The Benefits of the 'Try Before You Buy' Model
January 10, 2023
This podcast conversation discusses the "try before you buy" model and how it fits into the customer journey.
Imagine being able to order all the products you want from a shop, without spending any more, receiving those products, trying them or checking them out, and just sending back anything thats not what you had hoped for?
And only then do you get charged.
Of course you’re convert better.
Of course you’re going to spend more money per order.
Almost all of the risk in the purchase is removed, because you only pay for the items that you keep, and youre only going to keep the items you’ve experienced and decided are fit for purpose.
Seems like a no brainer to me as a business, don’t you?
Today i am joined by Ben Davis, Founder and CEO of Trynow, if you haven’t heard of them, they’re a platform that allows businesses to offer a Try Before You Buy model to their customers.
Super important given the growth of ecommerce and people purchasing at distance, they obviously dont have the opportunity to experience the product in hand as you would in-store.
TryNow changes that.
This podcast conversation discusses the "try before you buy" model and how it fits into the customer journey.
Ben Davis, founder and CEO of Try Now, a platform that allows businesses to offer a try before you buy model to their customers, explains how this model eliminates the need for sampling or paying upfront. It is suggested that marketing messaging should be used in ads, email ads, and retargeting to drive customers to click this option.
The conversation then shifts to finding other ways to uncover extra revenue without assessing a penalty to the shopper such as renegotiating rates with 3PLs and carriers, changing packaging, or increasing prices by a dollar. Additionally, it is discussed that if customers return their first product but still make a second purchase, brands should waive the restocking fee for an exchange.
Lastly, it is noted that there is always going to be some imperfections when it comes to product imagery online due to different monitors and browsers used by customers. This podcast conversation emphasizes the importance of providing a good customer experience in e-commerce in order for brands to recoup costs from rising return rates. This podcast conversation discussed the issue of rising return rates and how to address it.
The advice given was to either solve the problem or change it, such as retaking a picture of a black t-shirt so that it looks more accurate in reality. It is also suggested that businesses should provide user-generated content, reviews, great photography and other stamps of approval to give shoppers confidence.
Free shipping and free returns are becoming expected models from customers, so not offering them can lead to lower conversion rates due to people not wanting to take risks with their money. The goal is to digitize the online experience as much as possible so that it mirrors the brick and mortar experience, where customers can try on items in fitting rooms before deciding which ones they want to purchase.
Two tools mentioned were Wear and Try Now which act as a sales associate and put a living room into the shopper's sitting room respectively. Shoe AI was also mentioned which recommends similar products if one size or product is out of stock. Customer Satisfaction (CSAT) was highlighted as a bellwether for businesses, with costs of acquisition increasing.
The speakers discussed how offering a free experience such as "Try Now" can help reduce costs while increasing customer loyalty, ultimately driving up net sales after returns and contribution margin. This podcast conversation discussed the importance of removing barriers to ordering for customers in an apparel business. Strategies to increase order frequency, such as sending emails and offering incentives like gift cards, were discussed.
Additionally, the try before you buy experience was discussed, which is a trial program that allows customers to test out products before committing to purchase. It was noted that this type of program does not typically lead to an increase in returns and extending the return period from 14 days to 30 days does not usually make an impact on returns either.
Returnmates was also mentioned as a product which offers customers doorstep pickup and label printing for their returns. Amazon Prime's launch in 2005 and its success in increasing shopper loyalty, reducing customer acquisition costs (CAC), and increasing conversion rates was also discussed.
Lastly, Nick Sharma and Kyle Goldman were mentioned as two people influential in the DTC marketing space, Zapier was recommended as a tool for remote companies to foster communication throughout their organization, Superhuman was suggested as an email client that has transformed life, and Ben from Try Now.io offered his services for allowing customers to purchase products without spending any money until they have tried them out and decided to keep them. Will from Customers Who Click welcomed Trey Brunner to discuss how Bamboo Avenue leverages customer feedback to inform their business and product development.
