The "Risk-Reversal" Tactic for Closing the Prospect: A Case Study Using Risk-Reversal, Reciprocity, and "Help".

Michael Rinaldi, President, Avail Consulting, Inc.

When I first studied business development, marketing, and sales strategies I came across work done by Jay Abraham.  If you've studied marketing, you've probably heard of him. 

Quite some years ago, Jay published an audio program called "Your Secret Wealth" through Nightengale-Conant.   On the program, he talked about a strategy that he had used with previous clients called risk-reversal.  With this strategy, you essentially create a sense of security in a prospect by virtually eliminating the risk they perceive in going forward with a sale proposal.  Very simply, it reduces a prospect's reactance by providing some psychological assurance that they can't lose because they have an "out".  

For example, a 100%, 'no-questions'asked', money-back guarantee is a common tactic employed to get people to move to buy.  

Various applications can be used, but they essentially provide the prospect with "insurance" so-to-speak, that if they aren't satisfied, they don't owe anything. 

(And they can keep the recipe book free just for trying!)

Get it?  

Okay. Good.

Recently, we had a client referred to our office who after her initial consultation claimed she couldn't afford to move ahead with our services due to finances.    The reactance was high....

Her husband had lost his job a handful of years back, then had medical problems which led to an amputated leg.  Then they lost their insurance, then she had a stroke and had to be hospitalized, and no one to take care of him and the hospital bills their still paying on and ... and... and... and....

Ever had that?

I could hear my staff grumbling about having to let this person go.     They were falling for this story and weren't thinking of solutions.

I simply told my office manager to schedule the lady for a series of future appointments and I would handle the rest. 

When the lady was finished with her consult, I introduced myself as the Owner of the practice and that I understood that she had some issues and that I had a solution.

We went to a private room and I let her run through her story.   (This allowed her to discharge the emotion a bit--very important).  When that was over I explained that I understood her dilemma and that no one should have to worry about adding the burden of more bills their situation and that I didn't want her to have to worry about the money, especially during the holiday season.  (Rapport induced).

I then told her that she shouldn't have her problem on her attention either, that neglect would not make it go away...but instead it would probably worsen with time, as experience and common sense would suggest.   (Reality-factor)

So, I proposed a solution.    Read on....

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