The Power of Risk Reversal

money-back-guaranteeDo you stand behind your product?

If someone asked for their money back would you give it to them?

Then why not use that as part of your promotion? This is part of what is referred to as “Risk Reversal” and can go a long way toward helping your prospect make the decision to become your customer.

When you’re pushing to get your prospect to convert early in a Free Trial remind them that you have a 30, 60, 90-day (or whatever you want to do) Money Back Guarantee.

Of course, depending on jurisdiction and credit card used, they are entitled to their money back for any of those time periods ANYWAY (talk to your credit card processor/merchant account provider),… so you might as well promote it!

Just make the Money Back Guarantee (that’s above what you’re required to offer) congruent with what you’re comfortable offering and what is realistic for the market.

But this can be a great way to increase conversions and it doesn’t cost you anything!

You just have to be willing to stand behind the guarantee… which means having confidence in your product AND confidence that your customers will get value from it.

Ultimately this means attracting the right customers in the first place and then working diligently to ensure they quickly get value from your product.

I help grow SaaS companies at Gainsight by focusing on Customer Success. Follow me on Twitter @lincolnmurphy.

About Lincoln Murphy

I am a Customer Success Consultant focused on Customer Success-driven Growth. I wrote the Customer Success book which you can buy at Amazon. If you need help applying Customer Success-driven Growth principles in your company or would like me to speak at your event, please contact me. Also, connect with me on LinkedIn or follow me on Twitter or Facebook.