Most people clutch their chest and hyperventilate when I suggest they adopt...
...a money back guarantee. They're petrified at the thought of handing money back.
Fact is, a strong guarantee DRIVES more NEW customers than all the chest pounding, bragging and proclamations of greatness you could ever come up with.
I credit my unconditional money back guarantee with our rapid rise from $12,000 to $149,000 a month...
Risk reversal is the most powerful way you can get people to try your product. Risk reversal is simply saying: If you don’t like it, I’ll give you your money back.
Will you get burned occasionally? Yes. Very occasionally. My experience is that you’ll get taken advantage of less than 1% of the time.
If you’re handing out a bunch of refunds, you need to figure out why. It might be that you have a problem with your product or service. Rarely will it be boneheaded customers.
Look at this through your prospects eyes. There are two pizzerias, with two front doors:
- One says: NO checks. NO refunds.
- The other one has this: I Guarantee your complete satisfaction - 100%. Should you be disappointed for any reason – I will refund your money.
I feel much better about door number 2... don’t you?
Now, I know there are certain places and neighborhoods where a guarantee might get abused. Some people are not the least bit embarrassed to make up a lame excuse to get a free meal.
I’ve heard them all. I’ve even had some scumbags say they wanted their money back because the free salad I sent along with the order was too small. One person wanted a refund on the entire order because the 2-liter of Pepsi wasn’t cold enough.
Put your guarantee on everything. It will increase your sales in far greater numbers than the few who take advantage of your good will.
And if you're still afraid to plaster a guarantee on everything, read this short story... then decide.
A tale of two ponies (by Jay Abraham)...
A father was looking to get his daughter a pony for her birthday. He saw two ads in the newspaper. He called both.
The first person told how the pony was healthy, good with kids, and was a bargain at only $800. If the father liked, he could buy the pony and take it home that evening.
The second person said: “My pony is kind and gentle. I’m sure your daughter would love her. But I’d feel better knowing for sure. If you’d like, I can bring the pony out to you. I’ll be happy to bring enough hay to last a week or so. I can stop by a couple of times to clean up a little, and see how things are going.”
“If, after a week – you decide to keep the pony, you can pay me then. I’m asking $800 for her, and she’s worth every penny. And, if you decide that things just didn’t work out – that’s fine too, I’ll come out and pick her up, and you’ll owe me nothing.”
Well, which pony would you buy?
You immediately multiply the crowd pulling power of any ad you put out by featuring a strong guarantee as the main attraction.
My guarantee was the "main feature" in all mailers, ads - even radio...
Listen for yourself...
Believe me... if I could use only one single marketing tactic... it would be a guarantee.