Anytime we buy anything, we’re taking a #risk . There’s risk the product doesn’t work, risk we’re being scammed, risk we’ve wasted our time.

All of these are examples of Buying risk.

Marketers need to reduce buying risk, or at least the perception of it.

Types of Buying Risk

• Reputational / Identity Risk - Buying this thing makes me look stupid.
• Temporal Risk / Opportunity Cost - The time spent buying and using this thing wastes my time
• Promise Risk / Functional Risk - The product or service doesn’t live up to its promise. It doesn’t work.
• Financial Risk - This product or service uses my budget or wastes my money.