You’re saying, “Hey, look at this fantastic thing I have, just give me some money, and you’ll love what you get.”
Maybe your product is fantastic. Maybe it delivers everything you promise and more.
Then why is the buyer the only one taking on any risk?
They give you money and you’re secure. But they’re not. They’ve got a product that hopefully does what it’s supposed to do.
It’s a lopsided transaction – and that’s why a lot of people don’t buy.
Risk-Elimination Example #1: The Golf Coach
Let’s say you’re a golf coach. Let’s also say you really know your stuff, just nobody else knows it yet.
You’re itching to get some clients and can’t get anyone to take a chance on you. And you have bills to pay.
Say you know it takes at least 4 one-hour sessions with you for someone to get a big result in their game.
Let’s say you offer a package of 4 sessions for $1,000. You’re not cheap, but you know what you’re doing and can deliver results.
You could go out and try to convince people of how good you are. But, the risk is all on them.
If they don’t see any improvement, you’ve got your money, and they’ve just wasted their time and money.
Not a good deal for them. This is a hard sell.
Let’s make things easier.
You still offer 4 sessions for $1,000, but make one change…
You let the potential client know:
“You know what? I know you’re not sure if I can deliver the goods. So here’s what I’m going to do: I know you’ll knock at least 10 strokes off your game with 4 sessions with me.
You may not know this yet, but I do. So instead of asking you to take all the risk, I’m going to guarantee you see at least a 10-stroke improvement after the 4 sessions.
If you don’t achieve that, you pay nothing. How does that sound?”
For a motivated golfer wanting to impress his friends, that sounds pretty good.
All that’s happened here is you’ve shifted the risk from the customer to you.
We’ve seen this ONE simple change have a MASSIVE impact on sales.
At one point we were offering a $2,500 product via videos and webinars. On one webinar we decided to do one thing different: Offer a results guarantee.
That webinar outsold any other webinar we did promoting that product by 500%!
“So great, just guarantee results and my sales will skyrocket?”
Not so fast…
It’s incredibly powerful. It’s the most powerful tool we’ve found for increasing sales of a product.
You have to know what your product can actually deliver. If you get this wrong, you could end up actually losing money. Plus, you’ll end up with a customer service nightmare while you’re losing money.
Let’s take the golf coach example.
Let’s say you’re actually a pretty lousy golf coach. But you just want to make some money doing some golf coaching on the side.
You can’t get anyone to buy your coaching package, so you desperately try to make up a results guarantee that you know you can’t deliver. “But, hey, nobody refunds stuff anyway right?”
Your guarantee works and you get 10 new clients. Sweet! That’s $10,000!
Now you’ve got to deliver. But, you can’t.
So you spend hours coaching these people, who aren’t happy during the coaching. They’re especially not happy after when they don’t see any improvement.
They’re asking for their money back. They’re hounding you by email and on the phone upset about your poor service and their wasted money.
They tell their friends and now you can’t get any coaching clients, even at your new reduced price of $50 an hour.
This is what happens when you guarantee results you can’t deliver.
So the first step is to know what you’re product can actually do.
Once you know that, know what it takes to get that result (such as attend at least 4 golf coaching sessions).
Then, create the guarantee and make the only requirement that the customer perform those minimum steps you know it takes to see results.
So before I set you loose to go create your sales-boosting results guarantee, I’ll leave you with one more example.
Risk-Elimination Example #2: The Ultimate Cooking Pan
Let’s say you’re the proud creator of a super-duper, unscratchable cooking pan.
You’ve talked with customers and know that the main reason they buy your pan is because it absolutely does not get scratched.
There are a lot of people out there who want this type of pan, but don’t know your business and don’t really trust that it’s truly unscratchable.
So you say, “If you order one of our pans and it ever gets a single scratch on it, we’ll give you 100% refund AND we’ll give you a $25 Amazon gift card to buy a different cooking pan of your choice! All you have to do is return the pan to us with the scratch on it – we’ll even pay for the return shipping.”
Now, someone who doesn’t know your brand at all is much more likely to buy.
As a final tip, a way to further increase the power of your guarantee is to name it. Give it a memorable, meaningful name and it will seem even more substantial to the customer.
For the golf coach, the name of the results guarantee could be, “The 10-Stroke Promise”.
For the cooking pan, the name of the results guarantee could be, “The Never Scratch or it’s Free Guarantee”.
The 5 Steps to Immediately Increasing Your Sales with a Results Guarantee
- Think of the main result people want from your product
- Ask yourself, “What can my product actually deliver related to this result?”
- List the critical steps that the customer must follow to get the result you know is possible
- Create your guarantee
- Name it!
Discover How to Use this Guarantee to Create a Life-Changing Offer for Your Product
Crafting a risk-eliminating guarantee is one of three critical components of an irresistible offer.
The other two are (1) building a complete package (you should never sell just your product) and (2) injecting powerful scarcity into your sales process.
Starting soon we’re releasing a four-part video series you can check out here that shows you everything about crafting an irresistible offer. (Plus, you’ll learn our step-by-step process for doing 8-figure product launches.) Click here to get on the early notification list before the first video goes live…
Matt Clark is the Chairman and Co-Founder of Amazing.com, a serial entrepreneur, and investor. He’s been featured on Forbes, CNBC, and Entrepreneur.com.