You need a compelling offer to be part of your customer experience – starting with a potential customer, writes Sabri Suby, author of ‘Sell Like Crazy.’
Great customer service, having a great team, being responsive to your customers’ needs,
outstanding quality, having a great reputation, or being innovative, are not irresistible offers that motivate people to do business with you. While they are valid reasons why people should do business with you, they aren’t enough on their own.
A Compelling Offer is Infinitely More Powerful Than a Convincing Argument
The idea of a compelling offer is to remove all friction for a prospect to buy from you. You want to reverse that risk and burden and make it an absolute no-brainer for your prospects to take you up on your offer.
In other words, you need to offer customers a guarantee. For example, a guarantee on the quality of your product or services, a price-match guarantee, a guarantee that your product won’t have specific problems, or a guarantee that your product or service will deliver certain results or last for a certain period of time
Your guarantee should really aim to reduce all the main risks associated with purchasing your product or service by covering the important or main factors associated with the purchase.
If you’re still not quite on the same page, let me ask you this question: What would you do if the customer bought from you, and then, for one reason or another, they weren’t satisfied with what they bought? How would you make it right?
Would you tell them, ‘bad luck’?
Would you say, ‘Look, you’ve bought it, it’s your problem now’?
Or would you work with them to ensure they’re happy, and add even more equity to your brand name by really helping them?
The answer should be obvious.
However, if it’s not, let me bring something else to your attention. By law in most countries, if someone buys from your business, and something is defective or doesn’t perform as advertised, or could be perceived as not being truthfully advertised, the consumer is entitled to compensation with either repair or replaced goods, or part of them; resupply or fixing a problem with services, or a part of them; or providing compensation to the consumer or end-user.
In Australia, consumer protections are enforced by the Australian Competition and Consumer Commission, so you already have a guarantee. Whether you like it or not, it’s built into everything that’s sold in this country. So, if you’ve already got a guarantee, then why not advertise it? Use it to your advantage to reduce buyer friction and increase your selling power.
A powerful guarantee can triple sales, and they’re called upon less than five percent of the time. So, if you run the math, you can tell me whether or not you think that’s a calculated play to use this front and centre of all of your marketing.
The Deeper Psychology of a Guarantee
In order to fully capitalise on the selling power of your guarantee, you must grasp the primal psychology behind it.
The primary thing to realise is this: In any given transaction between two parties, there will always be risk present. In most cases, one side will be asked to assume the burden of this risk, and more often than not, it’s generally the buyer and not the seller.
For your prospects, the biggest risk they have is believing your promise to them. In essence, you’re asking them to have faith and believe that what you’re telling them is true. That they should simply ‘take your word for it’ and that they’ll experience the numerous benefits you’re promising.
And who could blame them for being reluctant to trust you? In an age where so many false promises are made and scepticism is so rampant, prospects must be very careful about accepting anything you tell them. Unfortunately, in every market, there are people out to make a quick buck by promising a diamond and delivering a hunk of cheap glass. Even if you have plenty of proof, testimonials, and other credibility elements to showcase, your guarantee is one of the most important credibility elements in your offer. You should go beyond thinking of it as a simple ‘risk reversal’, designed to push fence-sitting prospects over into taking action on your offer. Instead, think about your guarantee as a proof element to your overall offer – proof of how confident you are about delivering on every promise your offer makes.
The primary function of your guarantee is to make your prospect feel safe and secure that they’ll get everything you’ve promised them or their money back.
Does it Make Dollars and Sense?
Don’t worry, I know what you’re thinking: ‘If my customers can try the product before they pay, and return it without owing a cent, surely they’ll take advantage of me and I’ll lose money hand over fist and go broke!’ Know this, for every dishonest scammer who takes advantage of your liberal guarantee policy, you’ll get five honest prospects to say ‘yes’ when they otherwise would have been too uneasy or sceptical to buy.
This has been proven time and time again in thousands of scientific split tests.
Guarantees Convert to Sales
Businesses that give realistic guarantees show that they want to do right by their customers and have a draw card that helps attract new clients and remove the risk for those customers to give referrals. And in an industry where points of difference and trust are lacking, a guarantee is a powerful weapon.
*This article contains an excerpt from recently launched bestselling book, ‘Sell Like Crazy’, by Sabri Suby. The book is available on Amazon.
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