What is a guarantee?
Yes, I know it’s an offer to give your prospect his money back if he doesn’t like your product but… What really is a guarantee?
I want you to think about this for a few moments….
Did you find the answer you were looking for? A guarantee is a risk reversal for your prospect. Simply put, it takes the responsibility for buying your product from his shoulders and puts it squarely upon yours.
You promise him that he’ll be satisfied with your product no matter what, or you’ll give him his money back. But why should you do that?
Well after telling your prospect all the wonderful things your product can do for him and proudly showcasing your precious testimonials, he is probably thinking, “…That’s good. But should I risk buying this product from you?†And the answer is a resounding NO, unless…
Purchasing anything online is risky. Don’t blame your prospects for being scared. There are more scam artists ‘out there’, ready to steal from innocent people, than there are stars in the night sky (Maybe a slight exaggeration, but I think you get my drift!). Everywhere you turn in life you will find someone who wants to steal from you no matter what and the Internet is no different.
What makes it worse though, is the fact that your prospect cannot see you, he is dealing with a few lines of text and/or a pretty picture on a computer screen.
The only way to really gain his trust is to give a concrete, all encompassing, money back guarantee and to abide by that guarantee no matter what!
If you ask me how long should my guarantee be and I tell you a minimum of 90 days you’ll probably step back in horror. “…What! Give my prospects 90 days to claim a refund – I’ll never make any money and will be broke in no time!â€
However let me tell you something that will make you think a little:
“The longer your guarantee, the LESS chance there is of your client wanting to ask for his money back!â€
I can hear you now “…that doesn’t make sense!†– but let me explain things a little.
If you only offer a guarantee of one week what do you think your client is going to do? He’s going to keep on thinking “…I’ve only got a few days to make up my mind about getting my money back, maybe I’d better do it now – just in case!â€
His foremost thoughts are going to be whether he’s going to lose his money by missing the deadline for asking for a refund. He may NEVER have even looked at your product yet because he’s been too busy with something else. He is consciously aware of the time passing though, and, more likely, than not will ask for a refund just to make sure he doesn’t miss out.
If you extend that guarantee to 30 days, 60 days, 90 days or even longer the pressure is off of him. He’s got time to finish what he’s doing, he’s in no hurry to check your product and learn how to use it properly, the money-back part of your guarantee does not become a priority in his mind. Heck he may even forget about the guarantee anyway!
By offering a longer guarantee you will also increase your sales. This is because your prospect feels safe and secure in the knowledge that he has plenty of time to try out your product and claim a refund if he wants to.
Have a look at this guarantee from Xsitepro they allow their clients to use their product for one whole year – yes, 365 days! – and, if at any time during that period the client doesn’t feel satisfied, they’ll give him a full refund.
It’s a great website building program so just think how many websites the client could’ve built in that year, how much money will he have made before his guarantee period is up? Now that’s what I call a powerful guarantee!
Think about it, this is a brilliant guarantee that takes all the risk away from your prospects.
How about trying this next one?
Don’t collect any money from your prospect before he’s used your product for one whole month, for FREE! Simply collect his credit card info but don’t bill him, let him use your product and towards the end of one month remind him that he needs to return your product or you will bill him.
More than 99% of your clients will want to keep your product now that they’ve experienced the benefits. Want to make it even more powerful? Extend the trial period to 60 days!
This takes every single iota of risk from his shoulders and can get your prospects buying from you in droves!
Giving a money-back guarantee also demonstrates how confident you are in the quality of your product. If for any reason your customer does not like your product or think it is not for him (sometimes a client needs to try it out to make sure), he can promptly ask for a refund and delete the product from his PC. Your prospect cannot lose.
A word of Warning! As an Internet Business owner, you too are at risk from the scammers. There are some people who buy products online with absolutely no intention of paying for them. They offer their credit card number, download the product and promptly ask for a refund. Of course, they still keep your product and even pass it amongst their friends.
Whilst there is not a great deal that you can do about this there are a few steps you can take. Some vendors offer digital encoding products to allow you to lock your products in such cases. One such product is ebook pro (You should click this link just to read the sales letter, it’s quite a masterpiece!)
Another alternative is to keep a database of the people who ask for refunds and if there is anybody who habitually follows this route ban his IP address from accessing your website. You could also ask your payment processor to refuse his credit card as well.
Fortunately this is not so common an occurrence to make trading on the Internet unprofitable, but it is a problem you should be aware of! Rather than worry overly about this though it is wiser to spend your time improving the conversion rate of your sales letter and thus bring in even more revenue.
If you follow this route you will soon find out that your your sales profits far out weigh the refund amounts.
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Stuart Elliott is a world class copywriter who has written numerous stories on sales letters and copywriting. Drop by:
http://howtowritekickbuttcopy.com to pick up a free copywriting power guide.
Article copyright Stuart Elliott 2006 all rights reserved. You may only reprint this artitcle in it’s entirety and you must include this resource box.
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