Buyers remorse | Lock in more than a verbal contract

Get more than a 'Verbal' go ahead! And beware of Buyers Remorse!

Posted on
4th Oct 2022
Shaking hands over a verbal contract

It’s great when a client says 'yes'. It’s devastating when a week later you go to do the 'paperwork' and they have changed their minds! A verbal 'yes' combined with a signed contract and a healthy deposit all occurring within the same appointment is much more likely to stick than a mere 'yes'. Ensure that you are getting as much commitment as you can, all at one time. Allowing the lead to stagger their commitment (such as allowing them to come in and pay the deposit tomorrow) can weaken the likelihood of the sale going ahead. If a lead is fine with giving a verbal 'yes' but hesitates about the paperwork or the deposit, more work is often needed to get them fully across the line! Don't count your sales until you have the client fully secured.

So let's just consider why people change their mind once they have said 'yes'.  It is often called 'Buyer's Remorse'.  Buyer's Remorse is the sense of regret after having made a purchase.  It can lead to your customer wanting to 'undo' the sale.  The longer a customer is left without the completion of the purchase (or even when everything has been completed except for the product being used), the bigger the potential for Buyer's Remorse to set in.  Buyer's Remorse tends to stem from one of three emotions:

  • Fear of having made the wrong choice

  • Guilt of extravagance

  • Suspicion that they have been 'stitched up' by the salesperson

To solve Buyer's Remorse, get face to face with the customer as soon as possible and:

  • Reaffirm that they have made the right choice, and demonstrate why this is the case (allay the fear)

  • Show them the value of money, whether tangible or intangible (dismiss guilt)

  • Demonstrate through testimonials that others are happy with their purchase (replace suspicion with faith)

Make your customers 'sticky' by gaining a confirmed order, and then ensure they are using the product and are happy so that Buyer's Remorse doesn't set in!