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HOW TO

Increasing Your Sales By Reversing the Risk
By: Developer Shed
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    2004-03-05

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    Increase Your Sales By Reversing the Risk
    by Bob Leduc


    Copyright 1999 By Bob Leduc

    You may be losing a lot of business without knowing it. It
    happens every time a potential customer decides not to buy
    from you because they may not get all they expect from your
    product or service. You can save much of this lost business
    by reversing that risk. One way to reverse the risk is to
    guarantee every claim you make. For example, tell your
    prospects:

    "If for any reason (product or service) doesn't deliver
    every claim or promise we made, we'll refund 100% of what
    you paid."

    You'll be amazed at how much more business you'll get with
    this simple guarantee. Reversing the risk breaks down your
    customer's resistance and instills confidence that your
    claims must be true. It enhances your credibility because
    you certainly wouldn't guarantee a full refund if your
    product or service didn't deliver as promised.

    Maybe you're reluctant to provide a money back guarantee
    because you're afraid some people may take unfair advantage
    of it. I've learned by experience that you don't have to
    worry about refunds if you offer a quality product or
    service at a fair price. The buyers who take advantage of a
    money back guarantee represent only a tiny percentage of the
    total increased business generated by the guarantee.

    MAKE YOUR OFFER BETTER THAN RISK FREE

    Did you ever decide to buy something then change your mind
    at the last minute? Maybe you even had your checkbook or
    credit card out but stopped at the very last second. Some of
    your potential customers do this. You can convert many of
    these "almost sales" into customers by offering a guarantee
    enhanced with a bonus. TV informercials use this technique
    all the time. You can copy it to increase sales in your
    business.

    To use this technique, add something extra to your offer as
    a bonus and tie it into your guarantee. If your customer is
    dissatisfied and uses your guarantee, he or she can return
    the product or cancel the service and get a full refund.
    But, they don't have to return the bonus item. Now your
    offer is better than risk free. This "free bonus you can
    keep" motivates many "almost buyers" to take action and
    become customers.

    Sometimes you can offer a guarantee your customer
    automatically gets from somebody else. It may be a guarantee
    from the manufacturer or even a legally required guarantee.
    For example, most states require life insurance companies to
    refund 100% of the premiums paid when a policy is returned
    within 10 days after delivery. Many insurance agents
    persuade prospective buyers to submit an application with
    the premium payment based on this guarantee. This is a good
    example of a guarantee provided by somebody else (government
    regulators). It's also an excellent example of reversing the
    risk from the buyer to the seller.

    REVERSING THE RISK FOR A SERVICE BUSINESS

    Removing the risk by providing a money back guarantee works
    well when a product is involved. But, how do you provide a
    guarantee when the transaction involves a service? Your
    customer can't return yesterday's plumbing job. The work was
    already performed.

    Instead of offering a money back guarantee, a service
    business can provide a guarantee to solve the customer's
    problem. For example, our plumber in the example above can
    guarantee to come back without charge as often as necessary
    to stop the leak. A landscaper can replace without charge
    any plants that don't survive for at least 6 months. A sales
    consultant can continue working without charge until the
    promised sales results are achieved.

    REVERSING THE RISK FOR A BUSINESS OPPORTUNITY

    Nobody can guarantee someone else's success in operating a
    business. But, there are some things you can do to lower the
    buyer's risk.

    If you offer a MLM/Network Marketing business opportunity,
    your company is responsible for any guarantees involving
    their products or services. However, you can lower the
    business risk for your new distributors by offering support
    in sales and recruiting. For example, you can:

    * Provide free prospect leads.
    * Recruit their first few distributors.
    * Conduct 3-way conference calls to help persuade their
    prospects to sign up.
    * Provide free recruiting postcards.

    Any sales or recruiting support you offer reduces the
    business risk and convinces more people to sign up under
    you.

    Start thinking about some of the things you can do in your
    business to reverse the risk for your potential customers
    and clients. Then implement them and watch how fast your
    sales and profits increase.

    Bob Leduc retired from a 30 year career of recruiting sales
    personnel and developing sales leads. He is now a Sales
    Consultant. Bob recently wrote a manual for small business
    owners titled "How to Build Your Small Business Fast With
    Simple Postcards" and several other publications to help
    small businesses grow and prosper. For more information...
    Email: BobLeduc@aol.com Subject: "Postcards".
    Phone: (702) 658-1707 (After 10 AM Pacific time)
    Or write: Bob Leduc, PO Box 33628, Las Vegas, NV 89133


    DISCLAIMER: The content provided in this article is not warranted or guaranteed by Developer Shed, Inc. The content provided is intended for entertainment and/or educational purposes in order to introduce to the reader key ideas, concepts, and/or product reviews. As such it is incumbent upon the reader to employ real-world tactics for security and implementation of best practices. We are not liable for any negative consequences that may result from implementing any information covered in our articles or tutorials. If this is a hardware review, it is not recommended to open and/or modify your hardware.

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