Offer an Iron-Clad Guarantee
In the last post, I introduced Lance Latham’s extraordinary strategy for building his LinkedIn network from zero to over 23,000 direct connects in 18 months. While interviewing him for the post, and reviewing his company’s website Metrilogics.com, I was enormously impressed with another business-building strategy he and his team have successfully employed.
Metrilogics offers a rock-solid guarantee that sets them apart from other consulting firms – giving them an important competitive advantage, and an edge that helps them close more new business.
The Metrilogics Savings Guarantee
According to their website, here’s their powerful guarantee – verbatim:
“Following the Opportunity Assessment, we will present our summary findings to the client’s senior management team, including the identified annualized savings opportunity, and recommendations to achieve those savings.
If the client’s management team makes the commitment to achieving these savings by following Metrilogics’ recommendations, then Metrilogics will embark on a Savings Project with the client organization for a defined time period to make the annualized savings a reality. Metrilogics will always guarantee client annualized savings of at least 3x the client’s project investment (= a guaranteed client ROI of at least 200%).
If – by the end of the project – client annualized savings exceed the original guaranteed dollar amount, Metrilogics won’t bill extra for the additional savings achieved.
In the unlikely event that the guaranteed annualized savings have not been achieved by the agreed-upon project end date, Metrilogics will either:
- Continue working without additional compensation until the annualized savings target is reached, OR
- Refund a portion of our compensation, proportionate to the guaranteed annualized savings shortfall.”
Management’s Insights about This Guarantee
Lance reports that their significant expertise (25+ years) and keen ability to identify savings within their clients’ operations gives them piece of mind about the potential risk they take on this guarantee. In fact, Metrilogics usually finds a greater percentage of savings than they project – the perfect example of another outstanding business fundamental; “Always Under-Promise and Over-Deliver”.
Metrilogics’ sweet spot is a mid-size company with 20-25 employees, conducting an 8 week engagement, finding $100,000 in bottom-line savings (though they regularly work with multi-billion dollar organizations). In a recent project, Lance is deservedly proud to report that in a 9 week engagement, they projected (and GURANTEED) $125,000 in savings. The result? $168,000 in savings – $43,000 and 34% higher than projected!
Lance and his team has never had to pay out on a guarantee. Rather, they have ALWAYS over-delivered. Bravo!
According to Metrilogics’ website and LinkedIn profile; “Metrilogics helps management teams achieve dramatic operational savings quickly. Through the Metrilogics process improvement approach, companies have achieved significant bottom-line cost savings, ranging from hundreds of thousands to millions of dollars per year — the larger the organization, the greater the savings!” You may contact Lance by phone: 317-441-6844 or email: Lance @ Metrilogics.com (no spaces).
What guarantee can your company offer? Tell us about it or offer a link.
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ABOUT Lisa M. Chapman:
Ms. Chapman’s new book, How to Make Money Online With Social Media: A Step-by-Step Guide for Entrepreneurs will be available very soon. With offices in Nashville Tennessee, but working virtually with international clients, Lisa M. Chapman serves her clients as a business and marketing coach, business planning consultant and social media consultant. As a Founder of iBrand Masters, a social media consulting firm, Lisa Chapman helps clients to establish and enhance their online brand, attract their target market, engage them in meaningful social media conversations, and convert online traffic into revenues. Email: Lisa @ LisaChapman.com