Lead Your Customers Through Buyer’s Remorse [Video]

When there’s a considerable price tag associated with your product or service, it doesn’t matter how exceptional your offering may be, some customers are going to question whether or not they made the right decision. This uncertainty, otherwise known as buyer’s remorse, can have a substantial impact on whether or not your customers will continue to engage with your company and turn into lifelong advocates. Buyer’s remorse affects B2B and B2C companies alike – if the individuals purchasing your product believe the cost of their purchase to be considerable (even when you know it’s well worth the value), there will be some who begin to doubt the moment the money leaves their account.

Buyer’s remorse is a natural response to a significant decision – people want to know that the money and time they’ve invested into your product is going to fulfill the expectations that led to their purchase. While emotional attraction may have led them to make a decision in the first place, rational reality kicks in the moment that thing stops becoming shiny and new.

So what should you be doing to affirm your customer’s decision and to minimize the effect of buyer’s remorse? This is what I’d like to address is greater detail.

Transcript

Tiffany Sauder:

As marketers, we do a ton of thinking about what I’ll call top of the funnel activities. Awareness. Consideration. Really moving buyers through the place where they make a transaction and they’re a customer of our brand.

But I think often we overlook this really critical part of the buying process called buyer’s remorse that is really amplified the bigger ticket the item is. We work with a lot of companies that I’ll call luxury toy manufacturers. A lot of times these toys are hundreds of thousands of dollars all the way up to a million dollars. When somebody puts that much money out for something, they are, after the purchase, starting to wonder, “Was that a good idea”?

I think it’s our job as marketers to step into that space with them and to make sure that we are reiterating to them over and over, “This was a fantastic idea.”

Don’t think about all the things that can break.

Don’t think about the cost of this payment every single month.

Think about the memories you’re going to make with your family.

Think about the community that you’re now part of.

Look at all of the other people who made this decision, 1 year, 3 years, 5 years before you, and look at where they’re at now, look at the experiences that they have, look at they way they’re living their lives.

Reintroduce that aspirational part of your brand to them because that’s when your buyer needs it the most. They need to be reminded why they made this purchase. All this rational stuff starts flooding their minds and starts setting in right after they’ve made the purchase. It’s our job as marketers to really step into that space with them and make sure that we’re reminding them of the intangible pieces.

So that can take form in a lot of different ways. It can be email marketing, where post-purchase, let’s show you other families, let’s show you other case studies, let’s show you other instances. It can also take the form of videos that we show them. It could take the form of a trip that you invite them on or a one-on-one with an executive at a trade show.

I think it’s important the brand really intercept that buyer at that point in time so that we keep that emotional high in place after the purchase.