A few days ago, inside my Daily Email House community, I invited people to share:
1. “The most you’ve ever spent on a single book, course, or coaching that got you EQUIVALENT OR GREATER value”
2. “The most you’ve ever spent on a single book, course, or coaching that got you ZERO value”
The responses were interesting and revealing. (It might be worth asking your own audience, either via email or in your community, to share the same.)
One of the responses was from a House member whose worst high-ticket purchase was a £1300 program to help build an online fitness business.
Why was this the worst?
Says the House member:
“2 weeks in, I realised this was not what I wanted to do and literally just quit. Didn’t even bother trying to get my money back because it was 100% my fault.”
This speaks to my experience with money-back guarantees.
I personally never get reassured when I see an offer with a money-back guarantee because I know will most likely never claim it, even if I never open up the product… or if I open it and find it disappointing… or if I simply decide it’s not for me.
And vice versa.
I don’t offer money-back guarantees on the stuff I sell. But I have heard-tell that people who are reassured by money-back guarantees tend, more than the mean, to make for bad long-term customers.
My point today is that risk reversal can be done differently, without promising money back.
It can be done in a way that reassures good prospects, and doesn’t reassure or invite bad prospects.
For example, there’s the guarantee I made during the “I endorse you” auction I ran last month. The guarantee there was to keep working with and promoting the winner (The Amazing Nick Bandy) until I’ve paid back the entire winning bid.
(So far, I’ve been working behind the scenes with Nick, and setting the stage for him to make his $31k, and then some, back.)
As a second example, there is what I’m doing now with the “Get you a $1k+ offer” offer I have been talking about for the past week. As a reminder, this offer is for you if:
– You have tried offering coaching in the past, or are trying to offer it now, without much success, and…
– You have a small but dedicated list of readers, meaning 500 or more folks who open your emails whenever you send one.
If that’s you, then what I’m offering is to help you repackage “coaching” into a simple 1k+ offer that actually sells for you, and to keep helping you until you’ve sold $10k of your new offer.
Sounds attractive? Then hit reply and let me know.
If I’m actually suited to help you get to where you wanna go, I’ll share the full details of this offer… including how I’m taking the risk from your shoulders and putting it onto mine, and how I’m tying my success to your success.