Free YouTube Transcribe

Video transcript

Most guarantees suck, here's how I make millions from them

Daniel Iles · 5,948 words · 28 min read

Want to search this transcript, jump the video from any line, or download it as TXT, SRT, or VTT?

Open in the transcript tool

Full transcript

0:00This is the video I wish I had when I

0:01was first getting into business because

0:03none of these companies want to talk

0:05about the actual dirt on their own

0:06business. But most guarantees that

0:08companies offer are complete garbage.

0:10But I see that as even more reason to

0:12make videos like this, educating the

0:14type of entrepreneur I was just a few

0:15years ago. Because guarantees, when done

0:18right, can make you millions of dollars

0:21or even multiple millions of dollars per

0:22month like my guarantee makes my

0:24company. So for context, I have a social

0:26media marketing company, make 5 million

0:28bucks a month, and we've tested dozens

0:30versions of guarantees over the years

0:31and worked with clients to market the

0:32most successful ones. And in this video,

0:34I'm just going to tell you what the best

0:36ones are as well as roast some examples

0:38of what the worst ones look like from

0:39companies you probably know. And if

0:41you're running a business right now and

0:43you don't have a guarantee, I can almost

0:44guarantee you that you're leaving money

0:46on the table. And if you have the wrong

0:48type of guarantee, you might actively be

0:50losing deals because of it. Now, if

0:52you're watching this right now with a

0:53heightened sense of skepticism because

0:55I'm in favor of guarantees, I get it.

0:57You should be. Guarantees are frowned

0:58upon for a good reason. Some people

1:00think guarantees just mean, no matter

1:01what, I don't get the short end of the

1:03stick, which is not what a guarantee

1:04really means because first and

1:06obviously, there are no guarantees in

1:08life. Like the sun isn't guaranteed to

1:10rise in the morning tomorrow. But that

1:11is obviously kind of a cheap shot,

1:13right? Like most people don't think that

1:14way. And that's not what we really mean

1:16when we're talking about guarantees in

1:17business. So more practically, let's

1:19just talk about guarantees with

1:21conditions. As in you have to do

1:22something, a condition, in order to

1:24qualify for the guarantee, and the terms

1:26are agreed upon in writing and

1:27enforceable. So that's a conditional

1:29guarantee. Let's also address the

1:30elephant in the room. Conditional

1:31guarantees are not made in the favor of

1:34the consumer exclusively at the cost of

1:36the business owner. Like nobody that

1:38runs a successful business offers a

1:39guarantee that they expect to lose money

1:41on, right? That's not how business

1:43works. Every smart company structures

1:44their guarantee so that on average, they

1:46make more because of it. That's just

1:48business. But that doesn't mean that all

1:50conditional guarantees imply that the

1:52consumer on the other end is worse off.

1:55Absolutely not the case. Just that on

1:57average, when operated by a smart

1:58business, the guarantee does ensure that

2:00the business makes more money because of

2:02it. So the problem becomes when

2:04companies structure guarantees with

2:05conditions so ridiculous that almost

2:07nobody can qualify and the business

2:09knows it, but the consumers don't.

2:10That's what's not nice. And here's the

2:12dirty secret. The company always has

2:14more information on the consumer than

2:16the consumer. Like they know the average

2:19client behavior over hundreds, if not

2:21thousands, or sometimes hundreds of

2:22thousands of clients. They know their

2:24completion rates. They know exactly how

2:26many people are going to DQ themselves

2:27on a certain criteria. They've run the

2:29numbers on their own offer. You haven't.

2:31You don't know what the inside of their

2:32business looks like. So when you see a

2:34guarantee with a long set of conditions,

2:35your first question shouldn't be, can I

2:37hit these? It should be, how many people

2:39on average actually do? And usually when

2:41you dig into it, the answer is almost

2:43none. Because once you understand what

2:44the math looks like from the business

2:46perspective, you start to understand how

2:47these companies are making insane

2:49amounts of money without having to risk

2:51the guarantee being fulfilled on

2:53themselves. But does that mean that

2:54every single company that offers a

2:56guarantee is evil? No, because there is

2:58a right way to do it, and that is what

2:59this video is about. With that, let's

3:01get into the first example of a very bad

3:04guarantee broken out bar for bar. So

3:06this first one comes from a well-known

3:07online coaching program. Most of y'all

3:09listening to this have heard of it, I

3:11promise, and to avoid a cease and

3:13desist, I won't be naming it. But the

3:15program costs is a hair over 40,000.

