Money Back Guaranties

Seven weeks ago, GM, yes that one the bankrupt trying to get revived, announced in North America, Canada and the US a 60 days money back guarantee on Chevrolets, Cadillacs and Buicks. I don't know if they have the same program in other countries. You can drive the car, the SUV or the cross-over for 60 days and up to 4000 miles or 6400 kilometers.

What large companies do when they offer an expensive guarantee such as money back guarantee on expensive items or good weather guarantee? They buy insurance from an insurance company, and it's cheaper than I thought.

After 7 weeks of the promotion, Bob Lutz announced that the total number of people that did return the vehicle within the money back guarantee is 1. One! Only 1 person! That's it. The total cost for the transaction for GM: $8000. They spent $8000 but sold thousand of vehicles extra. What a deal.

So why not offer your customers a full money back guarantee. I do, I never had anyone ever take me on it.

1. People like money back guarantees.
2. Money back guarantees make customers comfortable dealing with you.
3. Extremely few people will exercise the money back guarantee option if ever.
4. You can use the person exercising the money back guarantee as advertising to show that your money back guarantee works.
5. Who will the customer choose, the cheaper photographer or the photographer with 100% full satisfaction money back guarantee.
6. As a photographer, the guarantee doesn't cost you much, only your time.