Guarantees: Why You Should Offer Them

There are many questions that often come up for new small business owners around offering guarantees – what kind, how long, am I risking too much by doing so, and even if they should offer them at all.

In my business, I offer a guarantee on almost everything I sell (I don’t offer guarantees for my 1:1 coaching and consulting services as I can’t control what the client does or doesn’t do), and the one thing they have in common is this:

Guarantees remove the risk from your buyer.

And yes, that means that then the “risk” is on your shoulders, but that’s exactly where it should be. After all, if you’re providing something of value that you believe in, standing behind it should be very easy to do.

Here are some other thoughts about offering guarantees for your products/programs, based on my experience:

1. Guarantees make it easier for your prospect to buy.

If you offer a 100% money-back, no-questions-asked guarantee, you’ve answered your potential buyer’s #1 objection – “But what if it doesn’t work for me?”

By assuring them that, if your product or program doesn’t do what you say it will for your buyer, you’ll give them their money back without demanding a reason, you’re assured more sales.

2. Guarantees are proven to make more sales.

You may think that by offering a guarantee people are going to take advantage of it unscrupulously, especially if you’re selling a digital product. After all, you can’t really take an ebook back once someone has downloaded it to their computer (and yes, I know there is software available that turns “off” a returned copy, although I don’t recommend you use it).

But so few people will really do that that it’s not worth not offering a guarantee. There will always be a few turkeys who will take advantage, but I suggest you leave it up to the Universe or Karma or whatever to take care of them.

3. Offer a strong guarantee.

Meaning, 100% money-back, no-questions-asked guarantee.

Also, studies show that the longer the guarantee, the less returns you’ll get. Why? Because people are busy, and they will appreciate a longer time to try something out before they have to return it. And frankly, unless they are furious about a purchase, it’s unlikely they will ask for their money back, especially it’s been awhile since they bought it.

But even a 7-day guarantee on a smaller digital product to give your buyer a chance to actually access it and decide it’s right for them will make you more sales.

4. Guarantees are promises.

If you offer something of value and you believe in it, then it’s easy for you to make promises about what it can do. It should be equally as easy, then, to offer an iron-clad guarantee to back up those promises.

Offering a strong guarantee will put your potential buyer at ease and make more sales for you.

If you want to learn more about creating strong guarantees that you and your buyer will feel good about, then check out the Online Business Breakthrough School here.