Welcome to the audiobook experience of my book High-Value Offers: How to Create Desire and Turn Your Course Idea into The Dream Offer for Your Ideal Student.
The product guarantee exists to handle one of the most common sales objections – the financial risk people are taking when investing in your program. It’s crucial that you nail the guarantee, make it compelling and remove that huge objection standing in the way.
That’s what this episode is all about. You’ll also learn about the different types of guarantees, will see examples from successful entrepreneurs and their products, and will get ideas on where to include your guarantee on your sales page as well as how to make it part of your marketing.
Tune in below:
What’s a product guarantee?
The guarantee itself is a statement in which you add a condition. It’s usually about what will happen if the person isn’t satisfied with the result of the product. There are different ways to structure it and it can be as bold or as strict as you want it to be.
The first point I want to make here is that you better include a guarantee as part of your offer. Skipping this element can cost you a lot.
Having one lowers the barriers to purchasing. It builds trust. It makes people have one more reason to enroll in your course and not worry that they will lose money because if they don’t like it, they can ask for a refund.
It also makes your offer more desirable and a good guarantee can be the reason why more people decide to purchase now. It reduces the perceived risk and can make you stand out from other course creators who don’t have such a good refund policy.
Many people wrongly assume that the guarantee is just this short paragraph you write at the end of the sales page and hope people won’t even need to notice. But it’s much more than that and that’s why it deserves more attention.
It’s a sales tool that shows how much you believe in your offer. The stronger your guarantee is, the more confident you seem in your product. And as a result, people do the same.
They become curious why you are offering this no-brainer guarantee when so many people can just enroll in your course and then ask for their money back. And that might happen, but the earnings that come from a guarantee like that will always exceed the losses.
You know there are those people who just keep asking for refunds online and don’t care about anyone, they leave negative feedback, aren’t willing to put in the work and complain about not getting results. You might stumble upon a few of them and that’s okay. They are not your ideal student and you can simply refund their money and wish them the best. You don’t want to do business with them.
But your task as a course creator is to get that amazing program you’re creating in the hands of the right people and inspire them to enroll as soon as possible so they can start taking action. All we did in this stage of the process is with that goal and the final little push you can give is the guarantee.
So my advise to you is to spend a good amount of time writing your guarantee. You only need to do it once but it can be a game-changer when it’s time to present your offer.
Two popular examples are of brands we know – Aldi and IKEA.
Aldi has their twice as nice guarantee. If you aren’t satisfied with an item, you can not only get it replaced but also receive your money. This is quite generous. On their guarantee page, they say how much they believe in their products and add some conditions such as the fact that you’ll need to present your receipt, and that alcohol can’t be replaced.
Another generous giant is IKEA. You’ve got 365 days to return or exchange an item.
Types of guarantees
While there are many types of guarantees and you can combine them in different ways, I now want to show you the 3 main groups: conditional, unconditional and no guarantee.
Conditional ones involve a condition and it’s usually that people need to show proof they’ve done the work or why the item isn’t satisfying them, and only then can they get their money back.
Unconditional ones are where you ask no questions and simply refund the money the moment someone contacts you about it. And the third one is where you offer no guarantees, which means all sales are final.
Writing a compelling guarantee
Here are some final tips for writing a compelling guarantee:
- Say how much you believe in this course and the results it provides.
- Add a dose of realism – e.g: this won’t work unless they do.
- Clearly outline your terms and conditions.
- Share the time limit (if any) and make sure it’s one that actually allows them to try the product while living their life.
- Say who to contact and how in case of a refund.
- Mention what happens after that – what they should expect, whether the money will be refunded immediately and how, etc.
- Be as honest and transparent as possible when writing it.
- Also, you don’t need to have such a long guarantee. It can be short and simple as long as it’s compelling, convincing and does the job.
And that’s it. Time to write yours now. This was the final element of your offer. The next step is to organize all those sections on your sales page and I’ll help you with that in the next chapter.