In any transaction normally one side takes most of the risk. Think about that for a second.
Whenever we are asking someone to do something or buy something one side has to take more risk than the other. The risk can come in time, money, energy, emotional cost, or any of a myriad different ways.
Normally, when it comes to business, it is the person making the buying decision. The person who has to hand over the cash for whatever it is you are offering them. This is the point where they believe that all things being equal you and your solution is the best thing to solve their pain, problem or desire.
The thing is during this process of assessment they are making a value judgement. A judgement as to whether the price they pay is commensurate to the risk they are taking in trusting in what you deliver will fulfil what they want.
If the risk is too high the customer doesn’t buy. Simple.
It may be a simple idea but it is worth considering the opposite idea, that is…
The lower the risk the more likely they are to buy. Bingo!
If we can lower the risk we make it far easier for them to say yes. Think about that for a second.
Risk Reversal
This is where risk reversal comes in. We need to figure out ways that we can lower the risk to the customer (make it easier for them to say yes).
The first step in doing that is to…
Ask: How can you remove some or all of the risk of a buying decision?
There are usually dozens of ways to do this…
Here is a simple one to start. Offer guarantees.
Guarantees come in all shapes and sizes. Money back, performance, quality, time etc
Try before you buy.
Payment delaying.
Deposits/Instalments
There are lots of ways that you can lower the barrier for your customers, which in turn make it far easier for them to say yes to you.
So before we end this ask yourself…
How can you lower the risk to your customers?
If you can come up with a few good ideas to test, then you will see just how powerful it can be.
Oh and if you like this idea you will probably love THIS