5 Satisfaction Guarantees: Choosing The Right Type Of Satisfaction Guarantee

Satisfaction guarantees are essential to convincing uncertain prospects to register for your event

. It's how you ease their fears about making a mistake in signing up for your seminar.

There are several types of guarantees you can offer. Which do you feel most comfortable with?

1. Lifetime guarantee: if participants become dissatisfied with their attendance at the seminar at any point, either at the event or even months later when they're using the information, you'll give them a total refund of their registration fee. Add even more power to your guarantee by also giving them a gift or cash bonus to compensate them for their trouble.

2. Total satisfaction or 100% money back with a time limit, say 30 to 90 days. You might require that attendees prove that they honestly tried implementing the information taught in the seminar. Attendees get to keep their seminar materials.

3. Total satisfaction or 100% money back, no questions asked. Prospects must speak up and ask for their money back by the end of the event. You may want to let them keep their materials, but you could require that they turn them in.

4. Partial attendance with a total-satisfaction guarantee. Participants can attend part of the event (e.g., the first morning or the first day). Then, if they're not satisfied, they can turn their materials in at the registration table for a full refund.

5. Total satisfaction or you offer a partial refund. You withhold either a percentage or a specific dollar amount to cover your meeting room costs. You can use this with any of the guarantees above, though it's more common with #3 and #4.

The stronger your guarantee, the better. It shows that you are 100 percent confident about the quality of your content and seminar. The more "weasel clauses" you put in -- such as making people prove they've used the materials -- the more it appears that you have something to hide and are not sincere about your offer. The most successful seminar marketers offer total satisfaction guarantees.

There is a chance that strengthening your guarantee will increase the number of refund requests that you get. If that happens, go back and analyze your numbers. What you'll probably find is that although more people requested refunds, the stronger guarantee also helped you secure significantly more registrations. Even after you honor all refund requests, you'll still have a larger net profit with the stronger guarantee.

Also recognize that the longer your guarantee is (e.g., a 30-day guarantee vs. a guarantee that expires the minute your seminar ends), the less likely it is to be invoked. If you tell attendees that they have to let you know by lunchtime whether they want their money back, they'll feel pressured to make a decision about requesting a refund. If they have just the tiniest shred of dissatisfaction, the chances that they'll ask for their money back will skyrocket. Extending your guarantee to 30, 60, 90 or even 365 days after the event takes the time pressure off of them. It also shows that you have their best interests at heart, because you want to give them a chance to put their skills to the test before they make the "final" buying decision.

by: Jenny Hamby

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