By James Atkinson, LLB
Consumer Psychology - Purchaser Reactions: After a buying decision is made a process to justify that decision occurs. A buyer may also get buyer's remorse and try to return the product - so dealing with this type of online consumer psychology is important.
When a prospect becomes a purchaser / customer, that person has obviously invested time and effort in the sales process and of course some money in the actual sale. This progression of retrospective rationalization is a natural process. If we do not firmly justify a decision - we’ll keep changing our minds.
Buying is no different. It is an emotional decision.
Use this customer insight to help buyers confirm their consumer purchasing decisions. The online marketer must work hard to help the prospect justify a particular purchase. You can do this in the "Thank You " letter or in a email campaign. The more expensive the product the more you need to do to help customers justify the buying decision.
If your product returns are high you could undertake a Consumer Behavior Report via to your CRM or Business Module software. Consumer Behavior Projects are an important part of dealing with buyers' remorse. Such projects help you understand your customers' buying decision behavior.
I show above, that every purchase in every market is emotionally motivated. After a purchase, buyers feel positive emotions towards the purchase. It follows then, that a purchaser can also reverse those positive feelings, regret the buy decision, and feel “buyer’s remorse”.
This often results in the buyer wanting to return the product.
As an online business owner you will find that buyer’s remorse is triggered quite easily and that you’ll need to work hard to reduce returns.
Why does it happen?
Well it seems to me that it often happens when a product is expensive. The feelings of enjoyment of using or of obtaining a benefit from the product are weighed against the loss of buying power the purchase entails.
Also the response seems to happen when buyers consider they made a ‘mistake’ and therefore the decision revolves around the feeling that the wrong product was purchased. For example, there is a newer or different model.
With the above background in persuasion psychology and consumer psychology and the reasons I provide as to "Why Buyers Buy" should arm you sufficiently to reduce buyers' remorse.
The above series on consumer psychology may seem difficult. If you read the series a few times the concepts should become clearer and also enhance your marketing efforts.
For more on this topic, please now go to > market segmentation.
Consumer Psychology > Why Buyers Buy > The Buyer's Mind > Buyer Emotions > Emotional Benefits > Emotional Benefits And Buying > Prospect Attitudes and Buying > Groups Influence Buying > Buyer Perceptions and Self Concept > Goal Of All Marketing > Purchaser Reactions.
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