Do you want new customers ?
How often do you recall seeing a 100 % money back satisfaction guarantee offered or say a 100% quality guarantee ... or your money back or perhaps it will be redone free of charge ?
We do hear about them and if we aren't a regular customer, this offer is one that is warmly received. Reason being, a guarantee is what gives our prospects (future clients) the confidence to invest their time and money in us, by giving them the confidence that if they are not happy, we will look after them, no questions asked...
How can we as business owners "stuff up" a guarantee?
If we put too many clauses, restrictions, conditions on the guarantee, we dilute the offer so much that people don't trust it or they can’t be bothered...
Let me give you an example...
I purchased an item from WA Salvage a few years ago (when WA Salvage was still around ...showing my age) and I noticed that exactly the same item was available at Bunnings (not knowing that they were owned by the same group) I took the receipt to Bunnings and requested that they honour their guarantee... what do you think they did?
They pulled out every clause under the sun to deny my refund, they quoted that "WA Salvage was not included" when in actual fact it would make sense to keep the money in the parent company, wouldn't it? Then they todl me that obsolete, sale, trade items were all not included (fair enough ...this item was not in any of these categories) and finally advised me to return the item at the WA Salvage store thatI had purchased it from and come back to them and they would process the sale at the cheaper price... None of which I could be bothered doing... They lost a customer for 5 years out of that convoluted guarantee policy....
Make your Guarantee easy, transparent, powerful and generous!
The simpler the guarantee the more respected you are as a business ...
Do you remember when at the start of the economic down turn, all the car dealers were preparing for the worse... "Batten down the hatchet" was the cry... One company was generous, came from the source of every purchasers pain.... the uncertainty of their economic future based of the word around the economic recession....
"Certainty, in uncertain times"
Hyundai vowed that if you should lose your job in the year following the purchase of one of their cars, you could return it and they wouldn't make you pay any more... Hyundai's guarantee offered peace of mind for someone who had fear about their job security.
In real estate, agents have been offering to purchase a vendors house within 90 days (at an agreed price) if they could not sell the house in that period of time and finally in New Zealand, fertility treatment is being guaranteed that if you don’t fall pregnant within 3 treatments, you will receive 70 % of your money back (full payment upfront no refunds if you fall pregnant after the first treatment) EVERYONE is happy!
A guarantee removes the risk for a buyer who doesn't know you or has not used your services before...
Some more examples of great guarantees....
- 100 % money back guarantee, no questions asked ! If you dont believe you have received total satisfaction and value from a mentoring session..................... ABC BUSINESS IMPROVEMENT
- 200 % fresh guarantee ! If your produce is not up to your standards in freshness and taste, we will give you a 200 % refund on the purchase value of the produce purchased .............Super IGA
Some companies provide a 400 % guarantee for their products and service..... “Why you ask, they must be insane”, I hear you say.... Well the reason is, the amount of business you will pull in, far outweighs the 1-5 % of people who may be just interested in ripping off the system....
The guarantee is also a way of enforced “Quality Control" .... Everyone can provide a guarantee for their goods or services and once you do .... Promote it from the roof tops !
I was coaching a lady from NSW this afternoon and she believed that she had the most reliable form of hair removal ever invented and she offers a 100 % money back guarantee that if the hair removal treatment that she provided doesn't work for life or isn't the best you've experienced, ever ...she will redo her services (that go into the thousands of dollars) free of charge or give you your money back... Not bad at all hey?
If you would like to discover what your guarantee could be, drop us an email at ABC Business Improvement and we will help you discover what it is for you and your customers...
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Bringing it all together, knowing what your Customers REALLY want !
Our customers speak with their wallets, or their feet or through their lack of referals.... Want to know what they really think of you?
How strong is the weakest link in your team?
How do you rate your sales/operations/customer service provided by your team? Do they provide an exceptional experience for your customers and prospects or would you not wish them up on your worst enemy?
Do you want new customers ?
A powerful way of generating new customers is to remove any "risk" that they could perceive, from doing business with someone they dont know... Provide a water tight,simple and easy guarantee !
Want to know how to build your profits by 400 %
The majority of your profits come from a small group of your clients ...we cal them your "A" list. Do you know who they are or how to get them to spend more with you, more often ? Would you like more clients just like them? Absolutely !
The impact discounting is having on your business
Have you ever done the numbers on the impact discounting has on your business profit ? Would you like to know how to turn discounting into value adding and grow your profits?
Do YOU have the symptoms of a "crack" addict ?
DO you often run from pillar to post, constantly chasing your tail, having to put out fires and fix up mistakes your team members (or you)have made ? Want to know how to fix this reactive habit for good?
Lead generating strategies that work !
If you aren’t keeping your finger on the pulse by actively seeking customers through multiple marketing strategies how can you expect to grow your business? So, when it comes to growing your business, you are in one of 3 places The driver’s seat The Passenger’s seat, or Locked in the boot, "bound and gagged" So where have you been? DRIVING the business forward, on the front foot and in control? WATCHING things go by (hoping other people will give you what you need)? or PANICKING, in a spin and out of control?
Grow your profits by 400 %
Are you aware that 20 % of your clients account for 80% of your profit? Would you like to know how to increase your profit by 400 % using the 80/20 Pareto rule ?
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If you are open to new ideas and keen to improve the performance, efficiency, growth and profitability of your business, you are in the right place.