VP: 4 Types of Guarantees

The most significant objection to any product or service is risk.
We must completely eradicate the feeling of risk, leaving no reason for customers not to purchase.

If risk could speak, it would ask, "What are the chances I'll get what I want if I spend my money on this?"

WHY IT MATTERS: People pay for certainty. What is my perceived likelihood of achievement if I buy from you? The greater the odds, the more likely I am to purchase.

THE FOUR TYPES OF GUARANTEES

Unconditional: An unconditional guarantee is a pledge made by a company to its customers that ensures complete satisfaction with a product or service. With this type of guarantee, customers can return the product or request a refund for any reason, without any conditions or questions asked. This type of guarantee is often used to build trust and remove potential barriers to purchase, as it minimizes the risk for the customer.
Conditional: A Conditional Guarantee is a type of guarantee where the company promises to satisfy the customer, but this promise is contingent on certain conditions being met. These conditions are typically actions that the customer must take, such as using the product correctly or maintaining regular service appointments. If these conditions are not met, the company is not obliged to honor the guarantee. This type of guarantee is often used in situations where the product or service’s effectiveness is dependent on how it is used by the customer.
Anti-Guarantee: An Anti-Guarantee is a type of guarantee where the seller explicitly states that all sales are final and no returns or refunds will be provided. This is typically employed when the product is consumable or its value significantly decreases once used or opened. The purpose of an Anti-Guarantee is to protect the seller from potential losses associated with returns or refunds.
Implied Guarantees: Implied guarantees are any offers that are performance-based. "If I don't perform, I don't get paid." However, there's also the flip side, "If I do a great job, I will be very well compensated." These only work in a situation where you have transparency for measuring the outcome and trust (or control) that you will get compensated when you do perform.