Effective Guarantee
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Topic
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What is an effective guarantee? Does it make a difference? Do the badges or emblems you see that say 60 day or 90 day money back guarantee really help sales?
Scott Hogue CChH
Scott Hogue CChH
Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
http://www.threestepstowealth.comThe thread on this group that explains it:
http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747
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Replies
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The bigger and bolder your guarantee, the more sign-ups you’ll get, Scott. The more risk you’ll run of returns too. You have to find your own comfort zone and test, test, test. One thing for sure: guarantees help folks pull the trigger on a purchase.
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Scott
something tells me you want to be #1 today!
Sean
Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com
Sean
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Hi Scott,
I tend to think that offering a guarantee indicates a lack of belief in one’s product, so I don’t offer one.
However, if somebody requested a refund, I would send it immediately. -
Statistic say that giving a guarantee shows you are confident in your product and that you believe in it so much that giving a guarantee is only for the customers piece of mind and you don’t think they will need it. Also many of the affiliate platforms like clickbank you must give a guarantee. 🙂
All things Digital
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Guarantees give your potential customer peace of mind… and that’s what you want to give them if your goal is for them to purchase.
Just about every ethical marketer offers a guarantee these days. If you don’t, you stand the chance that a potential customer will wonder why and decide it’s better to not purchase. Most people will not go to the trouble to return unless there is a real problem. Just consider it to be the cost of doing business.
♥ Coach Claire
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I agree with the reasons given here for giving a guarantee. I disagree, though, that most people won’t try to refund. I hear a lot about serial refunders – people who buy the product, and either refund shortly after purchase or right before the 30 day period is up.
On the flip side, I recently had an issue with two product sellers. One whose product had a virus (caught by my anti-virus software) told me he could not refund because his PayPal account was on hold. Gee – I wonder why. So I had to file a dispute. The other one was this week – after detailing all the issues I had had with getting the product to work, I asked him to let me know if he was going to honor his guarantee. I got notice of the refund shortly after.
I think it is good to have a guarantee, and it is important that if you have one, that you don’t make anyone jump through more hoops than you told them they would need to, to get their money back. This is the problem I had with the latter person.
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Ok, I gotta jump in here . . .
by the way, I’m reading alot of these but not commenting on all . . .I am loving the preneurs helping preneurs phenomenon that’s going on here!
however . . I feel compelled . . .
I notice it seems there are strong opinions here . . things like, statistics show, having a guarantee increases . . . etc
My experience with guarantees is that . . . you really should test to know if a guarantee makes your conversion rate go UP
or . . DOWN for YOUR offer . . .
of course, if you really believe in writing guarantee copy and you don’t care if it increases or decreases conversion . . then it’s irrelevant to you . . do what you believe!
but . . if you are looking for them to increase or decrease conversion . .. test!
My own experience: putting a guarantee on my own sales pages doesn’t change conversion rate.
my theory: guarantees theoretically increase trust
but since I sell primarily (and almost ONLY) to subscribers who already trust me . . .I don’t have to state a guarantee.
keep in mind, just because you don’t state it doesn’t mean you don’t have one .. . .
if a client bought a training from you, then wrote you and told you it didn’t work for her and why . . . would you refund it, guarantee or not???
Sean
Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com
Sean
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Testing is the key for it all. Everything is plausible until tests prove and prove again. Right on, Sean.
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I totally agree with Sean. Guarantees HAVE to be specific for a product. Yes, Clickbank requires a guarantee but if you’re selling on another platform or just through your own site a guarantee may help if people don’t know you but if they do it won’t matter. Once you get known for putting great products together, people won’t NEED a guarantee (except those new to your products). If you look on the refund statistics for both warrior plus and jvzoo you’ll see very quickly who has products that are good. There are some big name marketers who I would never promote anything for because their refund rates (sometimes as big as 10%) say they have great sales page copy but not so good of product once it is delivered. That’s just not something I would want to become known for. I think it’s all about testing as well as building a trusted client base.
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Think about your own experience.
When you go to a website that you’ve never been to before and are offered a product, does the presence of a guarantee or a badge of some kind make you feel more confident about buying something from them?
Bruce Hoag PhD
The Internet Marketing Psychologist
The Mindful Writer - for deep and persuasive copy -
Sean,
I LOVE the points you made!!!
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