The Psychological Impact of Reciprocity
The work of Psychologists can be of great value to business leaders. Understanding the basics of human nature and how people think and act can often lead to business leaders making more informed and smarter choices when it comes to marketing, sales, customer success, and general business operations.
One key concept is “Reciprocity“. The ideas is simple: if someone does something for you, you naturally will want to do something for them. Often it can be something that you may perceive as ‘small’ but your potential customer or business partner will likely see as ‘big’. For instance, one study showed that when servers added an after-dinner mint with the check their tips jumped 3.3%. When two mints were added, the tip leaped to 20%. How could you use reciprocity in your agency?
Reciprocity and Business/Marketing
The good news is you don’t have to be financially wealthy to garner the benefits of reciprocity. It just takes a little creativity and thoughtfulness. For recruiters, hiring managers, and HR professionals maybe think about implementing things like:
- Help a friend of thier clients or contact find a job or provide career or resume advice
- Interview a candidate even though they will not receive a search fee
- Review a job description or job posting
- Connect people in your network
- Provide an exclusive ebook for Free
- Do a drawing for Amazon.com gift cards in exchange for customer reviews
- Provide free access to blog materials
- Provide free access to podcasts or other content marketing materials
As you prepare for your Monday morning meeting this week think about implementing reciprocity in your sales, marketing, and other business plans. The ROI could be more than worth it.