From NO to YES: Here’s one of the most powerful sales propositions you could use for your brand! [Tuesdays: “Write with the Pen of the Masters”]
“Increase the guarantee, increase the profit.”
According to Jay Abraham in the book, “Getting Everything You Can Out of All You’ve Got,” when you put specific and performance-based guarantees in your selling propositions, your sales will almost certainly soar.
Why is that so?
It’s because by removing the fear of making a wrong decision, you encourage buyers to push through with their plan to purchase your products or services.
Risk reversal is the strategy of transferring the risks of a purchase from your buyers to you as a seller. This means you agree to make things right in advance in case your customer doesn’t end up satisfied.
This method is one of the easiest ways to eliminate consumers’ objections about your brand and grow your profit.
Let’s apply that in copywriting.
When you incorporate a risk reversal statement into your sales message, it’s like you’re telling your target market,
“I understand you can’t be certain this product is perfect for you without buying and experiencing it first. Therefore, I would like you to try it at my risk before you buy it, with the assurance of a money back guarantee. If you are not totally satisfied after experiencing this product in action, then return it and we will cancel your invoice and/or refund your money.”
That’s a powerful sales proposition to say to your prospects! Almost all of them, if not all, won’t be able to say “no” to that.
When you reduce or eliminate the risks in doing business with your brand, converting your prospects into customers will become easier!
Here are three ways you can apply risk reversal in your copies:
- Money Back Guarantee
The most common form of this guarantee is the 30-day money back guarantee. Other types include 45-day, 60-day, 90-day, 1-year, and lifetime guarantees.
Based on Abraham’s observations, the longer you extend your guarantee, the higher the chance that your sales will increase and your refunds or product returns will decrease.
Example:
“If you invest in our program, we’ll give you 60 days to put it to the test. If you feel that the marketing strategies you’ve learned in this course aren’t worth at least twice what you paid for, then call my office and demand for a refund. We wouldn’t be happy about keeping your money if it didn’t produce the results you were hoping for.”
Including risk reversal statements in your copies will help eliminate the barriers that make your target market think twice about buying from your brand. Besides, the stronger your guarantee is compared to your competitors, the more you’ll dominate the market and attract buyers to your business!
- Better than Money Back Guarantee
This states that if your buyers are not completely satisfied with their purchase, not only will they get their money back but also keep a bonus incentive for trying your product or service out.
This form of guarantee is usually seen in infomercials.
For instance:
“This product only has 5 installment payments of USD 10.95 and you have a 90-day guarantee to try it out. If this isn’t the best stain remover you’ve ever owned, send it back and you can keep the mini vacuum for FREE!”
By combining the power of a money back guarantee with an incentive, you’ll motivate your target market to check out your offerings for themselves.
You may offer any sort of free gift, special report, subscription, information, etc. along with your guarantee. Creativity wins this game!
BUT!
You shouldn’t rely too much on simply compensating customers with incentives and money back guarantees. You also have to make sure your product or service works; otherwise, a lot of buyers will return it to you and that defeats the purpose of the risk reversal strategy, which is to help you increase your sales.
- Emotional Guarantee
This works when it isn’t applicable to ensure positive results with a money back guarantee, such as in the cases of medical professionals, consultants, real estate agents, accountants, or lawyers.
Here, it’s all about giving your customers or clients advance results like a free initial assessment or service audit.
For example:
“We provide an initial service audit for first-time consultations. If you are not completely satisfied with our output, don’t worry! The audit is yours and we won’t charge you for that.”
The goal of an emotional guarantee is to reduce or eliminate your target market’s fear and increase their trust and confidence in you. This will make it easier for them to say “yes” when the time comes that they have to pull money out of their wallets.
Now, you might be thinking,
“If customers can try my products before they pay, surely they’ll take advantage of me and I’ll lose money hand over fist!”
Realistically speaking, the reverse of that scenario happens. Abraham said that when you include a powerful risk reversal statement in your copies, highly likely your sales will increase by up to 300% and your attrition rate will rarely exceed 2%.
[Attrition Rate: The rate at which a company begins to lose its customer base.]
Abraham also stated another benefit of using the risk reversal strategy. According to him,
“Because you guarantee your clients such a specific outcome or result, you will normally perform even better than you used to in order to assure that your company delivers what you promise.”
In other words…
You become more motivated to make sure what you write in your copies is true. At the same time, your target market ends up receiving a higher-than-expected level of service―you both win BIG in the process!
Remember that consumers are only searching for genuine value and service from brands or businesses. If your offerings provide your target market with the value they are expecting, then only a very small percentage will ever ask for a refund.
Try incorporating the risk reversal strategy in your copywriting processes!
Explore all the ways you can use this method to eliminate uncertainty, improve decisiveness, and give your brand a competitive edge. Help your target market decide to act NOW, without any fear, objection, or concern.
Once consumers see the consistency in your marketing and in your actual product or service, they’ll more likely provide and spread positive feedback about your brand and…
The higher the chance that they’ll buy from you―AGAIN. AND. AGAIN.
About The Dynamic Marketing Communiqué’s
“Tuesdays: Write with the Pen of the Masters”
Who doesn’t find content writing to be a skill that requires a lot of practice and effort?
In fact, many people may even find copywriting very intimidating.
However, you can be a good writer as long as you have the right tools. You won’t always get things right the first time, but with enough time and practice, you’ll get the hang of it!
When you write a copy for any brand or for your company, your aim is to make an impact and…
…to get people to remember.
Getting people to remember means getting consumers to buy your product or to avail of your service.
And when you get your content to deliver the results you want, THAT is a great copy!
Every Tuesday, we publish content based on tips and insights from the masters of content writing, copywriting, and storytelling.
Become more familiar with ways to write great copy that helps you gain ROI from your efforts, drive profitability, and achieve your business goals.
Learn time-tested tactics that better capture the attention of your target audience, and maximize the benefits of great copywriting.
Hope you found this week’s insights interesting and helpful.
Stay tuned for next Tuesday’s “Write with the Pen of the Masters!”
Cheers,
Kyle Yu
Head of Marketing
Valens Dynamic Marketing Capabilities
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