3:17They have a 1-year contract, and they

3:18sell exclusively to a certain type of

3:20business owner. The guarantee sounds

3:22really solid. If you don't hit 150,000

3:24in annualized revenue in 52 weeks,

3:27they'll coach you for 6 months for free.

3:29But here's where it really falls apart.

3:30To qualify, you have to make payments on

3:32time and attend at least 90% of calls.

3:34Let's start with the payments on time

3:35thing. First, as a consumer, you'll

3:37always pay on time, right? You're

3:38committed, you're motivated, you're

3:39ready to go. That's what everyone thinks

3:41when they buy on the sales call. But

3:43this isn't a week-long sprint with a

3:45single payment, right? This is a

3:47year-long contract on a program that

3:48costs tens of thousands of dollars. And

3:50a lot of people buying this specific

3:53niche of business coaching experience

3:56seasonality in their business. Without

3:57giving away too much here about the

3:58business, there's definitely high and

4:00low months for the customer demographic

4:02that this company serves. And this

4:04company knows that. They know there's

4:06seasonality to the people that they're

4:07selling. And so when looking at a long

4:09enough timeline, especially a year, even

4:11on services that most people would never

4:12consciously choose to cancel like your

4:13phone plan, your internet, Netflix, like

4:15those still have missed payments in the

4:17double digits annually. Not because

4:19people want to leave, but because life

4:20happens. Like a payment fails, you know,

4:22a credit card expires. Someone forgets

4:24to update their billing info, whatever.

4:25Now, if you take high-ticket coaching

4:26program with less sticky value prop than

4:29your phone bill, way more friction, and

4:31especially in an industry that is highly

4:33seasonal, your turn isn't 10% or 15%. It

4:36can be 40, 50, 60% easily. So what

4:38actually happens with this condition is

4:40a natural filter. The most

4:42price-sensitive buyers, the ones who are

4:44already strapped for cash, already

4:46stressed out about making the payments,

4:48basically the worst candidates to

4:50succeed in the program, they naturally

4:51miss a payment and disqualify themselves

4:53before they even get close to being able

4:55to fall back on that guarantee for

4:57safety. So easily, the worst customers

4:59become a non-issue. So what's left then?

5:01The business owners who are more

5:03established are still in the program.

5:05They got better cash flow, they're more

5:06disciplined, they're more likely to

5:07implement, and they're more likely to

5:09succeed, which means that the company

5:11doesn't ever have to pay out the

5:12guarantee because the client got the

5:14result. And honestly, this condition is

5:16actually kind of fair. Like if you're

5:17not paying, you shouldn't qualify for

5:19the result and definitely not to get

5:21your money back because you're already

5:22not paying. Like I actually like that

5:23condition of the guarantee from a

5:25business perspective because it gives

5:26the worst clients a chance to filter

5:28themselves out, but it still protects

5:30you, the business owner, from having to

5:31deliver on what is categorically the

5:33most difficult type of client. It's a

5:35very smart filter dressed up as a

5:37fairness clause. And in my opinion, most

5:39businesses offering a conditional

5:40guarantee should have the requirement of

5:43payment to qualify for the guarantee.

5:45But of course, keep the contract length

5:47and payment terms realistic for your

5:49industry. There's a lot of ways to abuse

5:50this in in a way that wouldn't be fair.

5:52For example, a 100-year-long contract

5:54term with a 100% money-back guarantee at

5:56the end of 100 years obviously is not

5:58going to impress the mortal humans out

6:00there. But the real problem with this

6:01guarantee isn't the payment conditions.

6:03It's the second condition where things

6:05get really kind of tricky. So the second

6:07condition is to attend 90% of the calls.

6:08And when you read that, your first

6:09instinct is, fine, like, right? I'm

6:12showing up for the thing that I paid

6:13for. I'm paying for support. I will use

6:16it. It sounds reasonable to get that.

6:18But that is exactly what they want you

6:20to think. Because the program does

6:22include a lot of calls. A lot of them.

