Step Number 26 “Shift The Risk” To Close More Sales
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When you shift the risk entirely off of your customer’s shoulders and onto your own, an incredible thing happens: far more people convert to paying customers. People who might have been reluctant to purchase because they don’t know you, now become more willing to part with their hard-earned cash.
Shifting the risk is done through your guarantee. There are two factors that make up a powerful, risk-shifting guarantee.
The first factor is an iron-clad, easy to use guarantee of the customer’s full payment being returned if they aren’t happy for any reason. There’s nothing I hate more than guarantees with “weasel clauses” in them. You know, copy like, “You must have tested our hand cream under actual subtropical conditions that emulate or match the exact temperature and humidity in Bora-Bora during the Autumnal Equinox.”
Obviously I’m exaggerating, but putting rigid conditions on your guarantee that few people could ever meet, sucks all of the power out of your guarantee. And it makes you look deceitful by forcing people to meet unreasonable conditions.
So the first factor that must be present to maximize the effects of your risk-shifting is an easy-to-use, easy-to-understand guarantee.
The second factor is the length of your guarantee. Have you ever seen guarantees where the time period is just 10 days? I’ve seen plenty of them, and let me assure you, a short guarantee period like this will kill your sales.
I recommend a guarantee period of a full 12 months. This gives you two powerful advantages. First, it clearly demonstrates to your customers that you put their best interest ahead of your own. By allowing them a generous period of time to use and evaluate your product or service, customers are put at ease about taking all the time they need to prove to themselves that your product fulfills all the promises you’ve made.
Equally important, a long guarantee period tells your customers that you believe in your product and back it up fully. If you didn’t, you’d be offering the same, flimsy 10-day guarantee period nearly everyone else offers.
In case you’re worried about people taking advantage of you and your returns going up due to using a risk-shifting guarantee, there’s good news: Test after test has proven that returns actually go down when you offer a longer guarantee period.
The longer someone uses your product or service, the stronger their sense of ownership becomes. And few people will return something they own when it truly solves their problem or helps them achieve their most important goals.
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