You’ve heard hundreds of ads on TV, radio and in newspapers where they claim the “Guaranteed LOWEST Prices”, “Biggest Selection”, “On Time Delivery”, and the list goes on.
When a potential customer hears this, in their mind they say, “or what?” What if it’s not the “lowest price”, “biggest selection”, or “on time”? Then what happens? Stating a guarantee without the “or what” has little to no impact!
Here are a few examples of guarantees that answer the “or what” question:
Papa John’s Quality Guarantee: “Love your Pizza. Guaranteed.” Or what? If you don’t love your pizza, tell us why and we’ll deliver another one absolutely free.
A local used car dealer used this guarantee: “Better Cars, Better Prices, The Best Guarantee in the Business.” Or What? If you’re not completely satisfied, I will give you your money back – Every Penny!
A local electrical company totes their “Pickle Nickel, On-Time Guarantee”. Or What? If you’re in a pickle, give us a call. We promise to be on time, if not, your first hour won’t cost you a nickel.
Offering an iron-clad guarantee can dramatically reduce any perceived risks and increase your new customer count and your closing ratios. Honoring those guarantees also increases the amount of “word of mouth” advertising you receive!
A common reaction you hear from business owners in response to a competitor’s strong guarantee is, “Well, we do that too”. The problem with this reaction is that whoever says it first, owns it. The “strength” is being able to advertise it and use it as part of your business’ marketing and sale pitch.
Some businesses fear promoting their guarantees because they think they may lose money if customers abuse them. In reality, a very small percentage of consumers abuse guarantees, refunds, and return policies.
The marketing power of a strong and unique guarantee that creates a trust and comfort level will result in customers buying from YOU instead of your competitors.