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Reciprocity is the unwavering, inexplicable urge people have to give back to the people and things that have given them so much. Whether it’s because we understand they did something nice for us or because we see something good in them and want to see if they can return the favour, there’s just something about giving that makes sense. When you think about it, it makes perfect sense. The more someone has given to you, the more you are going to want to give back to them in turn. And when you don’t give anything in return, trust us, you’ll soon start craving those things again. In this blog post we will help you understand why reciprocity works in marketing and how you can create a loyal customer base by doing so.
What is Reciprocity?
Reciprocity is the unwavering, inexplicable urge people have to give back to the people and things that have given them so much.
Whether it’s because we understand they did something nice for us or because we see something good in them and want to see if they can return the favour, there’s just something about giving that makes sense. When you think about it, it makes perfect sense. The more someone has given to you, the more you are going to want to give back to them in turn. And when you don’t give anything in return, trust us, you’ll soon start craving those things again. In this blog post we will help you understand why reciprocity works in marketing and how you can create a loyal customer base by doing so.
Why Does Reciprocity Work In Marketing?
As mentioned above, reciprocity is the unwavering, inexplicable urge people have to give back to the people and things that have given them so much. The only way you can truly earn someone’s trust is by consistently showing that you understand their needs and that you care about them and their needs as much as they do yours.
And the best way to do this is with the same three things every business must do to create loyal customers: value, quality, and convenience. With all three of these things, you’ll find that you not only earn a loyal customer’s trust, but they’ll want to return the favour and share their new connection with their friends and family. And the more of these factors you incorporate into your business, the more customers you’ll find yourself with.
The 3 Things That Create Loyalty
- Value – People only choose to buy products and services they trust or have a strong belief in. And this is because there is a huge difference between “trust” and “belief.” When you buy something, you are trusting the company that it has a certain value. If you buy a $30 T-shirt from Walmart, you’re trusting them have enough money to sell the shirt for that price and that you like the shirt enough to buy it.
Because trust is such an ambiguous feeling, it’s much better to just believe in something. Businesses that offer products and services that you truly believe in are far more likely to earn your loyalty than those that don’t.
- Quality – There is a huge difference between “good” and “great.” When you go to a restaurant, you don’t expect the hamburger you order to be the best hamburger you’ve ever eaten. You only expect it to be good enough. When you buy something, you don’t trust the seller to give you something that is going to meet your needs. You only trust that they understand your needs and they’re going to give you something that is good enough. Businesses that focus more on quality over quantity are going to earn a customer’s loyalty much more than those that don’t.
- Convenience – Nobody wants to work hard to save a little money or spend an hour or two waiting for something.
And why would you when you can just walk into a store and buy the same thing for much less? We all want things that bring us ease or make us feel special, and most of those things are going to cost a lot of money. However, there are many things that are special, but are much cheaper than we think. Businesses that offer things that are convenient and easy to use are going to earn more loyalty than those that don’t.
How to Start Doing Things Differently To Earn Your Customer's Trust
Now that you understand how reciprocity works, the only way to truly earn your customers’ trust is to start doing things differently. And the best way to do this is to create a story around your business. It’s been said that a lie can only live for 24 hours, but a good story can live for generations.
And this is because stories are made up of facts, but they are also based on a person’s feelings. And because feelings are much more complex than facts, a story can make someone happy one second and sad the next.
When you start telling stories around your business and incorporate the three things we mentioned above, you’ll find that you’ll have a much easier time earning your customers’ trust. Now, you don’t need to exaggerate or make up any stories. Instead, you just need to focus on telling your customers the real story behind your business. Once they know the truth about your company, you’ll have a much easier time earning their trust.
Wrapping Up:
When it comes to earning a loyal customer base, nothing is more important than understanding what makes customers tick and how to make them happy.
With that being said, reciprocity is the unwavering, inexplicable urge people have to give back to the people and things that have given them so much. And when you start incorporating the three things we mentioned above into your business, you’ll find that you’ll have a much easier time earning your customers’ trust.
And with a loyal customer base, you’ll be better equipped to help your customers solve their problems and meet their needs. With this done, you’ll find yourself in a much better position to grow your business and make an impact in the world.
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