So what actually is the Law of Reciprocity?
Well, have you ever noticed that you feel compelled to do something for people who have helped you along the way – even if they haven’t asked you to?
Say I randomly give you a $100 gift certificate to your favorite restaurant.
How would you feel?
You’d feel the need to give me something in return – a very heartfelt thank-you, money in exchange for the certificate, even just a hug or thank-you note.
This is the law of reciprocity in action.
The Law of Reciprocity simply states that when someone does something nice for you, you will experience a deep-rooted psychological urge to do something nice in return.
So how does this translate to business?
When we give a consumer something – something free – they will feel compelled to give you something in return (i.e. sales). This can be a great way to help move potential consumers through the five stage purchase decision making process, especially if they tend to get hung up around steps three and four.
A couple common things online businesses can offer site visitors and social followers include: e-book downloads, free 30 min consultation, course discounts, special offers, free trials, etc.
Let’s look at some examples of successful freebies:
Alright – who’s pumped about giving?
Hopefully those examples gave you some ideas about ways to incorporate the law of reciprocity into your marketing strategy. In the words of Damon Richards, “Your customer doesn’t care how much you know until they know how much you care.” By offering our potential customers something – value, inspiration, discounts – without demanding something back in return, we can experience the multitude of benefits directed by the governing principles of the Law of Reciprocity.
Remember: In the world of business, it pays to be a giver.
Want to learn more?
Learn more consumer psychology tips and tricks by enrolling in Hannah’s DIY Marketing & PR for Busy Professionals online course. Graduate from this all-inclusive educational experience with a top notch marketing and public relations strategy along with the nitty-gritty know how to execute in a way that gets RESULTS. Visit: www.mprcourses.com for more information.
About Hannah Becker:
Hannah Becker is a millennial author, entrepreneur, and marketing consultant. She currently helps brands increase millennial market share through digital strategy and public relations. Follow Hannah on Twitter@MotivatedGenY