6:24Like to find out how many, you actually

6:26have to go to a different page in the

6:27contract and read through the

6:29deliverable section. And it's not even a

6:31count on how many calls you get, and not

6:34even all the calls are numbered. It's

6:35not like five calls on ads, five calls

6:37on dealing with seasonality. Instead, it

6:38is in a format that makes it very

6:40difficult to figure out how many total

6:42calls there really are. So some are

6:44Monday through Friday, some are

6:45bi-weekly, others are quarterly, and

6:47some are up to X amount of times per

6:50year on undisclosed days throughout the

6:52year. And I want to highlight that in

6:53the contract, it actually says up to

6:55several times. And all of this amounts

6:57to it being almost impossible to

6:59calculate exactly how many calls you

7:01need to show up to qualify for the 90%

7:04of calls that you need to show up to if

7:05you want to get the guarantee. But if

7:07you take the time to run through the

7:07math and just do it based off of

7:09everything that the contract includes, a

7:12rough estimate includes roughly 568

7:15calls over the year. That means you need

7:16to attend 511 of them to qualify for

7:19this guarantee. That is 43 calls per

7:21month every single month for an entire

7:23year. That is more than two hours per

7:25business day on call every business day

7:28of the entire year for 12 months

7:29straight. And if you were a business

7:30owner running an actual business, you

7:31know you're not doing any of that. And

7:33they know that you're not doing any of

7:34that, which is kind of the point. Which

7:35means the guarantee that they have that

7:38they're marketing costs them nothing to

7:39deliver on. It's basically fluff. And

7:42I've talked to multiple people inside

7:43this actual business, both in the sales

7:45and the fulfillment side, and I can

7:46confirm that this has never actually

7:48happened for a single customer as far as

7:49the the three individuals that I asked

7:51are aware. So that's the game that

7:53they're playing. Impractical guarantee

7:55to redeem, which still sounds realistic

7:56enough when discussing the sales process

7:58because prospects will logically skip

7:59over it. 90% of the calls, yeah, I'll

8:01show up to the calls, no problem. But it

8:02definitely works. Now, let's look at

8:04another guarantee that also technically

8:07works to never pay out to the customers,

8:09but it does not sell well at all. And

8:11this is a year-long program just like

8:13the last one. But this one is only for

8:14several thousand dollars total for the

8:16year. And so it's aimed at very new

8:18business owners and promises to get them

8:20leads through cold outbound. And I'm

8:21going to walk through the conditions one

8:22by one because the details in this one

8:24are what make it so bad. Like it is

8:26actually hilariously funny as the

8:28further you go down. So to qualify for

8:30this guarantee, here's what you get. You

8:31get 6 months of coaching. So if you're

8:32trying to redeem this, you just get more

8:34of what doesn't work already. But you

8:35also get a full cash back refund, which

8:37is cool, and a thousand-dollar cash

8:40bonus. Now, when you see that

8:41thousand-dollar cash bonus, when you see

8:43that extra rack given to you on a silver

8:45platter, that's when it gets juicy.

8:46That's like, holy smokes. What a willing

8:48consumer wouldn't do for a free thousand

8:50buckaroos, you know what I mean?

8:51Especially in writing, this is a legit

8:53contract. They're smelling the money.

8:55They're like, yeah, I'll do anything to

8:56potentially have the chance to be

8:58guaranteed an extra thousand dollars.

8:59Can I get the the Vince McMahon meme

9:01edited over this?

9:05The one where he's sniffing money. You

9:06know those GIFs?

9:08The the WWE guy? Vince McMahon?

9:12Mahome. Who the hell is Mahome? I don't

9:14know. That's the guy, right? Is it

9:16McMahon? Vince McMahon. The former CEO

9:18of the the

9:20Give me that guy.

