As long as you don't sell crap, a money-back guarantee can grow your business faster than almost anything else.
(NB: If you do sell crap, a money-back guarantee will put you out of business faster than almost anything else. Hey, sorry. Don't sell crap.)
Anyway, here are 3 reasons why you need a strong money-back guarantee in your business ...
Study it. Because that guarantee is worth millions to The Great Courses. And you need one like it in your business, for 3 important reasons.
Reason #1: You will get more new clients, faster, from the same marketing
Quick, which guarantee is stronger?
- "Your satisfaction is 100% guaranteed" (which is how far most timid, lazy marketers go, i.e., not very)
- "Your satisfaction is 100% guaranteed. If a course is ever less than completely satisfying, you may exchange it for another of equal value at any time. You may also return any course, within one year of initial purchase, for a full refund" (which is how far The Great Courses goes)
Reason #2: Your clients will buy and refer longer
Now, it may surprise you to learn that I just returned a DVD to The Great Courses for a refund today. And I've returned stuff to them before.
Yet, I've been buying from The Great Courses going on 10 years. I've given them at least $700 in business, minus about $75 in refunds. So they're still ahead.
BUT ... that doesn't take into account the referrals I've sent them, like family members and clients, to whom I rave about The Great Courses. And now you, my loyal readers.
One reason I recommend The Great Courses is because they offer ... great courses.
Another reason? I can't look like a dolt for recommending them. Because anyone who dislikes a purchase can get a refund. That kind of "insurance" is important to anyone before making a referral.
Now, think. If you don't offer a guarantee, what does that say about your business? Does it make you more referral worthy or less?
Reason #3: You will do better work. Which makes everything better
Look at that last line in The Great Courses' guarantee. It's brilliant: "This guarantee not only protects your investment in learning, it also compels us to produce great courses."
Nothing like tightrope walking without a net to compel your best effort, eh? I can tell you from experience, after offering an unconditional money-back guarantee on my copywriting and consulting services since 1998, that it compels you to do your best work. Which is good for everyone.
Hey, I'm not perfect. Neither are you. I give refunds about once a year. And if you offer a strong money-back guarantee, you'll give refunds, too. But if your sales go up 25% ... 50% ... or more, will you really care?
One more thing: If you own a business, you can get a box of 11 Marketing Multipliers delivered at no cost, if you hurry. Learn more at www.MarketingMultipliers.com