Multiple ways exist to make a sale. In fact, various strategies and methods from past decades continue to be used today because they work so well. One of these is called the law of reciprocity.
The law of reciprocity is the principle of when someone has helped you out before, you return the favor. Using it in the sales process adds authenticity to establishing connections and relationships with potential customers. This also refers occasionally to the term quid pro quo or the old saying, “I’ll scratch your back if you scratch mine.”
So how does the law of reciprocity help with the art of selling? There is a five-step process that you can use to snag potential customers.
Offer Something
Give out free samples of your product or service first before going out and spending lots of money on a marketing campaign. It’s difficult for many people to pass up something that’s free. Offering samples gives you the possibility of getting their attention on your business.
Make Them Feel Special in Your Sales Strategy
Details are important. Send a personalized note along with a couple of choices for free rewards. That little bit of extra attention to the customer will show that you care about them as human beings and not just money makers.
Help Customers Outside of Work
Good behavior often sticks with others and that can lead them to use it in their daily lives. By using the law of reciprocity for customers, you show a genuine interest in them. It also establishes long-lasting relationships with customers who then become “regulars.” But remember, let the initial offer be given with nothing expected in return.
By expecting nothing in return, you establish a relationship built on trust and loyalty between the customer and yourself. It gives customers a positive experience with your business and brand before any sort of transaction is made. This gets them to more than likely shop at your business again and again.
To establish this trust, you should be able to provide some sort of value not just from your store, but from outside of it as well. One popular tactic is giving out free instruction guides that help customers, whether or not they even made any sort of purchase.
Make It Memorable
The worse thing you can do to your brand is making it a forgettable one. What you need to be is a memorable brand. Making things cheap, quick, and easy seems like a much more digestible endeavor, but instead, you will lose yourself and your brand in a sea of identical marketing strategies.
You need to make your brand memorable. Look at current trends for other brands and see what sticks and doesn’t. Have social media campaigns that interact with customers. Or, you enlist the help of other brands to offer special deals. That way, more people remember what you offer.
Keep It Going
Although customers come in and out of your store buying whatever, the business relationship does not need to end there. What you need to be is active. Engage with more rewards, personal notes, and so many other ideas. Building a long-term relationship with customers gives you an easy flow of customers to your store as they will sing praises of your business.
Conclusion
Many businesses today work with the law of reciprocity. Businesses like Amazon, Spotify, Hubspot, and so many others practice this to keep their customer base loyal.
If you remember the five-step process above when you are at work, then you will have no issues with retaining your customers. This will lead to long-lasting relationships and a long and successful career.
