What They Risk
In nature, our ability to assess and avoid risk has allowed us to survive as a species to this day. And although we no longer have to rely on this instinct to avoid sabre-toothed tigers, we still put it to good use when we’re put in front of present days dilemmas such as potentially risky purchasing decisions.
In business, it’s vital that we do whatever we can to combat these deeply routed concerns and allow potential buyers to act, confident in the knowledge that the risk lies firmly with, and only with, the seller through a Warranty.
A passive warranty will reassure the buyer that, worst-case scenario, they will have lost nothing. An active warranty on the other hand goes one step further and actually rewards the buyer as a token of gratitude for having taken the initial leap of faith.
Examples:
- Passive: 30 Days Money Back Warranty
- Active: 100% Money Back + Our Own Time and Materials To Rectify
Exercise:
Write down your passive warranty as a minimum warranty offering, and if at all possible in your own circumstances enhance this with an active added extra as these types of warranties tend to outperform their basic counterparts.
Tip: Most business owners shy away from stating such bold claims, but given that in most cases buyers are already entitled to this level of protection by law, you might as well use this as a major selling point.