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.
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Stuart is a digital marketing strategist living in Kent, UK. Stuart blogs at StuartJDavidson.com where he shares his extensive freelance and corporate marketing experiences. He is also the author of "How to Win in Social Media".
Talk about clarity! Adding a guarantee helps folks get clear on your business offerings. If you believe in it you will have no fear around losing money on a product or service. People will keep buying your offering in increased numbers so no need to fear loss, or, to get into fraidy cat mode on a return or 2 LOL 😉 Good post for doing the inner game of business right 😉 Thanks for sharing!
