March 10, 2017
Types of guarantees
Over the years, I’ve used a few different types of guarantees.
They type that I choose in a given situation depends on a variety of factors like:
- the type of product/service
- the level or risk involved
- the scope of work
1) For an info product, you might offer an unconditional 100% money back guarantee:
“If you are unsatisfied for any reason, I will refund your purchase in full, no questions asked.”
2) For an 1-on-1 consultation, you might offer a satisfaction guarantee:
“If at the end of our call you feel you have not gotten your money’s worth, just let me know and I’ll refund your payment in full.”
3) For an ongoing advisory retainer, you might offer a “professionalism” guarantee:
“If at any point in our first 30 days you decide that I am not meeting the standards described herein, just request a refund and I’ll send your money back, no questions asked.”
4) For a software project, you might offer a “bug-free” guarantee:
“If at any point in the future a bug is discovered in the code, just let us know and we will fix it free of charge.”
You are welcome to copy these examples, but really they are meant to inspire you.
Think about what you’re comfortable guaranteeing on a case-by-case basis and make it explicit in your marketing and proposals.
You’ll find that doing so will help you close more sales AND increase your prices.