Kenyetta Knorr
Kenyetta Knorr, at Nova Remodel Group

Succession planning

Is "No Buyer's Remorse" scalable ?

User
Loading

1 Answer

Jef Lippiatt

Jef Lippiatt , Owner at Startup Chucktown

Kenyetta,

I'm not exactly sure what you mean, however, I don't believe that "no buyer's remorse" even exists. But many companies please their customers, so why would I say this?

  • Even if the customer is pleased at the time of purchase, they may not be as happy later on (and still might return whatever they bought).
  • The customer may have been pleased during the purchase, but may have not been as happy later even if they keep the item.
  • Many people impulse buy but never actually open and/or use the item they purchased
  • Even if they are totally happy with the purchase they may have wished the item didn't cost as much as did (especially big ticket items)
  • The customer may wish they would have spent the money on something else (other product, experience or just saved it) even though they are are happy with the product.
  • The product may break right after the warranty, this could make the customer wish they never bought the product and they may avoid said company in the future
  • The customer may have been happy at the time of the sale, but when needing help is less than thrilled by the existing or lack of customer service.
  • If the item doesn't last as long as expected, this may negatively impact how the customer views the company (poor quality, poor exchange of value, etc.)
  • If the company does something to damage their own reputation, customers may have buyer's remorse for being associated (even in a small way) that that company.
  • The company may go out of business shortly after the customer's purchase, making the customer wish they would have avoided making the purchase entirely.
  • I'm sure there are more reasons that could be added to this list, however, I feel like the 10 reasons above cover the majority of cases.

    You and your business can do things to minimize the above cases, but you can't completely eliminate the issue because the outcomes are based on a complex blend of customer expectations, personal baggage (issues) and human nature (psychology).

    You set yourself else up for success by presenting customers with detailed, accurate and transparent information about your product and services prior to the purchase. You also help yourself by guiding the customer to the product and services best suited for their needs. Also by reinforcing the value they are getting for the price helps eliminate the feeling that they aren't getting a good (or the best deal). You can also do yourself a favor by having a clear return/exchange/refund policy, a detailed knowledge base or FAQ section and helpful and timely customer service.

    The rest is really out of your control, but that's okay. Only focus on the aspects you can positively change.

    Greg Miles

    Greg Miles ,

    That is a very detailed and on point answer Jef, thank you for sharing!
    That is a very detailed and on point answer Jef, thank you for sharing!
    Jef Lippiatt

    Jef Lippiatt , Owner at Startup Chucktown

    I'm glad you found it useful.
    I'm glad you found it useful.
    User