Sharing the customers risk is a bold way to project faith in the quality of your product, confidence in its ability to delight, and show off your customer service model. In my post “Is Hyundai the Only Car Company Listening to the Consumer? [1]” I reviewed Hyundai’s new Assurance program as an example of one type of marketing program designed to increase the customer’s comfort with buying a car by reducing the perceived risks associated with job loss. This week Ford and General Motors both announced similar initiatives in which the car makers will make payments if buyers lose their jobs.
Guarantees are another tool that can be used to increase the consumer’s comfort when shopping for a product or service. To the extent that guarantees can be extended for additional time (e.g., an extended warranty) or are unequivocal (money-back) guarantees, they either increase the perceived value of the total product or reduce the customer’s concerns about the utility of the service. Recently, SuperMedia [2], the official publisher of Verizon print directories, announced a national consumer guarantee initiative designed to stimulate local economies by lowering the risk associated with hiring contractors, plumbers, auto body repair shops and thousands of other eligible service provider businesses. Yes, there are Terms and Conditions; however, in general the SUPERGUARANTEE PROGRAM [3]is designed to help consumers reduce their risk when they select a SuperGuarantee Service Provider. It’s an innovative program and another example of an organization that is listening closely to the consumer during this time of economic uncertainty.
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