1695 words | 8 minute read
Few things in life are guaranteed, but this I promise you: customers will always want some type of assurance about what they are buying. They will examine the details of your offer, and they’ll ask that well-known objection, “What kind of guarantee do you offer?”
Table of Contents
- 1 Avoid Assumptions
- 2 Don’t Take Things Literally
- 3 Do Not Justify
- It’s Not Really About the Guarantee
- Preempting Objections
- Strong Guarantees
How do you answer your prospects? Is there an airtight way to handle that objection and turn it into a sale?
First, before you even answer the prospect, you must understand what they are thinking. Once you know what’s on their mind, you will know how to respond. Here are three ways to handle the objection, “What guarantee do you offer?”
Watch this video about how to handle the objection, Do you have a guarantee?
Now before I get into how to handle the objection, I need to teach you some of the basics, the deeper lessons that go into sales psychology. Otherwise you could say or execute the line incorrectly and lose the sale.
1 Avoid Assumptions
Of the three key lessons that you have to understand, the first is do not make assumptions about the prospect. Meaning, if your prospect says, “Do you have a guarantee?” don’t start rambling. Don’t talk about your 30-day money-back guarantee or one-year satisfaction guarantee.
Even if you don’t have a guarantee, don’t assume immediately that you’ve lost the sale. Also don’t assume that you could be losing your prospective client.
Instead, find out why they are asking the question. It’s possible they are just curious, and no matter what you answer, it’s not the deciding factor for whether they will buy.
Stay calm, don’t assume, and move on to lesson two, which is don’t take things so literally. If they ask, don’t blurt out the first answer that comes into your head. Don’t say you don’t have a guarantee, or ask if they trust you.
2 Don’t Take Things Literally
If your prospect asks about your guarantee, don’t take their question literally. Instead, answer a question with a question by saying, “Exactly what kind of guarantee are you looking for?”
Be Simple and Direct
You’re not assuming anything or taking anything literally. You’re asking, “Exactly what kind of guarantee you’re looking for?” By not taking things literally, you might be surprised at what the prospect is actually thinking.
Maybe they’re just wondering what will happen if the product doesn’t work for them, or the relationship doesn’t work (such as a coaching service). When you get to the bottom of what’s really on the prospect’s mind, then you ask your next question.
For example the prospect answers, “Let’s say I want to know if in 30 days this product doesn’t get me the results I want, then what happens?”
You could respond, “We do have a 30 day money-back guarantee. Is that what you’re looking for?”
The prospect could say, “That’s exactly what I’m looking for,” or they might say, “That’s not enough. I need a longer guarantee, maybe 60 days.”
Find Out What’s Holding the Prospect Back
But once you have a clearer idea of what the prospect is thinking, you’re not guessing. Instead, you’re finding out precisely what is holding them back from making a commitment.
When you tell them about your 30-day guarantee, confirm with them, “Is that what you’re looking for?” You can also ask, “Are you comfortable with that?”
Another strategy you can use is when they ask, “Do you have any kind of guarantee?” You could say, “Suppose we have a guarantee. What would that look like for you?”
Now you get a sense of what the prospect considers ideal. The prospect may answer, “I would want at least 60 days to try it out, or 90 days. Or in case it doesn’t work, I want to be able to opt out of this agreement.”
You may or may not like their answer (especially if you have a 30 day guarantee and they think 60 days is ideal), but you have at least turned it around and you’re not guessing what’s happening in the prospect’s mind.
3 Do Not Justify
The third and last lesson to handle a guarantee objection is do not go into justify mode. Don’t say something like, “We always make sure that our customers are satisfied so we always put a guarantee behind our product. We have this 60-day money-back guarantee.”
Don’t tell the prospect how good your product is. Put that aside and just focus on qualifying the prospect. You want to know why they are asking their question. What if they’re one of those people that are going to buy something and just refund it?
