When you want more customers guarantees can be a way of reducing customer stress.
They reduce the anxiety of the unexpected happening. This means your customers do not have to play the mind games of “what if something goes wrong”.
And this helps simplify the buying decision for your customers.
However not all products or services need to offer guarantees. It depends on what you sell, market factors and the cost to your business.
Here are some factors to consider.
Types Of Guarantees
Before you jump in and offer guarantees you need to decide what type you are offering.
Remember the more you add the more complicated it can be for your business.
A price guarantee means that whatever the circumstance the price they pay is what you offer.
A timing guarantee is you will deliver at the time you say you will.
A result guarantee means you will deliver the results agreed upon with your customers.
Why Offer A Guarantee?
The question to answer – is the offer of a guarantee important in the buying decisions of your customers?
A flat price guarantee is of value to those who are on a budget whether it is a consumer or business customer.
A timing guarantee can be important for those who place their time high on a value list.
A service level guarantee could be important when delivery is a make or break deal. For example if you offer products online then a guarantee of when and how they will receive can ease their minds of online buying.
Sometimes your guarantee can be simple symbols, such as a bank’s seal if you use their merchant services.
The symbols need to be easily recognised by your customers. And often these are seen as relieving any anxiety they may have when money is involved.
A key point with guarantees is to make sure you have a valid reason for offering them otherwise you may find they cost your business.
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