The Law of Reciprocity in Marketing
What if you offer something cool in return for an individual’s contact details? This will then give you the opportunity to build a relationship with them over time. Not everyone is ready to make a buying decision straight away. But over time, by giving great value, when they are ready to buy, you are going to be positioned as a much stronger contender for being chosen than the competitor who only sent one piece of information.
A great example of this is what we do (and it works really well):
Let’s say that you run a popular blog that offers its readers highly actionable and practical information that makes their lives better. It’s offered for free, and all they have to do is visit your site and absorb the details. Based on this, your visitors are going to feel more obligated to buy something from you.
A great example of this is Digital Marketer. You can check out their blog here.
What if you have the prospect’s contact details, and you want them to see you as a trusted advisor? You could invite them to a webinar, like this:
All of these examples share one commonality—they are using the law of reciprocity.
By providing something great to someone, the marketer is creating the tension within the prospect that the relationship is out of balance. To put things back into balance, the prospect will have to take some action, of some type.
This action can take the form of:
1. Telling people how great it is
2. Buying something
3. Continuing to follow the emails/posts etc and ‘like’ articles
Whatever the action, it is the prospect reciprocating for what the marketer has done for them.
Is there all there is to sales? No, of course not. The product or service must be great, and desired. There are competitors you need to stand away from and never been seen to be one of many. There’s the importance of the follow up process you have, and your ability to repeat this cycle for everyone with consistency.
But it does increase sales.
We have many people comment to us, ‘I loved everything you sent me. Especially the chocolates.’
And this: ‘You have shown the most interest in me of all the schools I looked at. Of course I had to choose you.’
And this: ‘You guys are different to the rest. You care.’
All of this forms a picture in their minds of how it will be once they’ve joined.
The key, of course, is to ensure that this is true!