Buyer’s remorse, we’ve all been there. Seconds after clicking the “buy” button we begin wondering if we made the right choice. In his book “The Paradox of Choice-Why More is Less,” Barry Schwartz argues that giving consumers too many choices leads to increased anxiety because making a choice of one among many other options means giving up the opportunities available in the other choices. As ecommerce retailers continue to offer customers more variety, they may also want to help their customers feel better about their purchase and reduce buyer’s remorse.
What is Buyer’s Remorse?
Buyer’s remorse is a feeling of regret or dissatisfaction when purchasing a product or service. While most of us think of it happening after the customer receives their order, the anxiety can hit us as soon as we have made the purchase. The reasons for this can vary from wondering if the product is the one we need to doubting whether we paid too much. As an ecommerce business, it’s important to take steps to reduce the likelihood of your customers experiencing buyer’s remorse. Not only is it bad for customer satisfaction and retention, but it can also lead to costly returns and exchanges. A customer that feels dissatisfied with their purchase is more likely to blame the store rather than their own actions. Fortunately, there are a few strategies for reducing buyer’s remorse for your ecommerce customers.
How Do I Reduce Buyer’s Remorse?
Provide Detailed Product Information
One of the main causes of buyer’s remorse is receiving a product that doesn’t meet the customer’s expectations. To prevent this, make sure your product pages contain detailed product information, including dimensions, materials, features, and any relevant warnings or precautions. Include high-quality images and videos that give customers a good sense of what they can expect when they receive the product.
Offer a Satisfaction Guarantee
Offering a satisfaction guarantee can give customers peace of mind and reduce the likelihood of buyer’s remorse. It also will keep customers on your page instead of doing comparison shopping on other sites. A satisfaction guarantee can be a money-back or a return policy that allows customers to exchange the product for something else. Make sure the terms of your satisfaction guarantee are clearly stated on your website and easy for customers to find. Feel free to make it a big bold statement on your product page so the customers don’t miss it
Encourage customer reviews
One of the best ways for customers to feel positive about their choice is to know that others have also made that choice and feel good about it. Positive customer reviews can be a powerful tool for communicating this. They provide potential customers with unbiased, real-world feedback on the product or service and can help them make a more informed decision. Encourage your customers to leave reviews by sending follow-up emails after their purchase or displaying reviews prominently on your product pages.
Provide Excellent Customer Service
Providing excellent customer service can go a long way in reducing buyer’s remorse. Make sure your customer service team is friendly, knowledgeable, and responsive. If a customer has a problem or question, make sure it’s addressed promptly and professionally. This will help ensure that customers feel valued and that their concerns are taken seriously.
Use Upselling and Cross-selling Strategies
By providing customers with relevant and complementary products or services, you can increase the chances of them being satisfied with their purchase and reduce the likelihood of them experiencing buyer’s remorse. This can be achieved by suggesting similar or complementary products when they add something to their shopping cart, or by offering a bundle deal at a discounted price. You can even offer upselling and cross-selling suggestions after they’ve made their purchase.
Make the Post-purchase Experience a Positive One
One of the biggest causes of buyer’s remorse is waiting too long for a product to arrive or being unsure about when it will be delivered. Make sure your delivery times are clearly stated on your website and that you’re able to meet those times. Include a branded tracking page that includes not only the delivery date, but the status of the order, and a map showing how close the delivery is. By ensuring that your customers feel less anxious about the order they just placed, you can reduce the likelihood of them experiencing buyer’s remorse.
Conclusion
There are many strategies to increase the value of your product, but few can compare with increasing the customers emotional value of their purchase. A customer that is satisfied with both the quality of your product and the quality of your services, including the period between placing the order and receiving it, is a happy customer that is more likely to return to buy again.
WISMOlabs post-purchase platform can help you reduce buyer’s remorse by providing a smooth post-purchase experience for your customers, including targeted upselling and cross-selling opportunities, branded tracking pages, and data analytics that help you better monitor your customers’ activities after the purchase. For more information contact us today.
