Buyer’s remorse

Have you ever bought a pair of shoes or a shirt (or a CRM solution) that you didn't really love?

Most people have. I have.

Buyer's remorse, buyers regret, whatever you call it, it's a real thing.

When it happens, we don't usually blame the seller. The seller was just selling what they're selling, and we decided to make the purchase.

Usually we don't even blame the manufacturer. This thing we bought is probably good for what it is. There are probably people who would love it.

It’s only later that we realize it wasn't really what we wanted.

So what's the difference between a purchase we love and one that we regret?

Usually it comes down to one simple question:

After you've owned it for a while, can you point to specific, valuable benefits that you're getting from it? Does this shirt make me look great? Do these shoes feel comfortable all day, and do they fit wonderfully with the rest of my wardrobe? Am I actually using this CRM to grow my membership faster than ever?

Here's the thing:

If you want to avoid that feeling of buyer’s remorse, it helps a lot to know, before you decide on the purchase, what those specific, valuable benefits are that you're trying to get.

Name them. Put a value on them. And then think about whether you have reason to believe that this purchase is going to help you achieve them.

And in a business setting, if you can't put a value on the specific benefits you're trying to achieve, should you be making any purchase at all?

All the best,
A.