Glad you asked because we'll discuss risk reversal or fundamentally...your guarantee. No matter what you sell, there should not be any issue in guaranteeing what you sell.
With all the services or products out in the world, how would you stand out and simultaneously, take all the risk away from your customers?
In the event you don't have a lovely product or service or you get lots of complaints about it, you need to solve that issue before you start using risk reversal.
Here is an elderly example of risk reversal that I think will drive the point home a small better for you...
A couple desired to buy a pony for their daughter. They went to dealer who said if the pony he chosen wasn't right, he could bring it back and exchange it for another. The cost of the pony was 1000.
This is commonplace amongst horse dealers and is their idea of risk reversal.
You might be thinking well that is a great guarantee or a great way to take the risk away from the transaction.
However, the customer is still locked in to having to get another pony from that dealer, right?
Now, compare this risk reversal strategy or guarantee from the second dealer. The next dealer says...
"It's important your daughter is happy together with her pony in every way. take the pony, let your daughter look after it and try it out for weeks. I'll give you the hay to last in the coursework of this period. If your daughter is happy with it, pay me for it then. If not, I'll come and collect it, and tidy out your stable."
The dealer also understands that one time the daughter gets the pony home, she is going to fall in love with it. You may have heard the elderly sales technique of the "Puppy Dog Close"?
This second dealer knows the pony is a lovely pony, the customer has a trial period and there is nothing to pay until happy.
No Way!
I guess in this example will call it the elderly "Pony Close". One time his daughter gets that pony home, do you think she'll need to give it back?
Proper risk reversal gives you the competitive advantage to outsell your competitors lots of times over.
Even if the cost was more at 1500, which do you think the parents would pick to buy from? That is the power of great risk reversal.
The second offer to the man looking for the pony...Made it a no brainer. Here's my query for you...
In the event you do have a guarantee in your business now, is it taking most of the risk away from your customers?
If don't have a guarantee or a lovely risk reversal in place, what could you do to immediately start making your customers not only feel safer, but also feel that the risk is all on you? You think on that and I'll catch you next time.
I must go tidy up after this pony jogging around my office.
With all the services or products out in the world, how would you stand out and simultaneously, take all the risk away from your customers?
In the event you don't have a lovely product or service or you get lots of complaints about it, you need to solve that issue before you start using risk reversal.
Here is an elderly example of risk reversal that I think will drive the point home a small better for you...
A couple desired to buy a pony for their daughter. They went to dealer who said if the pony he chosen wasn't right, he could bring it back and exchange it for another. The cost of the pony was 1000.
This is commonplace amongst horse dealers and is their idea of risk reversal.
You might be thinking well that is a great guarantee or a great way to take the risk away from the transaction.
However, the customer is still locked in to having to get another pony from that dealer, right?
Now, compare this risk reversal strategy or guarantee from the second dealer. The next dealer says...
"It's important your daughter is happy together with her pony in every way. take the pony, let your daughter look after it and try it out for weeks. I'll give you the hay to last in the coursework of this period. If your daughter is happy with it, pay me for it then. If not, I'll come and collect it, and tidy out your stable."
The dealer also understands that one time the daughter gets the pony home, she is going to fall in love with it. You may have heard the elderly sales technique of the "Puppy Dog Close"?
This second dealer knows the pony is a lovely pony, the customer has a trial period and there is nothing to pay until happy.
No Way!
I guess in this example will call it the elderly "Pony Close". One time his daughter gets that pony home, do you think she'll need to give it back?
Proper risk reversal gives you the competitive advantage to outsell your competitors lots of times over.
Even if the cost was more at 1500, which do you think the parents would pick to buy from? That is the power of great risk reversal.
The second offer to the man looking for the pony...Made it a no brainer. Here's my query for you...
In the event you do have a guarantee in your business now, is it taking most of the risk away from your customers?
If don't have a guarantee or a lovely risk reversal in place, what could you do to immediately start making your customers not only feel safer, but also feel that the risk is all on you? You think on that and I'll catch you next time.
I must go tidy up after this pony jogging around my office.
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