One of the biggest barriers to buying for customers is the risk of ‘losing’ in the transaction.

It could be a loss of time, energy or money. It could be the risk of damage done to property or reputation. There are many risks that customers must weigh up and consider when making any kind of buying decision.

If you can be ahead of the curve and provide a way to reverse the risk, taking on the responsibility instead of the client, then you can make significant strides toward a transaction with the prospective customer.

The Most Common Form Of Risk Reversal – Moneyback Guarentee

The most popular and common form of risk reversal in use today is the moneyback guarantee. Usually accompanied by a time factor, a 30, 60 or 90 day moneyback guarantee is a big factor for consideration.

Consider if you can provide an outstanding moneyback guarantee for your customers or clients.

Emotional Risk Reversal

If it is impractical or impossible for you to provide monetary risk reversal, consider Emotional Risk reversal as a strategy for helping your prospective clients become a paying client.

The difference with Emotional Risk Reversal is that you offer a ‘see my previous results’ guarantee, where you show your prospect past results and share with them references, people you have served in the past. This way they can contact and discuss your services with previous clients and feel more secure emotionally to transact business with you.

Remember To Test!

Risk reversal can be scary if you haven’t tried it before. I always encourage my clients to test on a small scale before implementing on a larger scale.

Try out a risk reversal strategy for a month. Offer a 30 day, moneyback guarantee on the next 10 potential customers and analyze your numbers to see if it improves your new customer conversion rate.

Risk Reversal is a powerful strategy : there is a reason it’s so commonplace! Try to think of creative ways to take the risk of the transaction OFF of your customers and place it on your shoulders instead.