Experts Recommend Getting Legal Advice Before You Offer That Guarantee
It will be fair to say that business guarantee is one of the most effective marketing tools that have been used by many businesses over the years to market their products and services. The business guarantee is a compelling way to attract customers by removing the risk they might have and therefore eliminating doubt about purchasing a good or service. In fact, it is one of the most powerful sales and marketing tool that can increase your revenue multiple times if it is used in the right manner. However, before offering a guarantee, it is important that a business understands what they are committed to and what rights they might have. This article covers a few of those issues but please take note; this is not legal advice and for that you must consult a qualified lawyer.
In simple terms, a business guarantee can be described as a promise that is offered by the business to a paying customer. The guarantee is followed by a process. After all, you are giving a guarantee to fulfil the promise in case your product or service does not deliver the value, as promised.
One of the biggest advantages of a guarantee is that it allows the potential customers to buy from you without any fear or risk. This fact alone can increase the revenue a lot if it is advertised in the right manner. However, this is not the only benefit of offering a guarantee. The other benefit of offering a guarantee is that you also take a close look at your business processes and ensure that customers always get what they want and what they have paid for.
After all, if you do not deliver on the promises made in your guarantee, you will have the pay the customer in the form of giving the product or service for free or by offering some monetary compensation. In other words, you are going to be at loss in case your product or service is not up to par.
Almost all the businesses these days offer some kind of guarantee. For instance, you will find a any electrical goods retailer offering a money back guarantee in case their products are not up to the buyer’s satisfaction. Also, a number of online businesses offer money back guarantee in case the customer is not satisfied with the purchase. This is especially true in case of digital goods where the product is in the form of an electronic book or some other digital service.
Even though guarantee is an exceptional tool of increasing your sales, it is important that it is worded in the right manner. This is the reason that legal experts recommend hiring the services of a professional and experienced lawyer to write a guarantee so that it is written in the right manner and your business does not suffer unduly due to incorrect wording of the guarantee offered. One of the bigger law firms in Auckland is McVeagh Fleming and you can read about them on their website http://www.mcveaghfleming.co.nz
It is important to keep in mind that guarantee offered by your business is enforceable in a court of law which means that in case your warranty is not worded carefully, your customers can take you to court and sue for damages. The damages can completely destroy your business but the bigger cost is in fighting all such lawsuits.
However, all of the potential pain can be avoided by doing it right the first time. There are lot of dispute lawyers in Auckland that offer help to businesses to write their guarantee in the right manner. If offering a guarantee is worded in the right manner, it will not only keep your business safe but it will also allow you to increase your revenue.