What is The Cost of Buyers Remorse?

We have probably all been there. We get all excited and buy something; it is all new and exciting. 

Then we have a little time to mull over our decision. We think about the money that it has cost and forget about the benefits we will get from the purchase. 

The more time we have, the more we spend on not being sure and convincing ourselves maybe this was not as good as we thought at the start. 

Commonly known as buyer remorse. It doesn't mean a bad decision has been made and can happen even if we know exactly what we are buying, and were happy with the decision at the time of purchase.

It can be quite a common problem for businesses which have a course or product that is paid and then the customer has to wait for the course to begin or the product to be delivered. 

Just look at the number of people who sign up for courses and never actually turn up on the day.  Sometimes they have even paid for the course and still do not come along. So you could think well at least the person running the course has their money. However, it really doesn't look good for the organiser if the room is half empty.

So how can you cut down on the number of people dropping out? 

To help to reduce the number of people who gain buyers remorse, it is a good idea to break up the time between the sign-up and the start date with a gift pack or a call. 

We have clients who send out our gift boxes with a few branded gifts inside such as a pen, a desktop garden some sweets and a book or reading material. To allow attendees to get started and feel like they are making progress. 

It shows they are interested in them and have not taken their money and not given them another thought. They have invested money in you, so you are showing them that they have made the right decision and it will be worth waiting for. 

Also by sending them some reading material you allow them to arrive at the course or workshop having made a head start for the day ahead. 

If you are lucky, they may even add the pictures of the boxes onto social media, which is great publicity for you into the bargain. 

For ideas of what you could give to your clients, have a look at the website or get in touch. 

Here are some suggestions: gift boxes, postcards, gift bags or books. It is just something to fill the void. This is not to trick anyone but to show how much you care and to demonstrate the value they will gain from working from you in the long run.  It is a situation which can be avoided, if handled well which means everyone can stay happy. 

 

rebecca@gifstwogive.co.uk

 

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