9:23It is very telling of this company and

9:25the level of sophistication that they

9:26expect their prospects to be at is all

9:27I'm saying. And you would think that it

9:29works. But here's where we get into the

9:3110 condition requirements to actually

9:33get those 1 million pennies that they

9:35offer for free, right? And first off, 10

9:36is a lot of conditions, right? So we're

9:38going to try our best to whittle it down

9:39to just one and two. If I'm reviewing

9:40these, being critical of like, what we

9:42could actually change this guarantee to

9:44be without losing the substance while

9:46still being far more fair to the

9:47consumers. So the first one is you

9:48haven't signed at least 10 paying

9:50clients. This really shouldn't be a

9:51guarantee requirement. It makes it seem

9:53like a hoop to jump through. Instead, it

9:55should be in the above paragraph listed

9:57as part of what you get. So, you are

9:59eligible for a full refund plus $1,000

10:01additional payments made to you if you

10:03have not signed at least 10 paying

10:04clients. Granted, you meet the following

10:06conditions. Immediately, we're removing

10:08one of the conditions from the program,

10:09making it more simple, making it easier

10:11to qualify. Next, 180 days must lapse

10:13before you can claim anything. So, if

10:15you have to wait 6 months before you're

10:17even eligible for anything, like most

10:18people have forgotten what they bought 6

10:19months ago, especially ones that haven't

10:21seen results by that point, right? They

10:22just kind of drop it. And so, this is

10:24actually not that bad. It's good to set

10:26realistic expectations for outcomes. Say

10:28it takes 6 months. I actually think keep

10:30it, but let's also stuff it in the first

10:32one, in the above paragraph, so it

10:33doesn't seem like a condition, but

10:34rather a description of how the

10:36guarantee works. Eight conditions left.

10:37We're on the right track. Attend at

10:39least 16 Q&A sessions within 100 days.

10:42Now, if we're looking at optics of how

10:43this reads, first I wouldn't call them

10:45Q&A sessions. My immediate thought as a

10:46consumer is if I need 16 Q&A sessions

10:50after going through tons of the video

10:51modules that I just paid for, how good

10:53were those video modules that I just

10:54paid for, right? It's not great for

10:56optics. But, this condition is actually

10:58pretty easy to abuse by a consumer as

11:00well, the way that it's laid out,

11:01especially if you have lots of Q&A

11:02sessions. If I was a consumer trying to

11:04abuse this guarantee, what I would do is

11:05I would just do all the 16 in the very

11:07last few weeks of the program without

11:08having participated in the first half of

11:10the program to actually get use of those

11:11Q&A sessions and just cash in the

11:13guarantee. So, instead, I recommend

11:14having a monthly / weekly minimum. For

11:17example, require attendance of 75% of

11:20the weekly strategy calls. It's only

11:21three extra calls in bracket. By the

11:23way, do you see what I did there? With

11:24the 75% cuz we're taking it from the

11:26last the last offer?

11:29Do you like that one? We can learn from

11:31other businesses here. Do it ethically.

11:33No?

11:34So, in practice, it's just three extra

11:36calls. They do 19 calls if you do 75%

11:39instead of the 16 that the original

11:40contract is asking for. But, what it

11:41does actually is it forces consistent

11:44participation throughout. And show up to

11:4675% of the weekly coaching calls sounds

11:49reasonable on a sales call instead of

11:51stack all of your calls at the very end.

11:53Next condition, make the payments on

11:55time. That one's reasonable, keep it for

11:57all the reasons we've already discussed.

11:58So, now we've got the guarantee lined

11:59out to just this. You are eligible for a

12:01full refund plus $1,000 additional

12:04payment made out to you if within 180

12:05days, you've not signed at least 10

12:07paying clients. Granted, you meet the

12:08following conditions. One, make all

12:10payments on time, makes sense. Two,

12:12attend 75% of weekly coaching calls. If

12:14you're pitching this on a sales call,

12:16those are the two easiest conditions to

12:17meet. No question that any prospect is

12:20going to have a problem with that. Next,

12:21let's keep going cuz they got a whole

12:22bunch more crazy conditions. Every sales

12:24call recorded and tracked using their

12:26sales process. This is a classic gotcha,

12:27don't recommend it. If your call

12:29recorder glitches once, suddenly you're

12:30disqualified and you won't find out

12:32until months later when you try to

12:33redeem that guarantee that you were

12:35missing a single call. It's not nice to

12:36the prospects, you should probably cut

12:38it. Next, the offer must be audited by

12:40their team. This basically tells the

12:43client that they have to change their

12:44business and their offer before they can

12:46even qualify for the guarantee to some

12:48undisclosed

12:49offer structure that they may or may not

12:52agree to. It's a sales call killer.

