Risk reversal is a business concept I first learned of from Jay Abraham, who is considered by some to be America’s foremost marketing genius. It entails removing almost all risk from the transaction for your prospective customer (see #11 in Jay’s article). Doing this greatly enhances your chances of making a sale. Duh. But are you really reversing risk to the full extent of your ability?
Miele recently offered a full 5-year extended warranty (normally 1-year) on some products and their sales went through the roof. Hyundai famously did this in 1998 when they offered a 10-year, 100,000-mile warranty. No one else was doing that at the time and it greatly increased their sales. Hmm, I wonder what VW could do now?
Back to you: How can you put more of the power of risk reversal into your business? This just might be the key to exploding your sales.