What happens when somebody buys your product or service, but then they are not happy for some reason? If you are like most business owners, you'll do whatever you can to make things right. And today I'm going to show you how to leverage that goodwill so you can grow your sales and profits quickly at the expense of your competitors, with virtually zero risk to you.
So for you making things right might mean giving the customer a refund, redoing the work, or coming to some other arrangement. The thing is you don't like to see a customer left unsatisfied. And of course, in many cases, you are compelled to do something because of Government regulations, so you can't get out of it even if you wanted to.
The key to this idea revolves around the lifetime value each customer has to your business, and it's vitally important for you to understand what I'm going to talk about here. That's because until you know exactly how much combined profit each new customer brings in to your business during the time they will be buying from you, you don't know how much time, effort and expense you can afford to spend to attract that customer.
Let's go deeper...
So why would you want to do this?
Because when you expect your customers to take on the risk, a large percentage of them will decide not to buy. What that means is that a whole bunch of potential customers won't buy their way into your sales funnel. They'll either delay making the purchase, or they'll buy from one of your competitors instead (which sucks right?).
And if people don't buy from you and get into your sales funnel, you won't get all of those backend sales you might have made - and you know that nearly ALL of the profits are in the backend, don't you? So by taking away the customer's risk that first time, you'll have a lot more customers, who will probably buy a lot more from you in the future.
What you're really doing is reducing the barrier of entry for your customers, making it easier and more logical to buy from you than not to buy. So take some time now to sit down with your team and work out how you can guarantee some or all of the purchase for your customers.
And if you already do that, make sure all of your prospects and customers KNOW about it. This one idea could help you double sales, with no extra risk that you have now. Try it out with a few sales and see what happens.
So for you making things right might mean giving the customer a refund, redoing the work, or coming to some other arrangement. The thing is you don't like to see a customer left unsatisfied. And of course, in many cases, you are compelled to do something because of Government regulations, so you can't get out of it even if you wanted to.
The key to this idea revolves around the lifetime value each customer has to your business, and it's vitally important for you to understand what I'm going to talk about here. That's because until you know exactly how much combined profit each new customer brings in to your business during the time they will be buying from you, you don't know how much time, effort and expense you can afford to spend to attract that customer.
Let's go deeper...
So why would you want to do this?
Because when you expect your customers to take on the risk, a large percentage of them will decide not to buy. What that means is that a whole bunch of potential customers won't buy their way into your sales funnel. They'll either delay making the purchase, or they'll buy from one of your competitors instead (which sucks right?).
And if people don't buy from you and get into your sales funnel, you won't get all of those backend sales you might have made - and you know that nearly ALL of the profits are in the backend, don't you? So by taking away the customer's risk that first time, you'll have a lot more customers, who will probably buy a lot more from you in the future.
What you're really doing is reducing the barrier of entry for your customers, making it easier and more logical to buy from you than not to buy. So take some time now to sit down with your team and work out how you can guarantee some or all of the purchase for your customers.
And if you already do that, make sure all of your prospects and customers KNOW about it. This one idea could help you double sales, with no extra risk that you have now. Try it out with a few sales and see what happens.
About the Author:
Learn more about growing your business by reading this accelerate high growth business training review. And stop by this site where you can learn more about Eben Pagan's Accelerate training and what it can do for you.
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