How to Give a Guarantee That Attracts New Business... and Doesn't Put You at Risk.
How to Give a Guarantee That Attracts New Business... and Doesn't Put You at Risk.
David thought for a moment and then replied, "No... We can't really give a guarantee."
>> Do you think the same thing about your business? Read on to find out how to give a guarantee that attracts new business and doesn’t put you at risk.
When I asked why they didn't offer a guarantee, David explained that in their business it was up to their clients to achieve results. For example, David and his team couldn't go out and play on tour for their clients.
All David's competitors felt the same. No one offered a guarantee.
You see, David's clients are high performance athletes and sports stars, as well as up-and-coming junior players. David and his team felt they couldn't guarantee what they did. They felt they were at the mercy of each clients performance.
But wait... I suggested to David that they were focused on the wrong outcomes - that is, that their clients would win more games, or win more prize money.
Sure, winning is important. I agree that David and his staff can't play the game for their clients. Of course they can't.
Then we discussed that many of David's clients also had objectives about personal satisfaction, and improving performance when under pressure. It wasn't always simply about 'winning'.
Then I probed further. I asked David 'if' his clients followed the advice given, and 'if' they put in the required effort, would he be happy to guarantee that his clients would be more likely to achieve their goals.
>> Think about your business... If your clients give you honest and accurate information, follow your advice, and put in enough effort, (and other factors remain the same) can you guarantee they will increase their chances of achieving better results?
After a short pause, David said... "Yes, I suppose I can guarantee that".
The key point here is that David can guarantee his 'process' works to help clients achieve results. Of course he can't guarantee clients will always reach their goals. In his case, that is up to every client to work on.
Example of wording for David's guarantee:
If you follow our guidance, put in the work required, and be honest with us about your commitment, we guarantee you will have better prospects of reaching your goals. We'll do everything we can to help you realise your potential.
Important Note:
The guarantee includes specific information about what the client has to do for the guarantee to be applicable. You don't want to make a general guarantee that requires no contribution or effort from your client, if that is in fact a critical part
of a successful outcome.
The main point of a guarantee is that you demonstrate faith and confidence in the process, services, or products you are offering.
The objective is to remove, or minimise, the perceived risk in buying from you.
Especially if you offer services where clients won't really know if what you do works for them until they have received it. Prospects get worried about making the commitment. They think it is risky.
You need to encourage prospects to become clients by giving a guarantee.
Studies have shown that only a very small, tiny percentage of buyers ever call on the guarantee. From my own experience offering guarantees for my training programs - after hundreds of delegates I've never had one call on the guarantee.
(Of course you need a quality service, process, or product.)
What can you guarantee for your clients?
How to Give a Guarantee That Attracts New Business and Doesnt Put You at Risk - To learn more about this author, visit Stuart Ayling's Website.
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I was working with my client David (not his real name) - the principal of a sports psychology business - to review their marketing program. I asked David "Do you offer a guarantee?"
David thought for a moment and then replied, "No... We can't really give a guarantee."
>> Do you think the same thing about your business? Read on to find out how to give a guarantee that attracts new business and doesn’t put you at risk.
When I asked why they didn't offer a guarantee, David explained that in their business it was up to their clients to achieve results. For example, David and his team couldn't go out and play on tour for their clients.
All David's competitors felt the same. No one offered a guarantee.
You see, David's clients are high performance athletes and sports stars, as well as up-and-coming junior players. David and his team felt they couldn't guarantee what they did. They felt they were at the mercy of each clients performance.
But wait... I suggested to David that they were focused on the wrong outcomes - that is, that their clients would win more games, or win more prize money.
Sure, winning is important. I agree that David and his staff can't play the game for their clients. Of course they can't.
Then we discussed that many of David's clients also had objectives about personal satisfaction, and improving performance when under pressure. It wasn't always simply about 'winning'.
Then I probed further. I asked David 'if' his clients followed the advice given, and 'if' they put in the required effort, would he be happy to guarantee that his clients would be more likely to achieve their goals.
>> Think about your business... If your clients give you honest and accurate information, follow your advice, and put in enough effort, (and other factors remain the same) can you guarantee they will increase their chances of achieving better results?
After a short pause, David said... "Yes, I suppose I can guarantee that".
The key point here is that David can guarantee his 'process' works to help clients achieve results. Of course he can't guarantee clients will always reach their goals. In his case, that is up to every client to work on.
Example of wording for David's guarantee:
If you follow our guidance, put in the work required, and be honest with us about your commitment, we guarantee you will have better prospects of reaching your goals. We'll do everything we can to help you realise your potential.
Important Note:
The guarantee includes specific information about what the client has to do for the guarantee to be applicable. You don't want to make a general guarantee that requires no contribution or effort from your client, if that is in fact a critical part
of a successful outcome.
The main point of a guarantee is that you demonstrate faith and confidence in the process, services, or products you are offering.
The objective is to remove, or minimise, the perceived risk in buying from you.
Especially if you offer services where clients won't really know if what you do works for them until they have received it. Prospects get worried about making the commitment. They think it is risky.
You need to encourage prospects to become clients by giving a guarantee.
Studies have shown that only a very small, tiny percentage of buyers ever call on the guarantee. From my own experience offering guarantees for my training programs - after hundreds of delegates I've never had one call on the guarantee.
(Of course you need a quality service, process, or product.)
What can you guarantee for your clients?
How to Give a Guarantee That Attracts New Business and Doesnt Put You at Risk - To learn more about this author, visit Stuart Ayling's Website.
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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