Minimize the Risk to Increase the Profit

There are some unique strategies for you to increase your business profit, one of those strategies is by minimizing the risk of your customers.

Do you realize what makes a transaction? It is when the demand meets the supply. But actually there is more to it, the risk that the supply does not meet the demand after it is supplied.

Let me make explain it in more simple words. For instance, you are selling a headache pill to a customer, you explain to the customer that the pills will cure the headache. The customer trusted you that the medicine will work like you said but the customer still have some doubts. Doubts that the pill will not cure the headache. For this condition the customer actually realize that there is a risk that maybe the pill will not cure the headache.

The customer doubts that he will not get what he expect to get. The customer is afraid that he will get result that is less from his expectation or worse he is afraid that the pill would only make the headache pain stronger.

Everybody has this kind of doubts. Even you and me have this kind of doubts. It is natural and inevitable. This risk exist more in things that have abstract (not exact) value like service.

The key to win this situation is to minimize the risk of your customer. How are you going to do that? By taking the risk from the customer. You give him an offer saying that if the pill does not cure the headache, the customer does not need to pay. That way he has no risk because you are taking his risk to be your risk. Every customer will love this kind of deal.

If it is possible, you could even double dare the customer with something like, if the customer does not get the result as expected, the customer can get full refund.

Even more extreme offer is if the customer does not get the result as expected, the customer can get full refund plus the customer can keep the product for free.

The variation of the offer depend to your product and your creativity.

Important: this kind of risk minimize offer can only be applied if you have a high quality product or it will be a boomerang your business.