*Putting the risk on you
*A strategy that can easily cause customers to spend more with you
Ready? Let's Roll...
With all the products or services out in the world, how would you stand out and at the same time, take all the risk away from your customers?
How about in your copy, how do you make it risk-free or less risky to your target market?
Glad you asked because we're going to discuss risk reversal or basically...your offer and guarantee.
No matter what you sell, there shouldn't be any problem in guaranteeing what you sell.
If you don't have a good product or service or you get lots of complaints about it, you need to solve that problem before you start using risk reversal.
Here is an old example of risk reversal that I think will drive the point home a little better for you.
You may have heard this one, but either way, it's important to read it again below...
You see, a couple wanted to purchase a pony for their daughter.
They went to one dealer who said if the pony she chose wasn't right, she could bring it back and exchange it for another. The price of the pony was $1000.
This is typical of horse dealers and is their idea of risk reversal.
You might be thinking well that's a great guarantee or a great way to take the risk away from the transaction, right?
The customer is still locked into having to get another pony from that dealer.
Now, compare this risk reversal strategy or guarantee from the second dealer. The next dealer says...
"It's important your daughter is happy with her pony in every way. Please take the pony, let your daughter look after it and try it out for two weeks. I'll provide you with the hay to last during 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."
This second dealer knows the pony is a good pony, the customer has a trial period and there's nothing to pay until completely happy.
The dealer also understands that once the daughter gets the pony home, she's going to fall in love with it. You may have heard the old sales method of the "Puppy Dog Close"?
I guess in this example will call it the old "Pony Close".
Once his daughter gets that pony home, do you think she'll want to give it back?
Even if the price was more at $1500, which one do you think the parents would choose to buy from?
That's the power of great risk reversal.
Proper risk reversal gives you the competitive advantage to outsell your competitors many times over.
The second offer to the man looking for the pony...Made it a no brainer. Here's my question for you...
If you do have a guarantee in your business now, is it really taking most of the risk away from your customers?
Now, you may be wondering what else can be added to increase responses?
Theirs is a lot and we can discuss some more later, but to name a few...
Whether you're selling online and or offline, add what we discussed today and...
Really know your target market, have the right targeted-direct response copy created, have your message placed in the right medium or place, have a guarantee in place and test...test...test.
If don't have a guarantee or a good risk reversal, 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 because I have to go clean up after this pony running around my office.