You want to qualify them up front and avoid closing a sale that won’t stick. You also want to know if this is the right client for you.
Find Out What the Prospect Really Wants
Here is how the conversation might go. They ask, “Do you have any kind of guarantee?”
You reply, “Well you know Mr. Prospect, suppose we offer some kind of guarantee. What would that look like for you?”
And they answer, “I would want to see if it doesn’t work in 30 days, can I get my money back?”
You reply, “Well suppose in 30 days if you’re not happy you are going to get your money back. What’s going to happen then?”
Turn the objection into a commitment, and then into a sale. You’ve gotten rid of the smoke and mirrors and gotten to the truth.
In your mind, you know the objection is not really about the guarantee. It’s about something else. It’s just a way for them to say “No” to your offer.
It’s Not Really About the Guarantee
The conversation may also go in this direction, where you say, “Suppose I offer you some kind of guarantee? What would that look like?”
And the prospect says, “If there’s no guarantee I’m not going to buy that. I want you to guarantee that you’re going to work on my Facebook ads so I increase my revenue by 300 percent in 30 days.”
You’re thinking that’s a ridiculous request but instead of giving your opinion, agree with them first. Say, “Let’s just say hypothetically I could do that. What’s going to happen?”
Find out if you’re going to do business and turn to the commitment first. Then circle back and remind the prospect that you talked about getting more results and increasing their revenue by getting more leads through Facebook.
Work on building a long-term relationship by clarifying what you can offer. You could say, “I can’t guarantee you’re going to grow your business by increasing the revenue by 300% in 30 days. In fact anyone who tells you that they can do it is probably lying to you. You don’t want our relationship to start based on a lie would you?”
And when they agree and ask about the realistic expectation, say, “If we could at least increase your revenue in the next 60 days by 10 to 20 percent, could we work with that? Suppose I could do that for you, are you ready to move forward today?”
Sometimes prospects ask for the most ridiculous guarantee, but you can handle that like a professional. It’s not about having a script to follow so that if the prospect says one thing, then you have a set response, and if they ask a different question, you give another corresponding response. It’s not so scripted.
Another way to handle the objection is to prevent it from being said in the first place.
When you are handling objections, you’re being very active and when you’re reacting to the prospect’s objections, you don’t want to be put in a defensive position.
I much prefer to take the approach of preempting the objections, meaning I deal with the objections before they come up. I believe the best defense is a good offense. Have the right frame by setting the agenda and the tone at the start of the call or meeting.
When you set the agenda, you set their expectations on how to work with you. Then you set your tonality by asking powerful questions. A confident tonality keeps you in control. When you do it this way, objections rarely even come up and if it does come up it’s only one or two in the entire conversation.
Now that you can handle the guarantee objection, or even prevent it from being asked at all, here are some examples of strong guarantees that businesses have offered their customers. How would you answer a customer if they asked if your company offers the same guarantee?
- Lifetime guarantee that eliminates the customers’ urge to return products and increase trust in your product.
- Free trial period that has a higher chance of customers paying full price when the trial period is over.
- First time buyer guarantee that allows the first time customer to get a refund or try a different size or style if the one they bought doesn’t work for them.
Final Thoughts On The “Guarantee” Objection
Even if a prospect is asking about your guarantee, they might not actually be interested in it. The best way to handle their objection is to find out why they’re asking you about your guarantee.
Don’t make assumptions about what your prospect is thinking, and don’t take their words literally. Don’t even justify the value of your offer until you qualify the prospect.
Do they really want to know about your guarantee, or are they just mildly curious? Are they asking the question because they just want an excuse not to buy?
When you can get to the bottom of why your prospective customer is asking about your guarantee, then you have a better chance of committing them to a sale. You can also preempt their objections by setting expectations at the start of the meeting – and greatly reducing the chances of them saying this objection at all.
Would you like to learn more about how you can increase your sales rates and how to handle objections? Click on the link below.