Take more risk with a better guarantee for your business success
There is no doubt that a compelling guarantee will give your business a competitive advantage.
Think of it like this:
Two identical products, two identical services, two online book-stores, two hotels.
One of these businesses in every sector has a guarantee in place, one doesn’t. Which one do you choose?
One of the reasons Amazon is so attractive is that it offers an excellent returns policy.
If you want to buy something online it’s the go-to place, due to its level of guarantee.
By offering such robust guarantees Amazon takes a greater risk on itself should something go wrong, a failed product, a late delivery.
What is the balance of risk for the guarantees you have in place for your services or products?
What would happen if you were to shift this risk more towards you, the supplier, and away from your buyer?
When there is no guarantee in place for failure or late delivery then the risk of buying lies 100% with the sceptical or doubtful buyer.
The more you shift the balance of risk to you, the more you reduce buyer doubt.
Provide a 100% money-back satisfaction guarantee and the balance of risk shifts to you. Provide a better than money-back guarantee and the balance of risk shifts even more to you.
Click here to learn the pay-offs to your business when you take on more risk, away from your buyers.
