People like guarantees because nobody wants to be stuck with something they don’t want. The problem for most businesses is that their products aren’t good enough for people to want them unconditionally. The idea here is to “wow” potential customers and make them think “Hm, if this business is offering a much better guarantee, they must have a better product”.
You can be extravagant about this and advertise it. If the standard is a 1-year warranty, offer 3; if it’s 30 days, offer 90.
- You will get returns and you need to be able to handle them
- The product needs to be durable/good enough to handle the guarantee
This is part of being generous that makes customers want to give back and come back to do business with you.
- Ease: Tough
- Cost: $100+
- Scope: Medium
- Speed: Slow
- Reach: Global