The ten characteristics of a compelling guarantee
Creating a compelling guarantee for your products and services will increase your number of buyers, they will buy from you more often and recommend you to others.
By offering a guarantee, your business is taking some of the risk of failure or late delivery on itself and away from your buyer.
For example, a small family upholstery company we know won a £120,000 contract to supply the Celtic Manor Resort Hotel in Wales.
They beat much larger competitors because they gave their delivery-promise ‘teeth’.
They offered a money-back guarantee if they failed to deliver the furniture on the agreed schedule of dates. The other two (much larger) upholstery companies who had tendered for the business didn’t offer such a guarantee and lost the £120,000 contract.
Their bravery in offering such a robust guarantee was rewarded because it was the most attractive.
REMEMBER A guarantee can give your business a competitive edge.
If you’re wondering how exactly to construct a compelling guarantee for your business here’s the 10 characteristics you must consider.
1. Be relevant and meaningful – Successful guarantees must be relevant and meaningful to your buyers
2. Be credible and believable – Credibility is reduced if you add multiple conditions to your guarantee
3. Be clear and concise – A successful guarantee must be simple, easily understood and concise
4. Be committed to customer satisfaction – A successful guarantee is not a marketing gimmick
5. Make your guarantee blatant – A successful guarantee must be explicit, blatant, obvious; not implied, tentative or hidden
6. Use precise language – A successful guarantee must use precise language about the things the guarantee covers
7. Make your trigger easy – Use a clear, simple and inviting mechanism for triggering the guarantee
8. Respond quickly – A successful guarantee must respond quickly to any customer triggering your guarantee
9. Educate and train all your people – Train your people on how to respond to guarantee requests – ‘speed-is-of-the-essence’
10. Be stronger than your competition – Create successful guarantees that are perceived as more powerful than your competitors
Click here to learn the importance of a great guarantee for your products and services.