Trey discussed the importance of listening to customers, noting that it is essential for businesses to understand their customers’ needs and wants in order to create successful products. He highlighted the value of using customer feedback as a source of inspiration for product innovation, as well as a way to identify areas where improvements can be made.
Trey also discussed the various methods Bamboo Avenue uses to collect customer feedback, such as surveys, focus groups, and online reviews.
Finally, he emphasized the importance of taking action on customer feedback in order to ensure that customers feel heard and valued.
Ben Davis, founder and CEO of Try Now, a platform that allows businesses to offer a try before you buy model to their customers, explains how this model eliminates the need for sampling or paying upfront. It is suggested that marketing messaging should be used in ads, email ads, and retargeting to drive customers to click this option.
The conversation then shifts to finding other ways to uncover extra revenue without assessing a penalty to the shopper such as renegotiating rates with 3PLs and carriers, changing packaging, or increasing prices by a dollar. Additionally, it is discussed that if customers return their first product but still make a second purchase, brands should waive the restocking fee for an exchange.
Lastly, it is noted that there is always going to be some imperfections when it comes to product imagery online due to different monitors and browsers used by customers. This podcast conversation emphasizes the importance of providing a good customer experience in e-commerce in order for brands to recoup costs from rising return rates. This podcast conversation discussed the issue of rising return rates and how to address it.
The advice given was to either solve the problem or change it, such as retaking a picture of a black t-shirt so that it looks more accurate in reality. It is also suggested that businesses should provide user-generated content, reviews, great photography and other stamps of approval to give shoppers confidence.
Free shipping and free returns are becoming expected models from customers, so not offering them can lead to lower conversion rates due to people not wanting to take risks with their money. The goal is to digitize the online experience as much as possible so that it mirrors the brick and mortar experience, where customers can try on items in fitting rooms before deciding which ones they want to purchase.
Two tools mentioned were Wear and Try Now which act as a sales associate and put a living room into the shopper's sitting room respectively. Shoe AI was also mentioned which recommends similar products if one size or product is out of stock. Customer Satisfaction (CSAT) was highlighted as a bellwether for businesses, with costs of acquisition increasing.
The speakers discussed how offering a free experience such as "Try Now" can help reduce costs while increasing customer loyalty, ultimately driving up net sales after returns and contribution margin. This podcast conversation discussed the importance of removing barriers to ordering for customers in an apparel business. Strategies to increase order frequency, such as sending emails and offering incentives like gift cards, were discussed.
Additionally, the try before you buy experience was discussed, which is a trial program that allows customers to test out products before committing to purchase. It was noted that this type of program does not typically lead to an increase in returns and extending the return period from 14 days to 30 days does not usually make an impact on returns either.
Returnmates was also mentioned as a product which offers customers doorstep pickup and label printing for their returns. Amazon Prime's launch in 2005 and its success in increasing shopper loyalty, reducing customer acquisition costs (CAC), and increasing conversion rates was also discussed.
Lastly, Nick Sharma and Kyle Goldman were mentioned as two people influential in the DTC marketing space, Zapier was recommended as a tool for remote companies to foster communication throughout their organization, Superhuman was suggested as an email client that has transformed life, and Ben from Try Now.io offered his services for allowing customers to purchase products without spending any money until they have tried them out and decided to keep them. Will from Customers Who Click welcomed Trey Brunner to discuss how Bamboo Avenue leverages customer feedback to inform their business and product development.
Trey discussed the importance of listening to customers, noting that it is essential for businesses to understand their customers’ needs and wants in order to create successful products. He highlighted the value of using customer feedback as a source of inspiration for product innovation, as well as a way to identify areas where improvements can be made.
Trey also discussed the various methods Bamboo Avenue uses to collect customer feedback, such as surveys, focus groups, and online reviews.
Finally, he emphasized the importance of taking action on customer feedback in order to ensure that customers feel heard and valued.