Two guys sold horses.
Guy 1 – Met a family who was interested in buying a horse. He told them, “give me R30 000, take the horse home, and at the end of the month, let me know what you thought about it. Then, if you don’t like it, bring it back, and I’ll either give you another horse or else I’ll give you your money back.”
Guy 2 told the family, “the horse is valued at R30 000, but here’s what I suggest. I don’t want you to pay me; please take this horse home. I’m going to transport it to you, I’ll bring you some hay and feed, and I’m going to bring you a brush so that your kids can brush the horse. I’m also going to show your kids how to care for this wonderful animal. I want you to keep the horse and ride it for a month, enjoy it, understand it, give it carrots and apples and at the end of the month, if you don’t love this horse, I will collect it, and you don’t owe me a cent. However, if you do like the horse, then pay me the R30 000.”
Which guy do you think sold his horse?
These two different sales approaches describe risk reversal perfectly. If you can reduce or even eliminate the risk of doing business with you, converting your prospect into a buyer is exponentially easier! You make it easy for them to do business with you.
Right now, you are thinking, “this won’t work for my business.” Don’t be sceptical. Risk reversal can work in any industry for any business. All it takes is a change of mindset and creative thinking.
Risk reversal is creatively demonstrating that you can eliminate the risk in the mind of the client. This is a brilliant differentiator, and it can set you apart from your competitors. It positions you in the minds of clients as the obvious person to do business with. As a result, your clients feel that they cannot lose.
Make your client an offer that they cannot refuse. You will probably win every deal.