12:54They're going to press you on the

12:54details and you're not going to have a

12:56lot of compliance with it. Cut it. Next,

12:58complete all foundational modules. This

13:00is probably just watching videos, easy

13:02enough, but it just adds words to the

13:03contract. Cut it. If it's not essential,

13:05cut it. Next, if you're under 10 clients

13:07by day 120, you must email them to

13:10request further support. This is a big

13:12one because it tells you that real

13:13support doesn't kick in until you've

13:15been struggling for months. Like there's

13:17almost no other way to read that. And

13:18when I saw this as a consumer, I just

13:20laughed. I immediately understood that

13:21there was no way to actually get the

13:24support that you're looking for. This

13:25screams poor optics. Cut it. Next, send

13:281,300 cold emails per day Monday through

13:30Friday. This is this is just crazy.

13:31Email deliverability, software problems,

13:34things that are completely outside the

13:35client's control, any kind of technical

13:36glitch, and you're immediately

13:37disqualified. Anyone that's serious and

13:39has done any kind of business online

13:41knows that the guarantee is bogus at

13:42this point. Last one cuz they got to

13:44really hit it home. Send 500 cold DMs

13:46per day across LinkedIn, Facebook, and

13:48Instagram equally. So, Instagram and

13:50Facebook will outright ban your account

13:52for sending that much of volume of

13:54identical messages. I don't even know

13:56how the owners of this business didn't

13:57think through this, but like you

13:58literally can't send this this many

14:00messages. You're disqualified through no

14:02fault of your own by the instructions

14:04they give you in the guarantee.

