Are You Losing Sales Because Of ‘Risk’?
When it comes down to it – what holds someone back from buying from you?
Usually the bottom line is fear…
Fear of making a decision…
Fear, in particular of making the wrong decision…
Are they buying the right product or service? Are you reputable? Is this the best deal? Is it good value? And the list goes on…
Those risks often stop your customers in their tracks. Now imagine what would happen if you took that risk away — if you gave the potential customer a Plan B, a back up plan, a way out if you will – even if most will never take it.
At Grow Business Grow® we overcome this basic human fear by focusing on ‘guaranteeing’ the worst case scenario for them as part of the solution.
In other words, we reverse or remove the risk from the customer and put it back onto our business…
Doing so offers you a huge opportunity to increase sales – assuming you’re offering a good quality product or service — what’s holding someone back if the risk is gone – that’s right — nothing!
Better yet, guarantees help differentiate your business from your competitors and that helps prospects choose you over them everyday.
But how risky is it?
What would that mean to your revenue? Could you afford to suffer from one ‘bad apple’ in many to generate sales you wouldn’t have had otherwise? Yes.
And that’s because the risk to you even if you offer an outlandish, over the top, crazy guarantee is usually very low.
In fact statistical research by Christopher Hart, author of Extraordinary Guarantees: A New Way to Build Quality Throughout Your Company and Ensure Satisfaction for Your Customers shows it’s only 0.1%.
So while most people are thinking ‘I couldn’t offer an unconditional guarantee – people would take advantage of it’, in fact the opposite is true; sales opportunities are going begging!
Make it strong and shout about it!
For a guarantee to be effective it must be specific, rather than something generic like a ‘lifetime warranty’.
Ideally try to create a statement that says ‘if this ….. then that’. That is, if this happens — for example our product fails, or our service does less than delight — then we’ll do such and such – for example; refund your money in full, immediately correct the problem, credit next month’s service to your account — to fix it.
Once you have it put it on all your marketing material, encourage your team to talk with customers about it and create signage showing it off.
Remember when you literally guarantee your customers will experience success dealing with you, you’ll be an important step closer to guaranteeing your own success and increased sales.
(And remember this as well; when you have a guarantee you can charge more because of it AND it forces you to do things great — and to do great things.)
Our way of doing things is unique and it’s why it produces unique results for our clients…
We would love the opportunity to help you clear your head on what is the right way for you to accelerate your business…
We highly recommend you watch this step-by-step case study of how we grew Beefy’s Pies into a Famous Aussie Icon from a small stressed out bakery into a family owned chain. Click here to get all the insights into their success…
Or if you have heard enough about how we work with our small business owners, then let’s have an off the record chat about your current situation and see what we can do to immediately guide you…click this link to see what time best suits you.
P.S. Ask if our Boardroom Program intake is open for enrolments…It works best for business owners who see the benefit of having us on as their ‘external partner’ so that they are not alone in the day to day decisions of their business.