about people 'taking
advantage', and the truth is, there are a couple of low-lives out there who
will. But ultimately the extra sales you will make will far outweigh the number
of returns (genuine or not).
3. If YOU Can't Stand Behind Your
Product Or Service, Then Who Can?
If you are selling a product
or service that you cannot strongly and fairly guarantee, then maybe you should
find something better to sell. Even if you are in a situation where results are
dependent upon the client, you can find something to guarantee eg 'If you
complete all the assignments, turn up to all the sessions and STILL don't get
the promised results, then it's free.'
Even if you are selling something where the results CANNOT be easily
predicted because there are so many variables, you can find SOMETHING to
guarantee eg 'you'll never be kept waiting more than 10 minutes for your
appointment', 'if at the end of the one hour session you don't feel like you've
just had a weekend away, then it's free.'
The bottom line is
guarantees WORK, and if you aren't using them in your business, you are almost
certainly missing out on sales and opportunities, So what are you waiting for?
Go guarantee something!
© 2007 Bernadette Doyle Bernadette Doyle publishes her weekly Client Magnets newsletter for trainers, coaches, consultants, complementary therapists and solo professionals. If you want to get clients calling you instead of you calling them, then get your free tips now at www.clientmagnets.com
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