14:05Obviously terrible. Now, there are

14:07people that will sign this contract

14:09without even reading it. They'll just

14:10pay the money and and hopefully they get

14:12the contract before they have to pay the

14:13money so that they know what they're

14:14getting themselves into. But, obviously,

14:16there's a lot of bullcrap in this

14:17conditional guarantee. And this business

14:19probably thinks that their clients are

14:20not smart enough to see it. But, I can

14:21almost guarantee this business that

14:23reducing these conditions on the

14:25guarantee to make it more simple, just

14:26the two that we recommend, will actually

14:28make them more money by converting

14:30audiences that do want some guarantee

14:32can see through this one, which I I hope

14:34everyone can. And even if they do pay

14:35out one or two people here and there

14:38with this more loose guarantee

14:40structure, I can practically guarantee

14:42you that this business will make far

14:43more money because of it since it comes

14:45across much nicer, much more

14:47approachable in the sales call. And I

14:48only say this cuz I have had a wide

14:51variety of guarantees and conditions in

14:52my business. So, now let's talk about

14:54what we're actually running. Over the

14:55last few years, we've tested a lot of

14:56different guarantees and the conditions

14:58behind them. Some were terrible, I'll be

15:00honest. I'm surprised my COO let them

15:01leave the office. And some of them

15:03worked so well for us that they're

15:04responsible for scaling our company to

15:05multiple millions of dollars per month

15:07like we make today. Now, the first

15:08guarantee I ever ran was a million view

15:11guarantee, which is actually the one

15:12that we still offer today. But, the

15:13conditions behind it look completely

15:15different. So, when we started the

15:16guarantee was a million views in 1 month

15:18with the condition that you had to post

15:1915 videos, and that's kind of it, which

15:21sounds nuts saying it out loud right

15:24now, but it wasn't made up. It was based

15:26off of our first few clients where I

15:28personally worked on their accounts and

15:29every single one of them hit a million

15:32views in less than 15 videos in less

15:34than a month. The first one actually did

15:35almost 10 million views in his first 15

15:37videos. It's crazy. And the problem with

15:39what we have now isn't that we can't

15:41deliver on that outcome. The problem was

15:43that the program length didn't line up

15:45from when we were selling a small focus

15:47group to mass market now. One month was

15:50just way too compressive of a timeline

15:52for average people. They couldn't keep

15:53up with what was required. And so, if I

15:55wanted to open up my business and serve

15:57a broader range of business owners, not

15:59just the ones that, you know, I

16:00personally selected that were killer

16:01business owners that could sprint, I

16:03needed to extend the timeline to make

16:05this work for everyone. So, we went from

16:061 month to 2. Few months later, we went

16:08to 3. Two months later, we settled on 6

16:10months for those deliverables because

16:11only the most driven people can do

16:13everything required in a single month,

16:15but some people could do it in two. Many

16:17of them could do it in three, but

16:18everyone who is serious can get this

16:21done in 6 months. And the ones that

16:22can't get it done in 6 months probably

16:24can't even make it to the finish line

16:25anyways. And it turns this whole thing

16:27into a marathon. The best ones can still

16:29sprint through it. Like we have clients

16:30hitting a million views in their first

16:31week, sometimes in their first day of

16:33posting. It happens. But, it also

16:35doesn't leave behind people who need a

16:37longer term to do so. And because of

16:39this longer timeline, higher price that

16:40we were charging, we had a thought, what

16:42if we increase the number of views that

16:44we guarantee? So, we tested this. We

16:45went from 1 million views guaranteed to

16:4710 million views guaranteed within that

16:496-month time period. And it was largely

16:50because we just thought we needed to

16:51like do more because we're charging more

16:53and it's a longer time horizon. And we

16:55know we can deliver on it. However, the

16:57exact opposite happened for our

16:58business. So, having 10 million views in

17:01the contract in writing seemed too good

17:03to be true to most of our prospects. And

17:04it made the prospects question the

17:05validity of the entire guarantee and our

17:07entire business because we were able to

17:09put that in writing. Sounded crazy. It

17:11actually decreased the amount of

17:13business that we were doing. Plus, we

17:14verified this with marketing on split

17:16test that the guarantee language for a

17:17more realistic outcome, 1 million views

17:20as opposed to 10, performed better. So,

17:22we reverted back to the million views we

17:23guarantee now despite our average client

17:25outperforming those numbers by miles.

17:26Another lesson that simply offering more

17:28in a guarantee isn't as useful as making

17:30the guarantee aligned with what the

17:32customer expects. So, a lot of back and

17:34forth on testing. This is the current

17:36version of the guarantee that we have

17:38right now. The conditions are very

17:39simple. Make all payments on time, post

17:4130 videos for 6 months across all

17:43platforms using an editor from our team.

17:45That's it. But, let's break this down

17:46line for line cuz there's a bunch of

17:48stuff that we're actually doing here.

17:49So, first, posting 30 videos per month.

17:51This is what our clients are here to do.

17:53Like it's it's what they want anyways.

17:55It's not hard to get them to commit to

17:57having a lot of content posted because

17:59that's what they're hiring us for. Next,

18:01we have the words per month. So,

18:03consistency is important here. Posting

18:05100 videos one month, zero the next,

18:07gets inconsistent results. The platforms

18:09don't like it when you just spam out

18:10content. So, it is aligned with industry

18:12best practices, but it also enforces

18:14consistency with our clients. Next,

18:16edited by a viral coach trained editor.

18:18So, we're a staffing agency and we can

18:20provide an editor that's trained on our

18:21best practices, or they can just take

18:23our in-house editor complimentary and

18:25get the work off their plate. Either

18:26way, this is so that we can control the

18:28quality of content that is being posted.

