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How to deal with
buyer’s remorse

In our coaching with small-business owners around the world, I see it over and over again. Inexplicable refund requests are one of the most frustrating things for well-meaning companies. But do you know what single factor is responsible for almost every refund request and nearly every piece of returned merchandise?

Buyer's remorse!

The minute the cash has transferred hands; fear enters the heart of your client. Warning sirens sound and their subconscious starts prodding them, "Did I really make the right decision?"

This happens because most clients have been burned before, so it's only natural for them to have thoughts of skepticism and concern. Plus, it's human nature to look for something negative in a situation. The bottom line is that most people are almost expecting something to go wrong.

What can you do to minimize or even eliminate buyer's remorse?

One of the best ways small-business owners can put their clients' concerns to rest is to offer an ironclad guarantee -- not just a guarantee to induce prospects to buy your product or service -- but using that guarantee to reassure your client immediately after the sale.

For many business owners this seems a little daunting, but fear and confusion quickly melt away when they see how easy this powerful reassurance tool is put into use.

I often have to stop these achievement-driven men and women from kicking themselves around their office for not developing a structured guarantee system sooner.

This simple gesture curtails potential fears in the minds of your clients. They are able to tell themselves, "Hey, if something does go wrong, I don't need to get worried because all I need to do is come back, and they'll replace it for free."

The other thought that goes through their minds, and often seals the deal more easily than you might imagine is, "Well, if they're going to offer a lifetime guarantee, then this must be an excellent product. They're willing to stand behind their product/service 100 percent, and the risk is squarely on their shoulders."

After a little internal conversation, the next thing the client hears their brain say is, "This is a no-brainer decision. I'm buying!"

Business coaching corner:

If the majority of your competitors are offering some vague, namby-pamby guarantee and you come along with a rock-solid detailed guarantee that inspires confidence -- how big will your competitive advantage be?

If you don't have a guarantee system yet, what are you willing to do to put one in place in the next 30 days?

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