September 2, 2024
Four Types of Guarantees
Over the years, I’ve used a few different types of guarantees.
The type that I choose in a given situation depends on a variety of factors:
- Type of product/service
- Level of risk involved
- The scope of work
Here are four different examples:
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 a 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.”
Here’s the thing...
If you run an expertise-based business and you’re looking for ways to differentiate yourself, increase your prices, and close more deals, offering guarantees on your products and services might do the trick.
Yours,
—J