18:30And also, to make sure that they use our

18:32services, either staffed editor that we

18:33can staff for them or the complimentary

18:35in-house editing that we provide. We

18:36don't want you going off on the rails

18:38and doing whatever that isn't approved

18:39by our team. We QC everything, make sure

18:41the clients aren't posting low-quality

18:43content that would ruin engagement

18:44otherwise for them. Next, we have six

18:46consecutive months. Again, doubling down

18:48on consistency here, especially if

18:50you're trying to accomplish a goal of

18:51getting a million views on social media

18:52starting from scratch. This is where a

18:54long enough time window allows for

18:56success. So, even if someone is using a

18:58camera for the very first time, even if

19:00they're terrible at delivery on their

19:02very first video and they can't speak

19:03straight and they're very nervous, they

19:04still have plenty of time to correct

19:06those bad habits and enough consistency

19:08to build momentum on social media with

19:10those 6 months. Then, we have the words

19:12on all major platforms. It should always

19:14be in the best interest for the client

19:15to have the most amount of

19:16opportunities, so we require them to

19:18post on all platforms. If one client

19:20wants to blow off all the platforms and

19:22only post on Instagram, this prevents

19:24them from being able to get away with

19:25that, and it makes it easier to

19:26accomplish the guarantee because you

19:28have more distribution, which at the end

19:29of the day is what the customer wants

19:31anyways. And then, the last one, we have

19:32a little sub paragraph here that we

19:34acknowledge that purchasing traffic,

19:36followers, engagement through

19:37third-party services or agencies will

19:38nullify the guarantee. This is specific

19:40to our industry, but you'll have

19:41something similar in yours where you

19:42just want to have a catchall of

19:44something really heinous that the client

19:46could do that would nullify all of your

19:47work, in which case, obviously, the

19:49guarantee doesn't apply. Now, when you

19:50break down the math here, the clients

19:51only need 5,500 views per video to hit

19:54the guarantee they're posting across all

19:56platforms. And if I'm being honest, the

19:57highly motivated clients blow past this

20:00guarantee before we're even halfway

20:01through the program. On average, we have

20:02about 15.5 million views 3 months in.

20:05So, you can still deliver way more than

20:08you guarantee, which is just a million

20:09views here, which should actually always

20:11be the goal anyways to over deliver, but

20:13it needs to sound very attractive before

20:16they become clients and also control for

20:17the people that make the most difficult

20:19kind of clients by asking them to do

20:21work that is reasonably required to get

20:23some kind of results. The real sweet

20:24spot here is because we don't ask for

20:26too much, but it still sounds good and

20:28we can deliver way more than we ask for.

20:30But the million view guarantee isn't the

20:31only one that we have. It's honestly not

20:33even the most powerful one that we have

20:34because the second guarantee that we

20:36have solves a completely different

20:38problem. And despite everyone having

20:40experienced this guarantee in other

20:42industries, I almost never see it in the

20:43service space, which I think is a

20:44massive missed opportunity. So, the

20:46second guarantee that we offer is a

20:487-day money-back guarantee. And this is

20:51huge because most sales calls aren't

20:53lost to a client saying, "I don't want

20:55to work with you." They're lost because

20:56the client postpones the decision. The

20:58client says, "Let me think about it." or

21:00"I'm not 100% sure yet." or "I need to

21:03talk to someone first." But those aren't

21:05really objections, they're just

21:06hesitations. And hesitation, left alone,

21:09almost always unfortunately defaults to

21:10a lost sale. So, this 7-day money-back

21:13guarantee, the 7-day trial, turns that

21:15hesitation into a reason to start. The

21:18reason why they should give you a shot.

21:20Here's how it works. Instead of asking

21:21someone to commit to the full program up

21:23front, which most sales calls do for

21:25service agreements, we just ask them to

21:27put a small deposit down and show up to

21:29one call within the first 7 days. That's

21:31it. If they don't love what they see,

21:32they get all of their money back, no

21:33questions asked. Now, this 7-day

21:35money-back guarantee flips the script on

21:38that indecision because when a prospect

21:39is on the fence, their default move is

21:41to do nothing and to not risk change.

21:43But this offer changes that dynamic. It

21:45makes saying no on the sales call now

21:48mean actively choosing to walk away from

21:51something that is completely risk-free.

21:54That is a much harder decision than to

21:56just say, "Sure, let me just think about

21:58it for another week." which is exactly

21:59what they do in the trial period. At the

22:01same time, our team gets to work

22:02immediately building out a fully

22:03customized program for that client. By

22:05the time the 7 days are up, they're not

22:07just thinking about what they might get,

22:09they are already seeing real progress

22:11from the team happening for them. And so

22:13then, at that point, 7 days in, it

22:15actually feels like a bigger disruption

22:18to stop. The momentum is already started

22:19and and most people don't want to lose

22:21momentum. Again, because they default to

22:23indecision, this time it's not deciding

22:25to continue cuz it's already moving,

22:26it's them having to decide to quit,

22:28which is difficult. And that is what

22:30makes the guarantee so powerful. It is a

22:32psychological shift in how the

22:34decision-making process feels for the

22:36prospect. Because now, with this 7-day

22:38trial, getting started becomes the path

22:40of least resistance for the prospects

22:42when structured correctly. Now, one of

22:43the most useful things about this

22:44guarantee is how versatile it is. Nearly

22:46every single common objection we hear on

22:48sales calls can be answered with it.

