Buyers’ remorse is likely to happen to just about every one of our clients. The trick is to make sure that when it does happen you are on hand or front of mind to help, this episode of Monday Sales Coach will discuss a way to ensure you minimise losing sales as a consequence of buyers’ remorse.
We also have a quick chat about self improvement.
Download Podcast Episode Transcript

How to overcome buyers remorse
Problem:
Marisa is a successful life insurance agent, but this causes her to suffer from insomnia every time she makes a sale. When we asked why, she replied that about 40% of the time, when she closes a deal, the new “client” will call her the next day (but usually not during working hours) and leave a voice mail backing out of the deal. Typically, they say that they have had second thoughts and decided, after all, that they really didn’t need the policy.
Analysis:
Marisa’s prospects were experiencing a predictable psychological after effect in the selling process known as “buyer’s remorse.” Marisa had been trained in her industry to build rapport at the beginning of the call and she was very good at it. She was also trained that when she got the order, she was supposed to complete the paperwork, get the check and get out.
The theory was that if you stayed, the buyer might have second thoughts and you would lose the sale. Typically, the prospect felt that her quick exit sent the message that “I’d better get out of here before they change their minds.” Combined with some unresolved concerns, prospects became uncomfortable enough to back out the next day. Unfortunately, Marisa was able to resurrect very few of these back-outs.
Solution:
Regardless of the product or service that you’re selling, give the buyer a parachute. Give them a chance to back out. Buyer’s remorse can be a real issue and is very predictable even if you haven’t resorted to manipulation to get the sale. Giving the buyer a chance to back out, although considered selling heresy by most traditionalists, will give you an opportunity to save the sale when and if there is buyer’s remorse. Try saying something like this: “I really appreciate your business and look forward to working with you. Before I leave, however, I just want to make sure you’re comfortable with what we’ve discussed. If there’s anything that you’re not sure about, this would be a good time to discuss it.” Usually about 90% of the time the buyer will reinforce their decision to do business with you. If they do bring up an issue, you will be there to deal with it.
The Power of Feedback
When it comes to self improvement it would help if we knew our blind spots. What are your “blind-spots?”  Do you have any?  How do you know?
In personal development, a blind spot is, when people see things in you, that you don’t see in you.
The only way to avoid blind spots is to embrace feedback.
Being defensive dismisses feedback and is the fastest path to failure. You have to be open to feedback.
What are your blind spots? Go find out, ask someone to tell you.
Download Podcast Episode Transcript