The Marketing Tip of The Week

Hi again, and welcome to this week's tip of the week.

As I left off on last week’s marketing tip of the week, I said I was going to write about how to increase your number of leads, prospects, inquiries, and customers.

In a simple phrase: Guaranteeing purchases through Risk Reversal.

I’d like to remind you of a very important fact of life that you’ve experienced whenever you’ve purchased something.

Anytime two people come together to transact business, one person is always asking the other to take on or assume more of the risk than the other does.

If you are asking your customer to assume the risk of purchasing your product, a lot of them won’t do it.

And a lot of your customers won’t begin to buy at anywhere close to their capacity to purchase, because they don’t want to take on all of the risk.

I’m sure you’ve felt the same way whenever you’ve purchased something.

Here’s the solution.

The key is to recognize that if you can reduce or eliminate, all together, the burden of risk on the transaction for your customer, a lot more people will buy from you, and they will buy a lot more and a lot more often.

When you reduce or eliminate the risk, the customer will feel that you believe in your product and are willing to take the risk if anything ever goes wrong.

As you look at guaranteeing a purchase and reversing the risk, understand this fact…

What you are really doing is lowering the hurdle, reducing the barrier of entry, and making it more advantageous to buy from you, than not to buy.

In other words, customers will purchase more readily when you remove the risk factor of the purchase.

At my seminars, when I introduce the concept of risk reversal or guaranteeing the purchase, most people shudder and they become fearful, and they say, “I can’t guarantee a purchase. What happens if everyone I sell to asks for a refund?”

I remind them of two very important factors.

The first is that I presume the product or service you sell is a quality one.

It provides value. It provides a benefit. It creates an advantage and a very substantial result for the customer you deal with.

Am I right?

Of course I’m right, or they wouldn’t be buying from you in the first place.

By guaranteeing the purchase and reversing the risk, you actually help your customer appreciate the results and benefits your product provides for them at a far higher level than they (your customers) probably do now.

Win-win for everyone in the transaction.

For example, if you have an opportunity, read the guarantee at my web site, www.kenvarga.com. My guarantee is a lifetime guarantee, no questions asked.

Out of the thousands of books I’ve sold, I’ve only been asked once for a refund.

That person said they were sending the book back because they already knew all the information about marketing.

Maybe; maybe not. But I didn’t lose any sleep over it because of the thousands upon thousands of satisfied customers that have bought my book and are benefiting from using the concepts within it.

I’m sure you can think of many ways besides guarantees to reduce the customers risk in purchasing your product or service.

This should do it for now. Next week I’m going to go over how to guarantee the purchase and reverse the risk for the customer, without hurting your profits.

Till next week, keep healthy and wise.

Best Wishes,

Ken Varga
  ...using experience from my 35 businesses to help you generate millions of dollars from yours

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