Have you Ever Experienced Buyer’s Remorse? Four Questions to Ask Before Making a Major Purchase
by Michele Hess, RVT
As human beings, we naturally take the path of least resistance (I like to call that being efficient!). We are also naturally resistant to taking risks, and spending money can be risky. Have you ever felt deflated or anxious after buying that new car or house? Maybe even after going out for a fancy dinner? Or in our case in the veterinary industry, purchasing that new x-ray machine, lab equipment or lift gurney? If the answer is yes, you are not alone, and it is totally normal.
Buyer’s remorse can happen for a few reasons
1. You worry that your research may have been inadequate. “If this product or service isn’t the right fit, the responsibility falls on my shoulders.”
2. You feel like you may have made the wrong decision. “What if there is a better product on the market I don’t know about? Or if the product I chose isn’t as good as the competitive one I looked at?” FOMO (fear of missing out) is real, y’all!
3. You are concerned that your practice may not reap the benefits of the purchase. “What if we don’t actually NEED this product or service?“
These are all normal and natural feelings that come with the territory of making a big decision for your practice.
There is a bright side to buyer’s remorse
The one good thing about buyer’s remorse is that it typically goes away (hallelujah!). Research has shown that buyer’s remorse usually occurs after the exchange of money, not necessarily directly after making the decision. Once you have completed the task of purchasing that x-ray machine, lab equipment or gurney, you feel excited. The box has been checked! Once that excitement—and our good friend dopamine—wears off, here comes the deflation: buyer’s remorse.
Questions to ask potential vendors to help make the best purchasing decision
If you are able to see that this product or service can enhance your life and add value to your business, you will feel at peace with your decision. If the product or service is truly a bad match for your practice, be sure to visit the return/cancellation policy. I want to leave you with a few questions to ask yourself and the company you are potentially looking to work with:
1. Is there a way to NOT sign a contract? A lot of companies can provide alternative options if contracts are not your thing, but may not offer those up unless you ask. The deal may not be as good, but contracts can be challenging (and expensive) to get out of.
2. What is the return policy? A company may be willing to let you try their product out before you buy it. If this is not an option, I would ask if there is an allotted period of time you have to return or unsubscribe to it. If the company is confident in what they are selling, there will be a return policy in place.
3. Can the company provide references? If clients are truly happy with the quality of a company’s product and service, they should easily be able to present you with references. Ideally, these references should be willing to speak directly with you, either by phone or email. Make sure you check out online reviews as well.
4. Is the product or service going to pay for itself? Forecast additional revenue it will generate or expenses it will help save. Not all investments will add to your top line, but they may increase efficiency or directly decrease an expense.
Final word on buyer’s remorse
The truth is that just about everyone experiences buyer’s remorse. In the end though, how you feel about the product or service comes down to two things. Can you see it helping your practice? Does the idea of that excite you? So long as you do your research, ask the right questions, and know what you want, go ahead and enjoy that purchase without the guilt.
Michele Hess RVT is an Inside Sales Representative at Vet2Pet and loves helping practices achieve optimal communication with their clients through today’s technology. She can be reached at firstname.lastname@example.org.