Buyer Remorse
- 2. Buyer’s Remorse Definition Buyer's remorse - is an emotional condition whereby a person feels regret after a purchase. It is also known as “post purchase dissonance.” * Buyer Remorse is frequently associated with the purchase of higher cost items.
- 3. Buyer Remorse Origins Post purchase dissatisfaction can be caused for any number of reasons. - Product usage issues * Unrealistic consumer expectations * Unrealistic performance claims - Manufacturer defects - Poor support services - Inadequate post purchase follow-up w/client
- 4. Controlling Causes Many of these reasons are outside of the seller’s control. However, salespeople can be the cause of buyer's remorse. This occurs when sellers: Make unrealistic claims Neglect customer follow-up Fail to set proper client expectations Oversell a product’s performance characteristics
- 5. Preventing Buyer’s Remorse Make sure the buyer understands how to use the product properly. Be sure that claims made about the product are realistic (do not over promise). Reinforce buyer’s decision by reminding them how well the product performs. Follow up after the sale to determine if problems exist.
- 6. Buyer Remorse Wisdoms “ An ounce of prevention is worth a pound of cure.” “ Under promise and over deliver.”