Social Media Marketing Plan: What About Risk Reversal?
Do you offer other risk reversal strategies as part of your social media marketing proposition? Read this wee article and see if you can use any of the following tactics to help increase your conversions, increase customer loyalty and help you win more clients.
MONEY BACK GUARANTEE Do you offer an unconditional money back guarantee or a conditional money back guarantee? Maybe you offer a money back guarantee, but insist on the completion of a refund questionnaire by customers, clients or complainants to help reduce/eliminate fraudulent claims.
FREE TRIAL Perhaps you reverse the risk, by offering a free trial or free demo of what you have to offer? It could be for a limited time, or some options/features are closed off.
JOINT ACCOUNTABILITY Maybe you already are used to holding your own suppliers accountable, but do you hold your clients and customers accountable too? Then again, do you allow your customers and clients to hold you accountable and do you have a mutually agreed means of measuring and enforcing such an arrangement? What are the consequences of either party for failing to meet their agreed obligations? CASE STUDIES Do you offer to share case studies or testimonials for your clients to verify before they commit to using your services? INSTALLMENT PAYMENT PLAN Perhaps you offer an installment payment plan to help reduce the investment that your clients have to make? PAYMENT ON RESULTS Do you only want payment on results? How else can you reduce the risk for your clients? FREE MEANS FREE Maybe you want to offer your widget, gadget or training course for FREE, to help offer exceptional value (and maybe, just maybe you simply want to build your list and get some referrals too.
) INSURANCE / ASSURANCE Do you have a particular policy in place to put your prospects at ease? WARRANTY Do you have a 6mth, 12mth or in the case of some double glazing companies - a 10yr warranty on the goods and services you offer? INSTITUTE/ASSOCIATION /GOVERNING BODY Are you governed by a particular association's guidelines, code of conduct, ethos or perhaps there is a Governing Body or accreditation scheme that you have to adhere to? FREE ITEM OF VALUE Do you offer a free item of value that the prospect can keep as part of your lead generation or as part of a valued added gift used as a closing tool such as a FREE DVD, CD, Report, White paper, webinar, ebook, book etc - I'm sure you get the idea.
Furthermore, do you let your clients and customers keep the Free item of value (worth £RRP) even if they cancel? The Cooperative supermarket used to offer a replacement item plus your money back, but I'm not sure if they still do it.
What other methods can you use to help reduce the risk of your prospect's and put their mind at ease.
After all, what prospects hate is broken promises.
So try not to promise anything that you can't deliver on.
Try and remove the barriers to entry, or obstacles in the path of a buying decision by using a risk reversal strategy to make your life and the life of the prospect - easier.
And remember - the bigger the price, the longer it takes for the prospect to make a buying decision, so think how you can incentivise them.
Further more, buyers are led by their emotions when making a buying or cancelling decision - but use logic and reason to justify the decision after it's been made Food for thought...
Hope that helps.
Regards Fraser
MONEY BACK GUARANTEE Do you offer an unconditional money back guarantee or a conditional money back guarantee? Maybe you offer a money back guarantee, but insist on the completion of a refund questionnaire by customers, clients or complainants to help reduce/eliminate fraudulent claims.
FREE TRIAL Perhaps you reverse the risk, by offering a free trial or free demo of what you have to offer? It could be for a limited time, or some options/features are closed off.
JOINT ACCOUNTABILITY Maybe you already are used to holding your own suppliers accountable, but do you hold your clients and customers accountable too? Then again, do you allow your customers and clients to hold you accountable and do you have a mutually agreed means of measuring and enforcing such an arrangement? What are the consequences of either party for failing to meet their agreed obligations? CASE STUDIES Do you offer to share case studies or testimonials for your clients to verify before they commit to using your services? INSTALLMENT PAYMENT PLAN Perhaps you offer an installment payment plan to help reduce the investment that your clients have to make? PAYMENT ON RESULTS Do you only want payment on results? How else can you reduce the risk for your clients? FREE MEANS FREE Maybe you want to offer your widget, gadget or training course for FREE, to help offer exceptional value (and maybe, just maybe you simply want to build your list and get some referrals too.
) INSURANCE / ASSURANCE Do you have a particular policy in place to put your prospects at ease? WARRANTY Do you have a 6mth, 12mth or in the case of some double glazing companies - a 10yr warranty on the goods and services you offer? INSTITUTE/ASSOCIATION /GOVERNING BODY Are you governed by a particular association's guidelines, code of conduct, ethos or perhaps there is a Governing Body or accreditation scheme that you have to adhere to? FREE ITEM OF VALUE Do you offer a free item of value that the prospect can keep as part of your lead generation or as part of a valued added gift used as a closing tool such as a FREE DVD, CD, Report, White paper, webinar, ebook, book etc - I'm sure you get the idea.
Furthermore, do you let your clients and customers keep the Free item of value (worth £RRP) even if they cancel? The Cooperative supermarket used to offer a replacement item plus your money back, but I'm not sure if they still do it.
What other methods can you use to help reduce the risk of your prospect's and put their mind at ease.
After all, what prospects hate is broken promises.
So try not to promise anything that you can't deliver on.
Try and remove the barriers to entry, or obstacles in the path of a buying decision by using a risk reversal strategy to make your life and the life of the prospect - easier.
And remember - the bigger the price, the longer it takes for the prospect to make a buying decision, so think how you can incentivise them.
Further more, buyers are led by their emotions when making a buying or cancelling decision - but use logic and reason to justify the decision after it's been made Food for thought...
Hope that helps.
Regards Fraser
Source...