In my previous post, I told you about Sam Walton, and how he revolutionized the world through the price tag. His honest method of working with customers relieved the stress and burden on them, which made shopping there an easier, more pleasant experience. However, that wasn't the only thing that set Sam Walton's store apart.
Sam Walton also guaranteed the products he sold. Before his time, if you got a piece of junk, you usually couldn't return it. But Sam decided to stand behind the products his company sold, offering a money-back guarantee. Today, that seems pretty obvious that a retailer should offer that kind of guarantee. But in his day, it was actually pretty revolutionary. It was so effective that everybody else had to start adopting it, because people just prefer the security of a guarantee.
When selling today, a moneyback guarantee, or alternatively a free trial, is an aboslute must. I probably don't have to explain it to you because I think today most people already understand how valuable a moneyback guarantee is. However, we must always grow and learn, and improve upon the processes we have learned from those who went before us. So now I ask you a question: What can you do today to provide your customers with a better buying experience?
There are so many good ideas out there today on how to give people a great customer experience that it's hard to find something new. You can use that to your advantage, and browse around. One thing that comes to mind is offering a free trial without a credit card. You know how annoying it is to have to give somebody your credit card to get started on a free trial? Well, people obviously want to do that so they can quietly begin charging a person's credit card, even if they don't really want to continue after the trial. Instead of letting the product sell on it's own merit, people sometimes dink around with sneaky gimmicks to get more sales. I think it's pretty clear that you shouldn't require somebody to give you their credit card information until they are confident they want to buy your product. Here at Turbo Sales, we don't ask for your credit card until your trial expires.
Any time you give people the benefit of the doubt, you are going to run into people who are going to try to scam you. It is an unfortunate fact of life. Is it worth it though? Obviously, you have to weigh the risk reward yourself, and do everything you can to combat fraud. Retailers today, for example, constantly have to combat return fraud, people trying to return items they bought elsewhere without a reciept. Yet they still put up with it. Why? Because they think offering a moneyback guarantee to their real customers is worth so much they are willing to lose money due to fraud in order to keep that service alive. You too ought to battle fraud as best as you can. Even if there is the possibility of somebody abusing your system, it very likely is still worth it.