When consumers change their minds, it is usually NOT about the money. Instead, the desire for a refund is a symptom of something else – power, money, or time.
The key is to identify their pain point as quickly as possible, not to shut down, delay, or sludge-ify THIS return, but to understand whether a wider iceberg is approaching your business.
To clarify whether the initial brand heat and good ROAS your product received were luck, a symptom of a positive Wired or Marie Claire review, or a message from the Gods that you’re positioned for success?
Separating signal from noise is critical.
Here are three consumer research hypotheses to test what problem you’re facing. Let’s assume you’re selling a high-ticket, B2B item:
Hunch 1)
Your buyer thought they had the buying committee’s backing, but when your product arrives, the HIPPO in the room suddenly decides to play buckaroo.
To what extent, if any, have you understood the power dynamic within your consumer?
Hunch 2)
The consumer’s share price tanks on the day your project starts, and all departments are asked to make 25% savings. Your buyer, naturally, is reticent about firing their colleagues.
What might you do to position your product around the quicker-turn benefits you offer?
Hunch 3)
Your consumer’s teams start to see how much extra time commitment your project will entail and go into open revolt. No one talked with them in advance or offered to let them deprioritise other initiatives.
How might you rapidly understand what these teams’ priorities are and show them how your project could help them achieve their goals?
None of these scenarios needs to be project killers. However, left unattended, they can become serious, fast. You need to act decisively and emotionally intelligently.
