Turning Indecisive Prospects Into Satisfied Customers
Even when people desire what you have to offer and want to say
yes, fear can cause them to flee from the buying decision. The
reason people don't buy or that they come to that buying
decision and walk away, is that they don't want to make a
mistake.
If in your proposition you take that risk away from the
customer, many more customers will be saying "yes". Once they
try your product, and it performs as you say, most customers
will keep that product and continue buying again and again. So
removing the risk from the purchasing decision will dramatically
improve your sales by providing more customers, potentially
bigger transactions and a higher frequency of purchase.
So how do you overcome the purchasing risk? One way is to simply
assume the risk yourself so that the customer is able to
complete the buying decision without any worry at all.
You know, for instance, that your product will provide a minimum
level of service/performance, so guarantee it. In this way you
assist the customer in making that buying decision by
eliminating the possibility of them making a mistake - you
reverse the risk so you carry it. If you're not prepared to
guarantee your product to your customers, should you be selling
your product in the first place?
It is necessary to understand that there are essentially five
different types of risk that the customer faces when dealing
with a purchase. What you want to develop is a proposition (a
risk reversal guarantee) that deals with all of these types:
1. Monetary Risk
2. Functional Risk
3. Physical Risk
4. Social Risk
5. Psychological Risk
In order to address these risks correctly look at your products
and define what the risks are from the customer's perspective.
Then develop a risk reversal proposition which eliminates those
risks. Indicate this with statements that specify the result
they will get and what you will do if they do not achieve this
outcome.
The implementation of a risk reversal does not necessarily mean