22:50Someone says, "It's too expensive."

22:51Well, you only need to put down a

22:52deposit to see how it works, not the

22:54full amount, and then you have a full

22:56week to see what the ROI could be for

22:58you. We'll map it out." Because most of

23:00the time, the budget objection isn't

23:01really about money, it's about

23:02uncertainty of a return. And so, this

23:03guarantee removes that uncertainty while

23:05letting them experience the value

23:07firsthand. You also might get the "I

23:08need to talk to my business partner, my

23:09CEO, spouse." No problem. Instead of

23:11trying to re-explain this entire sales

23:13conversation secondhand to someone who

23:15wasn't here, let me just help you bring

23:17that person to the first meeting where

23:18they'll map out the strategy and start

23:20making real progress for you. Let me

23:21help you demonstrate the work to them

23:23instead of just hypothesizing about it.

23:25Or if they say, "I'm not sure it's a

23:26right fit for my situation." Perfect. I

23:29wouldn't expect you to. You haven't

23:30actually seen the program. That's

23:31exactly what the first week is for.

23:33Whatever specific concerns they have

23:35will be directly addressed by the

23:37account manager who actually does the

23:39work for you. You should talk to the

23:40person that's going to be working with

23:41you. And if you don't see what you're

23:42looking for with that person, you get a

23:44full refund. Or if they say, "You know,

23:46maybe the timing's not right right now."

23:48Perfect. The 7-day window doesn't even

23:49start until you say you're ready. So,

23:51you can commit today, put a deposit

23:53down, go on vacation, deal with a busy

23:55season, just need a couple of weeks,

23:56whatever. We will hold your spot. Our

23:58team can start wrapping in the meantime,

24:00and then the clock starts when it makes

24:02sense for you. And this way, even if a

24:04small percentage of people do want back

24:06out and they use the refund, they get

24:09all their money returned to them, we

24:10still win. By dramatically lowering the

24:13barrier to entry to work with us, we

24:14bring in far more new clients than we

24:17potentially otherwise would have, even

24:19after considering the delivery cost and

24:21refunds associated with it. Because the

24:22few that do refund out and leave don't

24:24even come close to offsetting the many

24:27clients that stay and who likely

24:29wouldn't have even been in the program

24:30in the first place if we didn't have a

24:32trial guarantee in place. And so, in our

24:34case, that difference translates to

24:36hundreds of thousands of dollars a month

24:38in additional revenue. Now, the

24:40disclaimer on this trial guarantee

24:41before you run it is that you actually

24:43have to be really good at delivery in

24:45that first week if you expect to keep

24:47the client. There is absolutely a

24:48potential, just as a warning, for this

24:507-day guarantee to backfire in your

24:52company and actually lead to more people

24:54backing out than you previously had,

24:56especially if people get into the

24:57program and experience an inferior thing

25:00than what they were sold on the sales

25:02call. It only works when your sales

25:03process is honest and well-aligned with

25:05the deliverables that you can actually

25:06fulfill on. And so, both of the

25:08guarantees that we have right now work

25:10together. The 7-day guarantee gets

25:12people in the door, the million view

25:13guarantee keeps them committed once

25:15they're inside. It's the combination of

25:17the two that makes our guarantee process

25:19so successful. One removes the fear of

25:21starting, the other removes the fear of

25:23failing. And when you can eliminate both

25:25of those for your prospects, the sale

25:27becomes inevitable. Now, if you thought

25:29this video was helpful, the only thing I

25:30ask, and I almost never ask this, is

25:33just to copy the link of this video,

25:34send it to one other person. Either send

25:37it to the person to help them keep from

25:39getting gotten by bad guarantees or help

25:41them make a lot of money with a

25:42conditional guarantee added into their

25:44business. It would mean the world to me

25:45if you could just help one more person

25:48be successful because of this video.

25:50Thanks for watching.

More from Daniel Iles

Recently added transcripts

Browse the whole transcript library

This transcript was generated from the captions YouTube publishes for this video. Get the transcript of any YouTube video atfreeyoutubetranscribe.com, free, unlimited, no sign-up.