Have You Got Great Guarantees?
If not, consider the following.
If you want to reassure your prospects and increase conversions, you need to write a kick ass guarantee. Below are three types of product guarantees that we have used for Clients in the past and a few side comments added in for color.
No Questions Asked, Full, Money Back Guarantee
I even amped our guarantee up for a coaching service a few years ago to make it a BETTER THAN MONEY BACK GUARANTEE by offering to donate $100 to my Client’s favorite charity in addition to allowing them to tear up the check they were writing to me (US Customers). Can you guess how many people took me up on that offer? That’s right, ZERO.
Heck, I even have a killer guarantee on my copywriting services and that’s something most copywriters would swear you couldn’t do!
I am NOT saying that no one will ever take you up on your guarantee. More than likely a percentage of people will. Most people who return quality products are freeloaders and moochers who outright plan to rip you off. BUT, the amount of ADDITIONAL SALES you make because of your guarantee will far outweigh any refunds you will need to make if your product quality is reasonable and your bedside manners are a bit above average.
With that said, here are 7 tips to creating a killer guarantee.
1. Phrase the guarantee to make it exciting, if not dramatic.
2. Make it a long guarantee (90 days at least) – short term guarantees can stimulate refunds.
3. Value: offer a guarantee that means something to your target Customers.
4. Use multiple guarantees when appropriate.
5. Unconditional vs. conditional: Primary guarantee should be unconditioned, secondary guarantees can be conditional.
6. Reiterate your promise in the guarantee.
7. Guarantee plus: offer a money back plus something else.
Gurantees are important when you need to:
Encourage people to buy from a new or unknown company
Encourage people to try a new product or unestablished brand
Remove all risk
The phrasing is important (you need to keep it simple) and you need to be firm about your conditions.
Examples:
“We take the privacy and security of your information seriously. We are independently audited by TRUSTe and ScanAlert regularly to verify that our privacy and security measures are state-of-the-art. Further, we stand by our refund policy 100%. If we don’t honor to the refund promise we have made here, you can report us to GuaranteeGuarantee. Finally, we are a merchant many years in flawless standing with PayPal. We provide top-notch live 24 hour customer care to protect that status, and more importantly, to protect the trust you, our customer, have placed in us.”
“I’m 99% certain you’re going to love this product, and that’s one reason why my current return rate is so low. I want to make sure that you’re 100% happy with our services, the product and your purchasing experience which is why I always offer a full, no fuss money back guarantee if it turns out it’s not for you for whatever reason.”
“If after my program you are not completely satisfied, I respectfully ask that you tear up my check. I make this bold guarantee because out of the thousands of programs I’ve presented no one has ever requested their money back. Once again, I give you this guarantee so you can feel completely confident in your decision to utilize my services.”
“We’re so sure that you will be delighted with our new widget that we offer a 90 day money back guarantee if it fails to get the job done in your home”
“We are committed to providing products and services that will exceed your expectations. If you are not completely satisfied, you can receive a refund of the cost, minus the processing fee.”
“We are committed to exceeding your expectations. If you are not completely satisfied, you can receive a refund within 30 days of purchase – no questions asked.”
“We do everything in our power to delight your readers with your new App and to relieve you from additional work – making your experience with BoxOnline a positive one. We are 99% certain that you will recommend our services to others but we want to make sure that you are 100% happy with our services which is why we offer a Money Back Guarantee for 90 days after your App has been launched in the iTunes or Google stores.”
“We Transform Your Publications Into Engaging Apps Within A Week. 99% of our Clients are delighted but we want 100% to be happy so we offer a refund if you are not satisfied with our services.”
When it comes to coaching or consulting services where you spend time to help your Client achieve a particular objective, the wording may need to be tweaked a bit more. Here are a few examples that put the ball in your Customer’s court.
The two step legal logic approach:
At the start of our first session I request that each Client signs a Client Agreement. This makes clear what I am able to help them with, the results they can expect and their responsibilities as a Client towards making a given process work. The agreement is more detailed than what I say on the phone and, importantly, it specifies that the Money Back Guarantee relies on each Client doing their agreed tasks outside of our sessions together.
This combined approach is good for the Client because it is clear and easy to understand. And it is good for the Coach because it places the responsibility back onto the Client to contact you if they’re not entirely happy with their results. Think about it, when a client doesn’t contact you after a session you can now rest in peace, knowing that they’re happy with the result. And if they contact you then you’ve got an excellent opportunity for some high quality feedback that will allow you to become an even better coach in the future. A win-win!
“I offer a money back guarantee. What that means is that after we have finished our sessions together that if you are not entirely happy you can contact me within 30 days and I will either work with you for free until you have your outcome, or refund your money if we both agree that your outcome is not achievable together.”
The one step fair and transparent approach:
Never apologize for asking for a retainer, taking a deposit or asking your customer to explain why the product isn’t for you, but do make sure your terms are friendly, fair and crystal clear.
“I always conduct a free 30 minute consultation to make sure my program suits what you want to achieve. When you book a block of six sessions, payment is up front but if you decide after any session that you don’t want to continue, I’ll refund you the cost of the remaining sessions.”
If you get tons of tire kickers – people who never actually planned to make a purchase or better said, people who planned from the very beginning, to return the product for a full refund, then these examples may suit your needs. The approach is called the no guarantee method but it is still a guarantee policy and it is designed to deter tire kickers. It works best if you have an established brand, a passionate following, clear content explaining what the product is in detail and visible results or testimonials.
Many people who implement this form of guarantee, let readers know that they are super confident that the product will rock their world, if they are committed to making it work.
“I want to let you know that this is a no-refund course and the reason I include this statement is because I work people pretty hard to get them the results that they desire and I’ve found that the ones who are willing to jump in and commit from day one, always do amazingly well. If you have any doubt that this may not be for you or you don’t have enough time to dedicate to the course right now, then please set it aside until you are ready to put in the hours. I hope to see you in one of my future courses when it is the right time for you!”
How about you? What guarantees do you look for in products and services that you buy and what kind do you offer to your Customers?
Have you ever not purchased a product because of the guarantee or lack of one? Let me know in the comment section below.