Showing posts with label buyer's remorse. Show all posts
Showing posts with label buyer's remorse. Show all posts

Friday, June 15, 2007

Buyer's Remorse...

"Did you notice the inside tailgate light is missing?", my uncle pointed out as I showed him my family's new minivan.

"You mean the light's burned out?" I asked.

"No it's missing. Looks like the factory forgot to put it in," he said pointing to a gapping hole in the inside tailgate.

A few days ago we bought a new minivan. Actually, it's new for us, but it's a "certified used car" from a "haggle-free" dealer (There's another marketing tip...)

So, I emailed my salesman about the problem. No response.

I called. He wasn't in. I left a message for him to call me back. No response.

Here's where I began to experience what marketers call Buyer's Remorse.

Wikipedia describes Buyer's Remorse as "an emotional condition whereby a person feels remorse or regret after a purchase. It is frequently associated with the purchase of higher value items such as property, cars, computers, jewelry, etc. The common condition is brought on by an internal sense of doubt that the correct decision has been made. With high-value items such as a property, this is exacerbated by the fear that one may have acted without full and complete information, for example, the property was not fully surveyed..."

I've studied Buyer's Remorse before. In a clinical setting it's easy to feel empathy for the buyer and to dismiss it as cognitive dissonance.

That is, until you are the person experiencing the remorse. Then there's no dismissing the reality of the overwhelming fear that you may made a bad decision.

My mind began to spin: What else could be wrong. What else had I failed to check? How many jokes was this salesman telling about me being a patsy?

Then I remembered, my contract had a 7-day return policy. I called the sales manager and explained my situation and that the salesman was unresponsive.

"Oh, he's been out for the last few days," the manager replied calmingly. "Actually on that model there's only one light. The other side is just a cover."

"Well my cover is missing!" I replied trying not to let my remorse show.

"I can order one and ship it right to your home," he responded. "Would that be acceptable?"

"Uh, sure," I responded relieved I didn't have to put up a fight.

"Is everything else working well?" he asked.

"Yeah it is," I replied.

"And remember if you have any other problems, you have a free powertrain warranty and roadside assistance for the next year," he said, soothing me.

I hung up the phone and wondered if I was overreacting. Maybe I really had got a good deal and these no-haggle salesmen were good guys.

What can you do to be sure your customers post-sales fears are calmed? What program can you put into place to build confidence and possibly get referral customers?

A few days after my call, an overnight package arrived at my door with the replacement cover. Free.

Of course, I knew I'd made the right decision all along.

- Phil Sasso

Tuesday, April 24, 2007

Buyer's Backache...

I woke up this morning aching. Actually, I've woke up aching every day this week. Which you might say is a sign it's time to get a new mattress. The problem is I just got a new mattress last week.

Beth and I got one of these giant mattresses you almost need a ladder to get on. I think my mattress is as high as my kitchen counters. Really. I can sit on my bed and my legs don't touch the floor. This morning, as I sat with my legs dangling, I started to experience buyer's remorse, You know that niggling feeling you sometimes get after you make a big purchase decision and feel you may have made a bad choice: Was it the right one? Did I pay too much? Did I pay too little? Could I have done without it? Is it the right color?

The AMS marketing dictionary defines buyer's remorse as: "The insecurity that a buyer feels about the appropriateness of the purchase decision after the decision has been made. It also is called 'post purchase dissonance'."

It's a common form of what psychologists call "cognitive dissonance". It's quite natural. You get outside messages that conflict with your decision leaving you feeling you may have made a bad decision. It happens most to people buying big-ticket items like a house or a car. The more you pay, the more likely you are to second-guess yourself. In fact, when I Googled "buyer's remorse" it listed about 71,400 citations -- 62,400 included the word "home".

How does a marketer deal with buyer's remorse? Marketing follow-thru.

First assure the customer he made the right decision. Do it right away. The salesperson saying "good choice" and the literature congratulating you on your purchase does more than you'd think. If your product is in a package the package should keep them sold by answering post-purchase questions, like about your warranty. Show other happy customers in your literature.

Second, follow-up. Be sure everything is working. Fix any problems quickly. Our mattress salesman called the other day. Beth told him I was not making a good adjustment. He assured her most people need a couple of weeks to feel comfortable on a new mattress. And If I'm still uncomfortable in a couple weeks, we can exchange it for a softer one anytime within 30 days.

Third, keep advertising to them. Every time I get a new car, I am amazed at how often I see others in the same make or model. And when I select a new brand, I have a heightened awareness of ads for that brand. It's part of the natural way we deal with change and uncertainty by looking for affirmation.

Finally, welcome your customer to your community. Get them to join online forums, clubs, classes, or wear branded "logowear". Overcome their remorse with a reassuring sense of clubiness or community. This technique has worked wonders for Apple Computer, Harley-Davidson and Borders -- not just to deal with remorse, but to build die-hard, loyal followings. Obviously, not every option fits every product. (I don't think I'd join the Sealy mattress club or wear a Sealy T-shirt!) But think outside the box.

Remember buyer's remorse is an emotion. As long as your product is performing as expected, just a little reassurance can help overcome it.

If, however your product is giving your customer a backache... I'll let you know.

- Phil Sasso