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Put a strong guarantee behind your product to increase sales

Source: Growth Bites

Money-back guarantees have been around for a long time, and for good reason. Reduce risk for potential customers and show them that you stand behind your product by offering a 100% satisfaction guarantee.

Studies show that money-back guarantees evoke a positive emotional response, increasing purchase intent as well as willingness to pay a premium. So if you're likely to provide a refund to an unsatisfied customer anyway, then it's worth emphasizing your 100% satisfaction guarantee front-and-center on your pricing page and marketing materials.

Even if you already offer a free trial, a longer-lasting guarantee can provide that extra nudge. And you could mention it when the free trial ends to assuage any remaining hesitance. Of course, you may end up giving more refunds, but the hope is that this will be outweighed by the increase in purchases.
As always, make sure to A/B test it before going all-in.

What's trending?

Growth Talks: Navigating the Challenges of Product Launch

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The primary objective of developing a product is to drive its sales and generate revenue effectively.
Discovering innovative product launch ideas can evoke an array of emotions, ranging from apprehension to exhilaration. As you embark on this exciting journey, it becomes increasingly evident that gleaning insights from the success of those who have flourished in the highly competitive business environment is extremely important. 

This blog post focuses on the stories of a few startups that nailed their product launch and the main takeaways you can apply to your launch strategy. 

Discover the success stories of Filestage, Reflect & Workee 👇

Survey users to iterate toward product-market fit

Source: Demand Curve

Founders dream of product-market fit (PMF).

But most of the advice you’ll find online reads something like, “You’ll know it when it happens”—a lagging indicator. This doesn’t help you understand what PMF really is or how to get there.

Sean Ellis, who ran growth in the early days of Dropbox and coined the term “growth hacking,” found that a simple survey can help you quantify PMF. Use it as an actionable, leading indicator.

Ellis’s survey technique has been used by companies like Slack and Superhuman to reach—and accelerate—PMF.

Here’s how:

1. Survey users (ideally 100+) who have experienced the core product benefit.

Ask: “How would you feel if you could no longer use [product]?”

Group responses into three buckets:

• Very disappointed

• Somewhat disappointed

• Not disappointed

2. Measure the per cent who answered “very disappointed.”

If your “very disappointed” segment is at least 40% of the total sample size, that’s a strong sign that you’ve found PMF. That percentage is based on Ellis’s research benchmarking nearly 100 startups.

If your “very disappointed” bucket is under 40%, there are a few additional questions you can ask to iterate toward PMF.
Check out Superhuman's in-depth post for the full framework.

Thank you for reading! ✌️

We look forward to sharing more with you next week. Stay tuned!

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