Ever splurged on a fancy dinner that didn’t quite live up to the hype? Or signed up to a gym membership that’s gathering dust as we speak? We’ve all experienced the bitter aftertaste of buyer’s remorse, and it’s probably one we’re keen on sparing our own customers (especially in a world where dissatisfied customers often take to social media to rant about their disappointment…).
In this episode, Nicki and Kate are digging into the reasons why buyer’s remorse happens, as well as sharing their checklist of actionable steps that not only prevent it, but also lay the foundations for a long-lasting customer relationship.
Looking for closed captioning or a transcript? Watch the episode on YouTube!
A Sneak Peek at the Episode
[2:30] In this episode, Nicki and Kate are exploring the impact of buyer’s remorse on business reputation and discussing strategies to prevent it.
[5:09] Buyer’s remorse can stem from factors like price, value, and outcome—understanding these reasons is key to addressing it.
[10:40] Making a purchase is a significant decision with an inherent risk. Experiencing buyer’s remorse is a negative emotional experience, and can make you feel bad about yourself.
[13:31] Transparency about program details and managing expectations is crucial; customers often need to see this information repeated across various materials to help it sink in.
[17:39] Purchasing an online program doesn’t feel very tangible. For Nicki’s copywriting program, she created video previews and walkthroughs of the dashboard to help customers visualize the product.
[18:45] Post-purchase engagement, like welcome emails and messages on the dashboard, enhances customer satisfaction and helps them understand how to make the best use of the program.
[20:34] Learning from customer feedback, even if it’s negative, will help to inform improvements; Nicki’s welcome series was born from this approach!
[21:59] Everything you do post-purchase is an opportunity to remind customers of the value of their purchase. It’s important to make people feel that they still have that connection to you and are not just being left to their own devices.
[23:33] There may be some FAQs that you answered in the selling process that you also need to remind people of after they purchase. Equally, if you’re getting a lot of similar questions from students once they have purchased, it may be helpful for people to know this information before they purchase as well.
[26:26] Consider offering personal support through calls to answer queries. This doesn’t have to be forever and the questions they have can be used to better inform your sales process.
[29:31] It’s important to do a regular audit of your customer service to make sure that it is at the level that you expect it to be as this can make or break an interaction.
[32:17] If you are running ads, remember that other people are seeing how you reply to people in that thread—not just the person who commented. These are often great opportunities to foster positive interactions.
[35:18] As you look to expand to other channels, keep in mind that your process should involve responding to the comments, in addition to the content creation.
[36:15] Remember to share testimonials with students as well as potential customers. Even people who have purchased still need to see other people’s wins to inspire them to keep taking action, believing in themselves, and believing in the process.
[39:17] Incorporating post-purchase surprises, like free events and giveaways, demonstrates ongoing care for customers.
- Why Value-Based Pricing is One Strategy You Can’t Skip
- When to Hire for Your Team & Who You Need to Hire First
As with every episode, we highly encourage you to listen to the entire conversation! But, here are a few of the highlights:
“People want to feel good about their decision in the sense that they want to feel like they are a smart individual, they made the right decision, they did a bunch of research and they made this purchase. To admit that the purchase was wrong feels really bad for us. Our brains do not like that. We want to feel we did the right thing and we did everything that we could to set ourselves up for success. And when we don’t do that, that’s where it causes that anxiety and frustration and feeling bad.” – Kate
“I think everything post-purchase is really the opportunity to remind them of the value of their purchase. To combat the monetary aspect, but even just the steps that they need to take to get the results that they want, reminding them that there are steps they need to take, but that we’re here for them, that they’re supported, they’re not just left alone to deal with the purchase and figure it out. And so making people feel that they still have that tethering connection to you and that you’re not just kind of severing that connection once that they’ve purchased.” – Kate
“The timeliness of that response does make or break whether someone wants to move forward with you or not. If you’re not getting a response back within, I would say 24 hours, you feel like, ‘Okay, this business doesn’t care about me. Do they even have a system for this? Are they this disorganized that they can’t respond to me?’ It’s a very negative experience. And why would someone want to move forward with that? If they’re not getting that support before they purchase, they certainly aren’t going to expect any level of support after they purchase.” – Kate