Boost Acquisition with GuaranteesMay 11, 2021
Clients that have never used your services before are nervous to try you out. Why? Humans are creatures of habit. We love routine. And a break in the routine can be scary because the outcome of trying something new is uncertain. You can calm this fear by offering a solid guarantee.
We use two guarantees to reverse the risk of trying us for the first time. The first guarantee is a Double Your Money Back Guarantee. If, for any reason, a client is not thrilled with the quality and service they received, we offer to re-process the item they are concerned with. And if they are still not thrilled with the results, we will offer their choice of either a credit or refund in the amount of double the original cost they paid for the item.
The second guarantee we use is a $5 Broken Button Guarantee. If a client finds a missing or broken button on their Laundered Business Shirt, we will give them a $5 credit on their account. If they are really upset, we will give them $5 cash or a check.
Yes. You read that correctly. We have been using these guarantees for almost a year. I can count on one hand the number of clients that have actually taken us up on this guarantee. However, we are averaging 25-40 new clients across our stores every business day. And if you think about it, would you give someone their money back, or even double their money back if they are VERY UPSET? I bet you would. So, if you don’t offer the guarantee, you will not benefit from risk reversal.
Does this only apply to new clients? Technically no. Once they become a client, we still will honor both of these guarantees. But we are not constantly reminding existing clients of the guarantees. That is because some clients in your bottom 80% will take advantage of this offer. But new clients to the business will not.
Where can you offer these guarantees? New Mover campaigns, targeting new clients, a special report or deliverable sent to new clients who give you their email on your website, and whatever mechanism you use to get clients to join your route. It will put your clients at ease and reverse the risk of giving you a shot.
The other benefit of offering a guarantee is that it shows you are very confident in what you are offering and your team’s ability to deliver it. It will raise the bar for what you are delivering to your client. If you need help crafting your guarantees, let me know. I would be happy to help.
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