Customer Retention Strategies Soothe Buyer’s Remorse
In order to retain a customer, you’ve got to get through one “hardly worth mentioning” hurdle known as buyer’s remorse. Actually, the potential for this negative response is well worth mentioning and can be a big deal if a customer’s regret over their purchase with your company leaves a lingering feeling of ill will.
Buyer’s remorse happens to all of us, and research says it doesn’t even matter how much we spend. We can doubt the wisdom of our purchase, whether we’ve shelled out ten bucks or ten thousand.
As marketers know, emotion outweighs logic in sales and marketing, yet logic gives people a way to support their emotional decision. Said another way, people tend to make purchases based on an emotional response – they like the shiny bells and whistles. Yet, they use the logic you present in the benefits they’ll receive to validate their emotion – such as, “I’ll save so much money on energy and repair costs, it’s like the system pays for itself.”
They persuade themselves to make the big decision. Installation commences. Then human nature comes right on back through the door and brings a second wave of doubt. So, your first Customer Retention actions should validate and reassure your customers that they made a good purchase decision.
For example, the follow-up call to make sure everything is working satisfactorily tells customers, “These people care.” Also, compliment them for the smart decision they made, such as, “Your home is going to be a lot more comfortable now.” The handwritten follow-up note tells them you’re grateful for their business, but also leaves an underlying message: “This was more to them than getting my money. They want to make sure I’m happy.” Purchase affirmations like these give your Customer Retention strategies the right start.