Business Guarantees: What Are They, How to Create One & Why

Does your business have a guarantee? Learn how to write a guarantee for your business and how it can help drive business.

Business Guarantees — What are they? How do you create one? And why are they so powerful?

Welcome to the Love of Business. I’m Crystal.

And I’m Sunshine. Let’s get to it.

What is a guarantee?

So, Crystal, what is a guarantee?

Great question. And let’s chat about it. So, a guarantee is something that you ordinarily are doing for your customers. You are just putting it in writing and into marketing to take away the risk of buying from you.

Tell me about the risk, Crystal? What do you mean taking away risk by using a guarantee?

Yes. So, in a buying process, psychologically speaking, it’s an emotional process for people. So, by taking away the risk, what is happening is you are helping them make a logical decision, instead of an emotional one. Because they need and want your product and service. But they are always going to have some doubts because money is associated with purchasing your product or service. So, when you take away the risk, it removes the negative emotion in the buying process. And it makes it a positive, emotional buying experience.

How to create a guarantee for your business

Thanks for that, Crystal. Can you tell us how to create a guarantee for our business?

Yes. So, when you’re looking at your individual business and creating guarantees, think about the things that you’re not talking about with clients that you’re doing for them anyway. So, for example, if you have a product or even a service, maybe you have 100 percent money back guaranteed if they are not 100 percent satisfied with the result.

You can also have a guarantee based on customer care. So, for example, a lot of our clients have a guarantee that they will get back to all business inquiries within one business day. And that one is really powerful because the biggest frustration across every business, across every industry, across the world, is lack of response or lack of response time.

Wow, who knew that a guarantee with, “I’ll get back to you within 24 hours,” would be so powerful. Thanks for that, Crystal.

Yeah, simple but powerful.

So, what’s your number one learning from today’s video. Leave us a comment. And don’t forget to like, share, and subscribe.

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