Did you know that one of the easiest ways to increase business sales is to add guarantees to your products or services?
It’s a simple and easy strategy to implement. By offering a guarantee, you’re providing assurance to your customers and reducing the risk they have to take in making a purchase.
So what’s the reservation?
It’s simple. Fear.
Businesses fear that they will get a high level of returns, wasting their time and effort. This is an obvious concern, but one that is easy to alleviate.
Even with a much higher level of returns, cancellations, or whatever your guarantee would provide, there will still be a bigger increase in business sales than if the guarantee was not present.
Think about it like this: if adding a guarantee increase business sales by 40%, of which 15% of sales requested a refund, you have still increased sales by 25%.
How would a 25% increase in sales affect your business?
If your value of services, margins, customer retention rates or lifetime value of clients is high, then this can be a very profitable marketing strategy to implement.
Types Of Business Guarantees
Here are a few examples of different types of guarantees you could implement and test with your products or services to increase business sales:
- First month free
- 20% off first order
- Refer a friend scheme
- Prize draws
- Free giveaways
- Free trial period
- Money back guarantee
- Risk free
- Satisfaction guarantee
- Lowest price guarantee, or price match
- Buy 2, get 3rd free
Increase Business Sales Video
Increase Business Sales By Adding Guarantees
Understand which guarantees work best for your business, products and services and you could increase business sales by 20-40%, overnight.
Have you tried testing guarantees yet?
What guarantee do you think would increase business sales the most at your company?
Increase Business Sales Video Transcript
This was taken directly from YouTube, so the transcription quality is pretty bad…