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July 06
Edition

Pages in PDF

Regular
Features

› The Fat Lady
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› Your Views

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› Marketing Advice
  with Andrew Hickinbotham

› Family Issues
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  Competition

› Competitions

Here's An Offer You Can't Refuse

By Andrew Hickinbotham

Being mindful that the majority of our advertisers are small to medium business, Andrew’s column (our marketing expert) is designed to assist our readers and customers to achieve the most from their businesses (and their advertising dollar).

As a marketing expert, I find that business owners tremble with fear whenever I suggest they give an unconditional guarantee for their products and services. They’re quick to rattle off any number of excuses why they don’t and won’t.
Won’t their customers and clients simply take advantage of the money back guarantee and abuse their generous offer? It’s hard to argue with this mindset. But yes, absolutely, some of your customers will ask for a refund and some will take advantage of it. But a lot more will end up doing business with you simply because of your guarantee. Like insurance, you’ll win business by covering the risk many consumers feel when they hand over their readies. The sales will always outweigh the returns by a significant factor.
Have you noticed how many stores now offer the lowest prices, or they will beat it by 10 per cent? There must be some method to this perceived madness. There is. The stores do this secure in the knowledge that only a few customers will really take them up on their offer. It takes away the risk, but also puts the onus back on the customer to prove them wrong.
Putting aside the legal requirements of compliance and warranties for various industries, ask yourself what would happen to your business if you did offer a rock solid guarantee? How many hairdressers claim to re-do or fix your cut if you are not 100 per cent satisfied? How many restaurants display on their menus an unconditional money back guarantee if you are not happy with the food provided?
I’ve just chosen two simple examples which are often taken for granted, and turned them into potential selling points. Stating your guarantee loud and proud might just be the trigger for someone to make that purchase. It’s that simple.
So be upfront and very specific with your guarantee. Spell it out and make it exceptional, clear, memorable and quotable. Display it on all your promotional materials.
Even better, offer a super strong 110 per cent money back guarantee- an extra 10 per cent just for the inconvenience. No questions asked. Now how scary is that? But at the same time, what a powerful motivating force for customer conversion.
Stand by the service and the products you supply. If they are of high quality then you have nothing to fear. After all, why are you in business? If anything, you stand to gain a busload of loyal fans who will be happy to boost your bottom line no end.
Let me know how you’re going in your business. I’m keen to hear about the particular challenges you face with your customers. In exchange, I’ll offer you a free marketing assessment. And that’s a guarantee.

makeovermarketing@netspace.net.au

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