Cutting back on your customers’ risk will earn you a competitive edge.

It’s probably clear that a thriving business is built on clients, and lots of them. But how can you outcompete the rest of your field and bring in the customers you need to succeed?

Well, a tried and tested way to make your product or service more attractive is to minimize the risk to your customers. After all, people don’t like uncertainty and, to make potential clients choose you over the competition, you need to eliminate as many risk factors as possible.

For instance, imagine you’re in the market for a pony, and find two ponies of equal quality. One costs $500 and the other $750. However, the seller of the more expensive pony offers you a 30-day money-back guarantee to see if the horse gets along with you. He also offers you free hay and training in pony care, and to top it all off, if you do change your mind about the pony, he’ll come pick it up and clean out the stable, free of charge.

All of a sudden, the $250 difference doesn’t seem so big and the more expensive horse becomes the obvious choice.

So, to win over as many clients as possible, try offering them a better-than-risk-free guarantee or a BTRF. A BTRF is way more attractive than any standard guarantee you’ve seen because it doesn’t just promise the customer a total return of their money if they’re dissatisfied, it also offers to compensate them for the time and effort your product cost them.

Such a sweet deal makes it very difficult for anyone to say no. For example, say the pony you buy eats too much or keeps bucking off its rider; with a BTRF, you can get your money back, plus compensation for any inconvenience.