How to Convert More Sales By Using The Power of A Guarantee
Offering a guarantee is a great way to make it easier for customers to buy. It takes the risk out of the purchase for them, as it gives them an out if they don’t like the product. Psychologically, it also gives them confidence in your product – as why would you be offering a guarantee if you weren’t confident in your product? Now, to be clear, make sure you do offer a great product before you whack an awesome guarantee on it!
For example, if you have a mattress company, you could offer a guarantee and word it like this: “Try our mattresses risk free for 30 days – In the unlikely event that you’re not 100% satisfied with your mattress we will give you 100% of your money back.” A guarantee like this takes the risk out of buying for your customers and gives them confidence in your product. Most people won’t take advantage of the guarantee and the amount of returns you’ll have versus the increase in sales will be well worth it.
And having said that, it’s often best to be fairly laid back on your guarantees. If you have crazy fine print or rules to claim the refund, you’ll just encourage chargebacks, piss off your customers (potential future buyers), etc.. It pays to be nice and laid back to an extent.
So consider offering a guarantee that takes the risk out of the purchase for the customer (make sure you have a good quality product that you’re willing to back). Make your guarantee bold and visible, and the amount of extra sales should far outweigh those that make use of the guarantee.
For other tips on increasing your sales, check out his book: 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!
The Trick to Keep Your Customers Continuously Purchasing From You: The Benefits of A Loyalty Program
It’s often way more effort and expense to find new customers than to sell again to your current customers. So how can you persuade your current customers to continuously purchase from you? One way is to put in place a loyalty program that keeps them coming back for more.
A loyalty program is a great way to encourage customers to keep purchasing from you, make them feel special and reward and thank them for their continued business. Most loyalty programs involve rewarding customers when they buy regularly from you or have purchased a certain amount from you, whether it’s in free products or discounted future purchases.
For example, think of your local coffee place. Many local coffee shops have a simple punch-card loyalty program, where you purchase 5 coffees and receive your 6th coffee free. The reward, of the free 6th coffee, encourages people to keep coming back to the same coffee place to indulge in their caffeine kick.
Think about how you can encourage and reward your customers for their loyalty. Implement a loyalty program that rewards customers, through free products/services or discounts for future purchases, when they regularly purchase from you.
Want more tips on retaining customers and other money making marketing strategies? Check out this book here 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!
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